State Of The Company
No need to dwell on the bad news. Business was very slow during the pandemic. All our customers produce live events and those were simply not happening in 2020 and 2021.
But we survived. And while the virus is still headline news today, people around the globe are returning to theaters and concert halls to experience live entertainment. Our sales in the past three months reflect this change: January 2022 sales nearly equalled all our sales in 2021.
During the pandemic years we did accomplish things. Most notably, Muséik 3.0 was released in August of 2021. This was a complete rebuild of the platform with added DRM protections for our media files and greatly expanded audio functionality.
We also were blessed to receive a grant from the State of Minnesota. The Launch MN Grant provided $25K in grant funding for new product development. These resources allowed us to nearly double the size of the Ion Content Library during the second half of 2021.
Looking forward, we are encouraged by what we see. Orders from schools have hit new all-time highs, interest is returning for our big ticket Premium Library titles, and we continue to enjoy a steady stream of exciting new opportunities and content partnerships.
Be sure to read the next article, "Industry Outlook" for some thoughts about large scale trends we see developing that might have a long term positive impact on our business strategy.
In short, Ion Concert Media survived COVID and we are looking forward to rapid growth and expanding opportunities in the months ahead.
