Destiny Media Announces First Quarter Results

Revenues Up 21% from Q4

Vancouver, BC – January 18th, 2011 – Destiny Media Technologies (TSXV: DSY) (OTCQX: DSNY) is pleased to announce results for the quarter ending November 30, 2011. Revenues of $1,124,617 reflect an increase of 21% over the previous quarter and 6% over the same quarter in the prior year.

  Three Months


November 30, 2011


Three Months


November 30, 2010


Revenue 1,124,617 1,056,638
Operating expenses    
General and administrative


Sales and marketing 198,873 215,499
Research and development 418,114 363,903

Depreciation and amortization

14,375 16,693
  1,109,240 960,264
Income from operations 15,377 96,374
Other income (expenses)    
Other income -- 2,992
Interest income 2,812 2,774
Interest and other expense (634) (277)
Income before provision for income taxes 17,555 101,863
Deferred income tax expense (5,000) (29,000)
Net Income 12,555 72,863
Net income per common share, basic and diluted 0.00 0.00

Operating expenses grew 16% from the prior year to $1,109,240, reflecting a 15% increase in R&D spending and a 31% increase in G&A. This increase includes a $164,000 increase in litigation expenses to a total of approximately $270,000 for the quarter. Litigation expenses are expected to decline significantly after trial in March 2011. Net income for the quarter was $12,555.

About Destiny Media Technologies, Inc.

Universal, EMI, Warner, Sony and one thousand other labels use Destiny's secure distribution service to deliver most of their pre-release music to radio, online retail, DJ's, sports stadiums, journalists and VIP. Destiny's instant play streaming includes internet radio, internet TV, online surveys and new cloud and mobile offerings. Patents include watermarking, peer to peer locking and pending cross platform playerless streaming video.

Media Contact:

Steve Vestergaard
Destiny Media Technologies, Inc.
604 609 7736 x222

Keith Loh