TCAT Update

RNS Number : 0882E

One Media iP Group PLC

05 July 2021

 

One Media iP Group Plc

("One Media" or the "Company")

TCAT Update

One Media iP Group Plc (AIM: OMIP), the digital music rights acquirer, publisher and distributor, announces that the Company's subsidiary TCAT Limited has received advance assurance in relation to Enterprise Investment Scheme ("EIS") from HM Revenues & Customs ("HMRC").

TCAT (Technical Copyright Analysis Tool) is a 'Software as a Service' (SaaS) platform, which was developed in-house at One Media to detect copyright infringement within legitimate digital music stores.

As previously announced the Company is seeking to separate TCAT from the core business.  The EIS advance assurance received from HMRC in relation to TCAT facilitates the Company to seek new sources of funding to invest in TCAT.

TCAT's next phase of development is to become a leading anti-piracy service for the music industry.  Piracy costs the UK economy £9 billion a year, according to a 2019 report by the government's Intellectual Property Office.

TCAT currently provides a range of services to two major record labels and the world's largest media distributor on a retained basis, and its services are also used by organisations that represent the interests of the recording industry worldwide.

TCAT Limited is based in Belfast, a leading technology hub with a large pool of highly qualified employees. TCAT is eligible for financial government support from the regional development agency, Invest Northern Ireland.

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One Media iP Group Plc Michael Infante - CEO Alice Dyson - COO Claire Blunt - Chairman	[phone] [phone]
Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray Jo Turner Ludovico Lazzaretti	[phone]
Cenkos Securities plc (Broker) Giles Balleny Max Gould Michael Johnson (Sales)	[phone]
PPR Publicity	[phone]

About One Media iP Group Plc

Notes to editors on TCAT

TCAT, the Technical Copyright Analysis Tool, is a Software as a Service (SaaS) platform developed as a means of automating the difficult and time consuming task of monitoring digital music releases, for instances of unauthorised exploitation. The bespoke TCAT software is quick and powerful, capable of scanning legitimate global digital music stores for unauthorised and duplicated releases, and chart information.

TCAT is the new tool for music labels, especially those with expansive libraries that would prove difficult  to manually monitor. TCAT will aide that content owners are making the most of all their  music assets.

For music publishers, content ownership is often unlawfully exploited, in re-recordings by other artists, or for different languages, without the correct royalties being returned. TCAT can help find these instances.

For Artists, not only can TCAT discover if their track is being unlawfully exploited, it can also produce instantaneous reports, on a global scale. This includes chart information, and global sales, for targeted marketing, release scheduling on a territorial basis and ensuring that the owners' content reaches the 167 global territories currently available.

About One Media iP Group plc

One Media is a digital music rights acquirer, publisher and distributor. The Group specialises in purchasing and monetising intellectual property rights with proven, repeat income streams.  One Media adds value to its content by maximising its availability in over 600 digital stores globally, including Apple Music, YouTube, Amazon and Spotify and over 40 other digital store providers

One Media's music is also widely used for synchronisation in film and TV whilst its video content is primarily viewed on YouTube where One Media operates over 20 YouTube channels as a certified partner. Additionally its www.tcat.media copyright infringement and digital music audit tool software TCAT, is used daily with major record labels and the world leading digital international distributor. Men & Motors its branded car channel is now available via its web site www.menandmotors.com and YouTube https://www.youtube.com/c/Menandmotors/featured

One Media is listed on the London Stock Exchange on the AIM index, under the symbol 'OMIP'.

For further information, please visit www.omip.co.uk   and http://www.harmonyip.com/  

 

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