Destiny Media Reports
Vancouver, BC – November 30, 2006 – Destiny Media (DSNY OTCBB) is pleased to announce results for the quarter ending November 2006.
Destiny is a market leader in providing software for “streaming” and “secure distribution” of digital media content, such as music or videos. Streaming is analogous to radio or TV and secure digital distribution is similar to distributing music CD’s or DVD’s.
Two new streaming products are due in Q2: A major upgrade of Clipstream, featuring 30 frames per second and full screen video and a high quality social network based around Radio Destiny and Clipstream Live Video.
Promo Only MPE, a secure distribution product in use by major record labels to move pre-release music to radio stations and other trusted recipients is expected to start generating transaction based revenues in Q2 as labels begin phasing out physical CD’s. Since launch, 33,500 tracks have been sent through the system representing over 30 million track sends.
Launch of online music store software and PODDS store aimed at DJ and jukebox customers
Version 3.0 of Promo Only MPE for both Mac and PC, includes support for music videos
Significant partnerships and articles in the market research vertical
A provisional patent on proprietary watermarking technology was filed. The full patent application will be filed in Q2.
Comments Destiny CEO, Steve Vestergaard, ”We’ve focused on R&D this quarter to get new versions of our products ready for launch. We released two media distribution products in Q1 and will be releasing two streaming products in Q2.
The pieces are in place for a great 2007. Customers are waiting for the new version of Clipstream and Radio Destiny and Promo Only MPE transaction revenue should start ramping next month.”
About Destiny Media Technologies
Destiny Media Technologies, Inc. (www.dsny.com) (DSNY.OB) is a leader in developing easy-to-use tools for distributing media through the internet. The company's suite of streaming and downloadable products includes: Clipstream ™, Destiny Media Player ™, Radio Destiny ™, and MPE ™. Established in 1991, the company is headquartered in Vancouver, Canada.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.