Loss-making B2B digital music service provider Omnifone has replaced its former Chairman through a double promotion from within.
Former Chairman Shamil Chandaria stepped down towards the end of last year.
This week, Doug Imrie (pictured inset) steps up from his position as MD and COO to become Chief Executive Officer.
Imrie succeeds Jeff Hughes, who moves to the role of Chairman, after six years as CEO.
Imrie’s appointment as Omnifone CEO means a ‘transition in business strategy’ according to the company, which will see ‘the development of unique, off-the-shelf B2B music products, to cater for new industry demands’.
Omnifone Ltd’s annual accounts for 2015 are currently more than a month overdue at the UK’s Companies House.
Its last available accounts for FY 2014 show turnover of £38.5m with a post-tax loss of £6.9m – widened on FY 2013’s net loss of £6.1m.
In 2014, Omnifone acquired failed consumer-facing streaming service Rara.com in exchange for wiping £3.1m of debt owed by the platform’s associated companies.
Omnifone’s fierce rival, fellow UK-based B2B music services provider 7Digital, posted a net loss of £2.6m in 2014 – but has forecast 2016 to be the year that it turns a profit.
Doug Imrie, CEO Omnifone, commented: “I am hugely excited to undertake the role of Chief Executive at Omnifone.
“Whilst we have continued to enjoy powering music services around the globe, we have identified several exciting opportunities to enable digital service providers, rightsholders and other industry stakeholders to select the key components of our music cloud that they need, to build products that enhance their services and operations.”
Imrie joined Omnifone in 2010, bringing with him two decades of digital and technology experience from his previous roles at Sky Deutschland and BSkyB.
Meanwhile, Omnifone has just announced the launch of its Global Metering Hub, a tool which enables real-time performance and consumption reporting from digital media distribution platforms to content rightsholders.
Phil Sant, Omnifone’s Chief Engineer commented “We are now in an API economy and this product allows services to outsource their complex reporting needs to our music cloud via a straight forward integration. The Global Metering Hub takes care of all the complex behind-the-scenes heavy lifting, allowing our partners to focus the things that differentiate their service.”
Jeff Hughes, Chairman, commented: “I’m thrilled to be moving to the role of Chairman, and look forward to continuing my work with Omnifone, its board and shareholders as it grows its advanced music cloud platform capabilities and services.
“Doug is the best man to lead Omnifone into its next chapter as it grows to power the music industry in its entirety. Omnifone is committed to driving innovation in the B2B music service arena.”
Omnifone develops, licenses, supplies and operates global music services for customers including Samsung Milk Music, Guvera, Pono Music, Spotify, LINE music and Q.SIC.Music Business Worldwide
