(Alliance News) -Â Digital music and radio services platform 7digital Group PLC on Friday noted an announcement from Universal Music Group, said it will continue to provide Triller with services.
Universal Music, according to Music Business World, has pulled its music catalog from Triller. Triller, a rival to TikTok, is an app that allows users to share short video clips online.
7digital shares were down 7.3% at 1.60 pence in London on Friday.
7digital confirmed that Universal Music's announcement has "no financial impact on its business nor does 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. 7digital will continue to provide Triller with services from the company's platform under the existing terms with no impact on its revenue," said 7digital.
By Lucy Heming;Â lucyheming@alliancenews.com
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