Release Date: January 14, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Q1 revenue increased by 6.2%, indicating growth despite challenges in marketing efforts.
- Implementation of new pricing discounts for volume users has increased the average sale per purchase.
- The company has invested in expanding its core strategy to grow plan P/E use in new and existing territories.
- Introduction of self-sign-up and automated payment processes aims to streamline sales and improve customer experience.
- MTR platform, which tracks radio plays, is showing growth in customer retention and average sale per customer.
Negative Points
- Marketing efforts faced setbacks, with lead generation not being as effective as desired.
- Expenditures increased by 27% on the P&L, largely due to depreciation of capitalized software development costs.
- MTR sales remain small, indicating a need for further development to handle larger sales volumes.
- The company is still building out the capacity to sell MTR at volume, which is not yet ready.
- Despite improvements, the company acknowledges that marketing and business development strategies are still in progress and require further refinement.
Q & A Highlights
Q: Can you also track radio ads that are played with your technology?
A: Radio advertising? We could, we don't, but the functionality is the same. It's a really good possible business where advertisers will want to see if their ad gets played at the appropriate time. The functionality of the way our technology works is precisely capable of doing that. - Frederick Vandenberg, President, CEO
Q: Do you have comments on Downtown Music acquisition by Virgin (Universal) and how it can bring new business?
A: I don't. Universal is constantly acquiring new companies. I haven't really thought through how that would impact us. - Frederick Vandenberg, President, CEO
Q: What are the key strategic initiatives for Destiny Media Technologies moving forward?
A: Our core strategy is to grow plan P/E use in new and existing territories. We've invested heavily in making it easy to expand through platform improvements and marketing initiatives. We're focusing on building a foundation of core planity revenue and adding new layers of businesses and services. - Frederick Vandenberg, President, CEO
Q: How is the new MTR platform performing, and what are the future plans for it?
A: MTR sales are still small but growing. We're retaining customers and increasing the average sale per customer. We're building out the ability to sell at volume, and this should be ready by Q3 of this fiscal year. - Frederick Vandenberg, President, CEO
Q: Can you elaborate on the marketing improvements made in Q1?
A: We made significant investments in marketing, including search engine optimization, lead source tracking, and improving our website's domain authority and speed. We also hired a new Director of Business Development to focus on new market acquisition strategies and account reengagement processes. - Frederick Vandenberg, President, CEO
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
