(Sharecast News) - Digital music solutions group 7digital said it had won a contract to provide its music-as-a-service platform to power Single Music, a Shopify-integrated platform that enables artists and labels to sell their music and merchandise directly to fans.
7digital said on Monday that the contract was part of its strategic expansion to support online stores on Shopify, the second-largest e-commerce platform in the world.
The AIM-listed firm said the initial 12-month contract, which includes set-up and monthly fees, will see Single Music utilise 7digital's technology to support publisher clearances as well as label, publisher and chart reporting for download purchases outside the US.
Chief executive Paul Langworthy said: "This contract win underscores the strength of our technical offering and our healthy commercial pipeline.
"Our deal with Single Music and its Shopify integration adds to our expansive list of industry innovators providing more sophisticated and intuitive tools to support unique, exciting and meaningful music experiences."
As of 1000 GMT, 7digital shares had sunk 9.90% to 0.46p.
28 Mar 2023 18:43
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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday not separately reported by Alliance News: