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TheStreet Open House

Destiny Media Technologies Announces Global Agreement With UMG Recording Services

Stocks in this article: DSNY

Play MPE® Secure Digital Distribution System to Power Over Forty UMG and EMI Sub Label Brands Internationally

VANCOUVER, April 8, 2013 /PRNewswire/ - Destiny Media Technologies (TSXV: DSY) (OTCQX: DSNY), is pleased to announce that it has entered into a global services contract to provide secure distribution of pre-release music to radio, label staff and other trusted recipients worldwide.

The term is for twenty four months and includes transmission of music and music videos by UMG labels, Universal affiliates and Universal licensees.  The agreement includes a guaranteed minimum monthly required usage.  The service is priced in Euros in all geographies, including the US.  The contract provides an accelerator provison that rewards Universal with lower incremental fees on increased usage above staged monthly fee targets.  These targets are set to encourage and reward expansion of volumes above historic usage.

"It was important for us to standardize on a single agreement with Destiny across all of our territories", says Mark Moroney, VP Production Universal Music Group International.  "This new deal provides consistent pricing and terms worldwide, allowing expansion to new countries and recipient types without the need for further negotiation."

Previously, Destiny had contracts and understandings with both UMG and EMI at both the parent and sub label level in North America and Internationally across a number of currencies.

The Play MPE® system is an automated service that provides secure distribution and marketing of pre-release music and videos to radio and other trusted users.  Powered by patented locking and watermarking technologies, the system is closely integrated into major label workflow as the major labels assisted in the system's design.

Steve Vestergaard, Destiny CEO, says that with the acquisition of EMI, Universal Music Group is expected to represent over 40% of major label transaction volume.  "We've been working on building our system for several years, with the goal of increased usage when the new software rolled out.  This new agreement clears the way for us to work with the staff at the parent to market to their own regional staff to expand to new territories and recipient types."

About Universal Music Group Universal Music Group is the global music leader, with wholly owned operations in 60 territories. Its businesses also include Universal Music Publishing Group, one of the industry's premier music publishing operations worldwide.

Universal Music Group's record labels include A&M/Octone, Angel, Astralwerks, Blue Note, Capitol Records, Decca, Def Jam Recordings, Deutsche Grammophon, Disa, Emarcy, Fonovisa, Geffen Records, Interscope Records, I.R.S., Island Records, Lost Highway Records, Machete Music, Manhattan, MCA Nashville, Mercury Nashville, Mercury Records, Motown Records, Polydor Records, Republic Records, Universal Music Latino, Verve Music Group and Virgin Records, as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world. The Universal Music Group owns the most extensive catalogue of music in the industry, which includes the last 100 years of the world's most popular artists and their recordings. UMG's catalogue is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and Universal Strategic Marketing (outside the U.S.). Universal Music Group also includes Global Digital Business, its new media and technologies division and Bravado, its merchandising company.

Universal Music Group is a fully owned subsidiary of Vivendi.

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