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One Media inks annual contract with 'major international music label'
Intellectual property group One Media has signed an annual contract with an unnamed "major international music label" for the use of its technical copyright analysis tool, a content discovery and policing software.
Under the terms of the contract, effective immediately, the mysterious record label will use the TCAT software to monitor "music conflicts" and potential copyright infringements.
Following two years of development, the deal will see the further commercialisation of TCAT on an annual contract basis as One Media, based in Pinewood Studios, continues its move into technical services in the music data space.
Michael Infante, chairman and chief executive of One Media, said, "I am delighted to report that TCAT has signed its second international client. We have expanded the service in line with our customer's exacting brief and resourced it accordingly. This is a further demonstration of our technology's ability to fulfil the music market's necessity for big-data information and the tools to analyse it and customise it to the clients' individual needs."
As of 1000 GMT, shares had advanced 11.64% to 9.88p.