7Digital to launch live music streaming platform

(Sharecast News) - Digital music solutions group 7Digital has partnered with eMusic to launch a streaming platform for the live music industry to stage virtual concerts.
7Digital said on Wednesday that eMusicLive, the pair's new platform, would allow artists, labels, brands, venues and managers to attempt to recreate the live experience and monetise the commercial opportunities of live gigs, bundling ticketing, music sales, merchandise and collectables in a web-based platform.

The AIM-listed firm added that it would be powered using its advanced technology platform, which provides access to the company's global catalogue of music tracks.

Chief executive Paul Langworthy said: "Social distancing measures in place around the world are creating an opportunity for new forms of live artist-to-fan engagement. While there are plenty of platforms, none have captured the true essence of a proper show, which should include both the performance value for the fan and commercialisation value for artists.

"This is a new, emerging style of platform that we also see having tremendous value for venues as well as retailers and brands for whom music can play a key role in their engagement strategy or business model."

As of 0920 BST, 7Digital shares were up 4.69% at 3.35p.