Destiny Media Technologies Announces Third Quarter Results
Vancouver, BC - Destiny Media Technologies, Inc. (OTCBB: DSNY) announces third quarter results have been filed with Edgar.
Recognised revenues increased from $157,768 to $205,167 and the loss for the period fell from $162,723 to $103,746. Revenues increased $160,745 or $359% over the same three month period in 2001. Total expenses for the period was reduced by $342,550 or 77% from 2001. The statements show a move from a development stage company to an operating company which reflect improvements in the company's financials.
This quarter marked emerging mainstream use in advertising by recognized national and international brands of television ads repurposed for use in web pages. Advertisers ran campaigns using Clipstream ™ to display their audio and video content in banner and email this quarter with impressive results showing large increases in 'click through' over traditional internet ads. The industry typically budgets a larger percentage of their media buying in Q3 and Q4 of the calander year which should positively impact our first and second quarter revenues.
As evidence of the growing use of Clipstream™ video advertising on the web independent measurment firms such as Dynamic Logic (http://www.dynamiclogic.com) have begun tracking Clipstream ™ and private labeled versions of Clipstream ™ so that advertisers can directly see the results of their campaigns. This market segment along with direct email marketing and corporate elearning have formed the core of the emerging markets for Clipstream™.
Destiny CEO, Steve Vestergaard comments on the market shift to playerless streaming, "Clipstream ™ passes through firewalls, it requires no investment in infrastructure and it reaches over twice as many people as a player based solution. Once we establish greater market awareness, I expect many sites will switch to Clipstream ™ Additionally, Microsoft's decision this quarter to support Java has also helped ease clients fears over the long term of Java in the OS."
About Destiny Media Technologies, Inc.
Destiny Media Technologies, Inc. (http://www.dsny.com) is a leader in developing easy-to-use tools and enabling technologies to distribute digital media through the Internet. The company's suite of streaming and downloadable products includes: MPE™ (http://www.destinympe.com), a complete, secure media distribution system that provides e-commerce and digital rights management directly from within an MP3-compatible multimedia file; Clipstream™ (http://www.clipstream.com), a java-based tool which enables web pages, e-mail and banners to stream audio without the use of a player; Video Clipstream™ (http://www.videoclipstream.com), a technology for embedding streaming video into a web page or e-mail; and the RadioDestiny Broadcaster™ (http://www.radiodestiny.com), which allows a user to webcast live or scripted internet radio from a computer to anyone on the Internet. Established in 1991, the company is headquartered in Vancouver, Canada.
For more information contact:
|Destiny Media Technologies, Inc.|
President & CEO
Destiny Media Technologies, Inc.
604-609-7736 ext. 222