secwatch.observer — SEC 8-K summary
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Issuer:     DESTINY MEDIA TECHNOLOGIES INC (DSNY)
CIK:        0001099369
Form:       8-K
Filed at:   2022-05-25T23:59:59+00:00
Accession:  0001062993-22-013437
Event type: other_material
Sentiment:  positive
Materiality: 0.55
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Destiny Media renews Universal Music Group agreement with 10% fee increase through 2024
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- Renewed and extended Online Content Distribution Services Agreement with Universal Music Group Recording Services until March 31, 2024.
- Monthly service fees increased 10% effective April 1, 2022 for Year 1 (to March 31, 2023).
- Potential additional 2.5% fee increase in Year 2 (April 2023–March 2024) if usage targets met.
- Either party may terminate the agreement at March 31, 2023 with notice by December 31, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1099369/000106299322013437/0001062993-22-013437-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1099369/000106299322013437/form8k.htm
  HTML page:      https://secwatch.observer/filing/0001062993-22-013437

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