Mr. Fred Vandenberg reports

DESTINY MEDIA TECHNOLOGIES INC. ANNOUNCES FISCAL 2024 FIRST QUARTER RESULTS

Destiny Media Technologies Inc. has released its financial results for its fiscal 2024 first quarter ended Nov. 30, 2023.

"We are pleased to observe that strategic investments in Play MPE are beginning to yield palpable results," said Fred Vandenberg, president and chief executive officer. "Our ongoing commitment to invest in the platform and marketing functions is aimed at further accelerating revenue growth."

Financial highlights

Highlights for Q1 2024 include (all figures are in United States dollars, and comparisons are with Q1 2023):

• Play MPE sets a new benchmark with its highest quarterly revenue to date;
• Currency adjusted revenue grew by 10.6 per cent (13.1 per cent unadjusted);
• Independent record label revenue up 19.5 per cent globally;
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) $300,000.

During the first quarter of the fiscal 2024, under a normal course issuer bid, the company repurchased 172,000 shares for a total cost of $200,000.

Fiscal 2024 first quarter earnings webinar

Destiny Media Technologies will hold a live webinar on Tuesday, Jan. 16, 2024, at 2 p.m. Pacific Time (5 p.m. Eastern Time) to discuss financial results for its fiscal 2024 first quarter ended Nov. 30, 2023. The live webinar will include comments from president and chief executive officer, Fred Vandenberg, and director of business development Allan Benedict.

Date:  Tuesday, Jan. 16, 2024

Time:  2 p.m. Pacific Time (5 p.m. Eastern Time)

Attendees are encouraged to register prior to the scheduled time or by clicking on the webinar registration form.

Attendees viewing the webinar can voluntarily submit questions during the live presentation. Attendee cameras will remain off throughout the presentation. Attendees' microphones will remain off unless the attendee voluntarily selects to engage in verbal questions similar to the format available on traditional conference call format.

The webinar format will provide the company an opportunity to present visual information.

For those without internet access, the webinar can be accessed via the following dial-in details:

Direct dial-in United States:  1-346-248-7799 or 1-360-209-5623

Webinar ID:  883 9889 5640

Attendees participating via dial in will not have access to the webinar video stream and will not have access to question and answer functions.

A recording of the webinar will be available after the event on the Destiny website.

About Destiny Media Technologies Inc.

Destiny Media Technologies provides software-as-a-service (SaaS) solutions to businesses in the music industry solving critical problems in distribution and promotion. The core service, Play MPE, provides promotional music marketing to engaged networks of decision makers in radio, film, TV and beyond.

We seek Safe Harbor.