Digital music disrupter One Media iP Group is to raise £6m in a share placing. 

The listed firm, which helps writers and artists to access future royalty earnings in return for a portion of their music rights, will use the money to expand the number of rights it holds through the Harmony iP asset release program. 

One Media iP Group, based in Pinewood Studios, Buckinghamshire, adds value to its content by maximising its availability in over 600 digital stores globally, including Apple Music, YouTube, Amazon and Spotify. 

Its music is also widely used for synchronisation in film, TV and digital gaming whilst its video content is primarily viewed on YouTube where One Media operates over 20 YouTube channels as a certified partner. 

It has also built a technical copyright analysis tool to protect the rights of its artists. 

The placing is priced at 7p per share, a discount on Monday’s value of 7.25p, and represents 38.9 per cent of the firm’s enlarged share capital. 

“To have such a heavily oversubscribed fundraising, which also brings a significant number of new high-quality investors onto the register, is extremely pleasing,” said One Media CEO Michael Infante. 

The level of demand for the placing reflects the confidence existing and incoming investors have in One Media’s Harmony iP model and the ongoing strategy to capitalise on a market benefiting from significant tailwinds. 

The company’s market cap is currently £9.5m after its valuation rose steadily during lockdown. 

Six-month revenues to April climbed 28% to more than £2m while pre-tax profits were up 177% to £400k. 

During the recent months the health and safety of our staff and stakeholders has been of paramount importance,” added Infante. 

The entire One Media team has been working harder than ever on a remote basis and I would like to thank everyone for their exceptional work throughout.  

The outlook is certainly exciting and we are looking forward to taking the business to the next level.”