NAPLES, Fla., Feb. 26, 2024 (GLOBE NEWSWIRE) -- Music Licensing, Inc. (OTC: SONG), a leading player in the music licensing industry, today announced its annual results for the fiscal year ended December 31, 2023. The company has delivered robust performance, achieving significant milestones in revenue and profitability.
Key financial highlights for the fiscal year 2023 include:
- Total Revenue: Music Licensing, Inc. reported total revenue of $1,052,274,588 USD, showcasing its ability to generate substantial income in a competitive market environment.
- Net Profit: The company achieved a net profit of $46,033,387 USD, demonstrating its efficiency in managing costs and maximizing profitability.
- Total Equity: Music Licensing, Inc. reported total equity of $49,580,139 USD, reflecting its solid financial position and stability.
- Shares Outstanding: As of December 31, 2023, the company had 802,635,215 shares outstanding, indicating its continued commitment to shareholder transparency and accountability.
- Earnings Per Share (EPS): The company reported an EPS of approximately $0.057 USD per share, highlighting its ability to deliver value to shareholders through earnings growth.
- Book Value Per Share: Music Licensing, Inc. reported a book value per share of approximately $0.062 USD, reaffirming its strong asset base and financial health.
Commenting on the results, Jake P. Noch, CEO & Chairman, said, "We are pleased to announce another year of strong financial performance, marked by significant growth in revenue and profitability. These results underscore our commitment to delivering value to our shareholders and stakeholders while maintaining a solid financial foundation."
https://www.sec.gov/Archives/edgar/data/1671132/000121390024016747/ea0200543ex999-2_musiclicen.htm
About Music Licensing, Inc.)
Music Licensing, Inc. (OTC: SONG) a diversified holding company, also known as Pro Music Rights, is the 5th public performance rights organization (PRO) to be formed in the United States. Its licensees include notable companies such as TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights holds an estimated market share of 7.4% in the United States, representing over 2,500,000 works that feature notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sause Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar, 3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi Vert, and countless others, as well as Artificial Intelligence (A.I.) Created Music. Additionally, Music Licensing, Inc. (OTC: SONG) owns royalty stakes in Listerine "Mouthwash" Antiseptic as well as musical works by artists such as Elton John, Lil Nas X, Miley Cyrus, Lil Wayne, XXXTentacion, Halsey, and numerous others.
Forward-Looking Statements:
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.
Non-Legal Advice Disclosure:
This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.
Non-Investment Advice Disclosure:
This communication is intended solely for informational purposes and does not in any way imply or constitute a recommendation or solicitation for the purchase or sale of any securities, commodities, bonds, options, derivatives, or any other investment products. Any decisions related to investments should be made after thorough research and consultation with a qualified financial advisor or professional. We assume no liability for any actions taken or not taken based on the information provided in this communication
Contact: investors@ProMusicRights.com
SOURCE: Music Licensing, Inc.
