DESTINY MEDIA TECHNOLOGIES INC. (OTCMKTS:DSNY) Files An 8-K Other EventsItem 8.01 Other Events
On November 30, 2018, UMG Recording Services, Inc. (“Universal Music”) renewed its Online Content Distribution Services Agreement (the “Agreement”) with Destiny Media Technologies Inc. for use of Play MPE®. The term of the Agreement has been extended to December 31, 2020 and includes a 14 per cent increase in monthly fees from Universal Music, effective January 1, 2019, to accommodate their expanded use of the Play MPE® system.
About DESTINY MEDIA TECHNOLOGIES INC. (OTCMKTS:DSNY)
Destiny Media Technologies, Inc. develops and markets services that enable the secure distribution of digital media content over the Internet. The Company’s services are based around security, watermarking and instant play streaming media technologies. The Company’s products and services include Clipstream Online Video Platform (OVP), Clipstream Online Video Platform and Play MPE. The Clipstream Online Video Platform is a self-service system for encoding, hosting and reporting on video playback, which can be embedded in third-party Websites or e-mails. With the JavaScript codec approach, the Company offers various features, such as security, interactivity and proofing of content. Play MPE is a digital delivery service for moving broadcast audio, video, images, promotional information and other digital content securely through the Internet.
