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Contract to provide Music-as-a-Service Platform

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RNS Number : 7820Q
7digital Group PLC
23 October 2019
 

23 October 2019

7digital Group plc

("7digital" or "the Company")

7digital awarded contract to provide its Music-as-a-Service Platform for new innovative streaming service

7digital (AIM:7DIG), the global leader in B2B end-to-end digital music solutions, is delighted to announce that it has been awarded an initial year-long contract by a new innovative music streaming service. 7digital will be paid a fixed fee plus usage costs depending on scale for the provision of its music-as-a-service platform. Initially, the streaming service's full premium service has been launched in a single European market which will be followed by a rollout in several countries over the coming year.

 

Under the terms of the agreement, 7digital will deliver access to its extensive music catalogue via its APIs, along with audio fingerprinting service enabling the streaming service to use their proprietary software to profile the audio files and deliver a personalised streaming experience. 7digital's extensive global music catalogue includes all the major record labels and genres to suit individual tastes and preferences. 

 

Commenting on the new partnership, Paul Langworthy, CEO of 7digital, said:

"The continued growth in streaming sees with it new and innovative ways of discovering music and we are seeing a trend of combining data and content to create unique differentiated user experiences that achieve a new level in personalization and engagement. We have a strong track record in providing a flexible music API and global catalogue, and partnerships with innovators in the music industry enable us to demonstrate how we are able to service the needs of different businesses to support new business models and experiences in the music industry."

 

 

Enquiries:

 

7digital                                                                                                                 020 7099 7777

Paul Langworthy, CEO  

 

Arden Partners (nominated adviser and broker)                                                020 7614 5900

Ruari McGirr/ Tom Price/ Benjamin Cryer

 

Luther Pendragon                                                                                              020 7618 9100

Harry Chathli, Joe Quinlan  

 

 

Notes to Editors

 

About 7digital (www.7digital.com/)

7digital is the global leader in B2B end-to-end digital music solutions. The core of its business is the provision of robust and scalable technical infrastructure and extensive global music rights used to create music streaming and radio services for a diverse range of customers - including consumer brands, mobile carriers, broadcasters, automotive systems, record labels and retailers. 7digital also offers radio production and music curation services, editorial strategy and content management expertise.

 

7digital fosters industry growth and innovation by simplifying access to music for clients. From years of being the largest independent producer of programming for the BBC and powering services for partners like Global Radio and Fender, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.

 

 

 

 


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Quick facts: 7Digital Group PLC

Price: 0.1644

Market: AIM
Market Cap: £4.04 m
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