Destiny Media Technologies Inc

dsny.com

What Do They Do?

Distributes promotional music and related digital content for record labels and artists through Play MPE, and tracks song airplay for labels, artists, and promoters with MTR.

How Do They Make Money?

The company earns mainly through usage fees for digital media distribution, billed according to the volume and size of services provided during a month; fixed fees are also tied to distribution volume and size.

FY2025 revenue

Who Are Their Customers?

Record labels and artists are Play MPE customers. Caster users can handle account setup and payment themselves, while Caster+ releases are prepared by staff.

Customers above 10% of revenue, FY2025

of revenue from one customer

FY2024: 43% from one customer

Do Revenues Turn Into Profits?

Not on paper. It lost $637.9K in FY2025, but brought in more cash than it spent: $36K of free cash flow.

Operating income, FY2025

−15% of revenue

▼ Now a loss vs FY2024 ($60.6K, 1%)

Net income, FY2025

−14% of revenue

▼ Now a loss vs FY2024 ($111.8K, 3%)

Free cash flow, FY2025

1% of revenue

▼ −91% vs FY2024 ($421K, 10%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to May 31, 2026

Revenue: ▼ −8%; vs $1.1M in Q3 FY2025
Net income: ▲ +195% (Loss); vs −$72.3K in Q3 FY2025

Jul 16, 2026 Destiny appointed Sharath Cherian as CEO and president Hyonmyong Cho ceased serving as interim CEO and continues as board chair.
Feb 10, 2026 Fred Vandenberg stepped down as CEO and president Hyonmyong Cho was appointed interim CEO as the company began searching for a successor.

Growing. Revenue grew 8% in 4 years, from $4.2M in FY2021 to $4.5M in FY2025, about 2% a year.

MTR airplay tracking The latest report describes MTR as a launched radio and digital airplay tracking tool alongside Play MPE; the older report described Clipstream as an online video product with incidental revenue.

Caster self-service The latest report says Caster added self-service account setup through payment; the older report described its release-creation and scheduling tools.

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