7digital Group PLC - digital music company - Signs contract with an expected term of 24 months with Kuaishou Technology, a social platform, to provide Kuaishou's mobile apps with licensed music globally. The contract strengthens 7digital's revenue visibility as it includes a set-up fee, a monthly recurring access fee, and a usage fee, the company says. In turn, Kuaishou will benefit from 7digital's technology and will be able to give users easy access to rights-cleared music that can be used across any platform.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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