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7digital expects no impact from UMG-Triller dispute

Fri, 05th Feb 2021 15:02

(Sharecast News) - Digital music service provider 7digital updated the market on Friday, after music label Universal Music Group (UMG) announced that it had pulled its catalogue from the social app Triller.
The US-based music publishing giant said Triller - considered a rival to the social video platform TikTok - had "shamefully" withheld payments from artists.

"We will not work with platforms that do not value artists," a UMG spokesperson said.

"Triller has shamefully withheld payments owed to our artists and refuses to negotiate a license going forward."

7digital inked a deal with Triller in August, giving the social app access to 7digital's catalogue of 80 million music tracks.

The AIM-traded firm confirmed on Friday that the announcement from UMG had no financial impact on its business, nor did it have any impact on its own relationships with either party.

"Triller remains a customer of 7digital having signed an 18 month contract in August 2020," the board said in its statement.

"7digital will continue to provide Triller with services from the company's platform under the existing terms with no impact on its revenue."

The company said it would keep the market updated on any further developments in the matter, as appropriate.

At 1237 GMT, shares in 7digital Group were down 1.45% at 1.7p.
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1 Mar 2023 21:15

TRADING UPDATES: Galantas to raise GBP1.2 million in private placement

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8 Feb 2023 16:56

7digital backs GBP19 million buyout by music licensing firm Songtradr

(Alliance News) - 7digital Group PLC on Wednesday agreed to a GBP19.4 million takeover from music licensing company Songtradr Inc.

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14 Dec 2022 15:59

UK shareholder meetings calendar - next 7 days

Thursday 15 December 
Aeorema Communications PLCAGM
Argos Resources LtdAGM
Baillie Gifford Japan Trust PLCAGM
Capricorn Energy PLCGM re proposed share premium account cancellation
Chelverton Growth Trust PLCAGM
CQS Natural Resources Growth & Income PLCAGM
DX Group PLCAGM
DXS International PLCAGM
Glenveagh Properties PLCEGM
Secured Income Fund PLCGM re proposed reduction of capital
Schroder Income Growth Fund PLCAGM
Friday 16 December 
Bellway PLCAGM
Inchcape PLCGM re Derco acquisition
JPMorgan Global Growth & Income PLCGM re proposed combination with JPMorgan Elect PLC
National Australia Bank LtdAGM
Sareum Holdings PLCAGM
Thor Explorations LtdAGM
UP Global Sourcing Holdings PLCAGM
Monday 19 December 
Abingdon Health PLCAGM
Brand Architekts Group PLCAGM
China Nonferrous Gold LtdAGM
DeepMatter Group PLCGM re ordinary shares cancellation
Mila Resources PLCAGM
Purplebricks Group PLCGM re chairman replaced by Harry Hill
Renalytix PLCAGM
RTW Venture Fund LtdEGM
Star Phoenix Group LtdGM re resolution to approve change of auditor
Technology Minerals PLCAGM
Visum Technologies PLCAGM
Tuesday 20 December 
AVI Global Trust PLCAGM
dotdigital Group PLCAGM
eEnergy Group PLCAGM
Nanoco Group PLCAGM
Pharma C Investments PLCAGM
SourceBio International PLCGM re proposed cancellation and re-registration as a private Ltd
Wednesday 21 December 
7digital Group PLCAGM
BATM Advanced Communnications LtdAGM
dotdigital Group PLCAGM
Northamber PLCAGM
Parkmead Group PLCAGM
Windar Photonics PLCAGM
  
Copyright 2022 Alliance News Ltd. All Rights Reserved.

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6 Dec 2022 21:50

TRADING UPDATES: 7digital loan pact; Okyo Pharma files with SEC

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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19 Oct 2022 12:16

IN BRIEF: 7digital surges on three-year contract with Pinterest

7digital Group PLC - London-based music licensing provider - Wins new, three-year contract with visual inspiration platform, Pinterest Inc. Says that the contract is designed to support growth in content and territories as the platform expands into new markets as needed. The contract will enable Pinterest's music library to include licensed commercial tracks, delivered by 7digital's music-as-a-service platform, to sit alongside their royalty free music.

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19 Oct 2022 12:15

LONDON MARKET MIDDAY: FTSE underwhelms as CPI puts spotlight on BoE

(Alliance News) - London's FTSE 100 was struggling for direction on Wednesday at midday, underperforming European peers, while pressure on the Bank of England intensified after UK inflation hit double figures again.

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19 Oct 2022 11:37

7digital secures new contract with Pinterest

(Sharecast News) - AIM-listed 7digital said on Wednesday that it has secured a new contract with image sharing and social media website Pinterest.

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28 Sep 2022 11:04

AIM WINNERS & LOSERS: Glantus cautions; Vela hit by tech downturn

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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28 Sep 2022 10:12

7digital shares jump as interim loss narrows; closer to break-even

7digital Group PLC on Wednesday came closer to breaking even in its half-year as expenses narrowed and revenue rose.

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23 Sep 2022 09:18

7digital shares down as Chair Tamir Koch steps down after 3 years

(Alliance News) - 7digital Group PLC shares dropped on Friday as it said that Chair Tamir Koch will step down from his role with immediate effect, to focus more time on the development of eMusic.com Inc blockchain.

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25 Jul 2022 12:14

LONDON MARKET MIDDAY: Stocks shrug off recession warning in Germany

(Alliance News) - European equities were higher at midday on Monday, bouncing back from a lower start, as investors took a warning from a business poll that showed Germany is on "brink of recession" in their stride.

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25 Jul 2022 11:24

AIM WINNERS & LOSERS: 7digital wins contract; Hurricane Energy repays

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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25 Jul 2022 10:32

7digital shares surge on long-term contract with Utopia Music

(Alliance News) - 7digital Group PLC on Monday announced it has signed a long-term contract with music fintech company Utopia Music AG.

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25 Jul 2022 10:03

7digital inks long-term contract with B2B music fintech

(Sharecast News) - Digital music solutions group 7digital said on Monday that it has inked a long-term contract with business-to-business music fintech company Utopia Music.

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