> H1 2020 Revenues of £3.1m > Became profitable Q4 2020 (increased revenues in H2 2020 compared to H1 2020) H2 2020 results due. > Triller contract announced August 2020 > Kuaishou contract announced March 2021 > 7DIG now enable 1 billion average monthly active users > Who is the second deal with? “Expect to sign two significant deals in 2021 and we will deliver substantial growth in Social Media revenue”
Expect to sign two significant deals in 202111 Mar 2021 13:19
Social Media Music is becoming the driving force for growth of UGC social media platforms • Tik Tok has shifted the paradigm in how fans discover, share and create music • Nine out of 10 social media users follow, post or share music on a regular basis • Growth in music consumption in Social has outstripped subscription streaming • 7digital offers its global catalogue, platform scale, rights and reporting to serve the sizeable and rapidly-growing demand for world-wide social enterprises • Expect to sign two significant deals in 2021 and we will deliver substantial growth in Social Media revenue in the year.
RE: expects to report substantial year-on-year revenue growth in FY 202111 Mar 2021 11:42
"In total, the Company has signed five new contracts, four expansions and eight renewals in H2 2020. As a result, the Company is pleased to confirm that it has achieved operational profitability in the last quarter of 2020 and increased revenues in H2 2020 when compared to H1 2020, in line with management's expectations."
expects to report substantial year-on-year revenue growth in FY 202111 Mar 2021 11:41
27digital typically enters into contracts which include a fixed fee and variable, usage-based terms, ensuring that the Company benefits as its customers scale up their offering. As a consequence of new contracts ramping up in 2021, clients increasing their usage of 7digital's platform and deals in the pipeline, the Board envisages receiving incremental revenues from these customers and expects to report substantial year-on-year revenue growth in FY 2021, resulting in operational profitability for the full year 2021."