28 Mar 2019 07:00
28 March 2019
RNS REACH
7digital Group plc
("7digital" or "the Company")
7digital announces deal with Dubset
7digital (AIM:7DIG), the global leader in B2B end-to-end digital music solutions, is delighted to announce that it has signed a contract with Dubset Media, Inc. ("Dubset")
7digital has agreed an initial one year deal with Dubset, a rights tech company that identifies, claims, and collects royalties for labels and publishers when their catalogues are found within mix content. This clearance process enables DJs and producers to legally distribute their mixes and remixes to major music services including Apple Music, Spotify, and Tidal. Under the terms of the deal, 7digital will provide access to the Company's music platform to assist Dubset in further enhancing its proprietary MixSCAN recognition technologies.
Commercial terms are confidential but the deal will contribute to 7digital's monthly recurring revenues for 2019 and the company will receive a significant set-up fee.
Commenting on the partnership, Simon Cole, CEO of 7digital, said: "Technology has levelled the playing field when it comes to creating music and distributing it to a receptive audience. This is a hugely exciting development, but it brings with it unique challenges. Dubset is growing a new marketplace for DJ sets and remixes, which represents a valuable revenue stream for rightsholders. We're delighted to be using our platform to partner with Dubset and deliver value both to the music industry and to individual creators."
For further information please contact:
7digital | 020 7099 7777 |
Simon Cole, Chief Executive |
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David Holmwood, Interim Chief Financial Officer Holly Ashmore, PR Manager |
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Arden Partners (nominated adviser and broker) |
020 7614 5900 |
Ruari McGirr/ Tom Price/ Benjamin Cryer - Corporate Finance
Yellow Jersey PR Georgia Colkin Charles Goodwin 7digital@yellowjerseypr.com
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+44 (0)7825 916 715 +44 (0)7747 788 221 |
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About 7digital (http://about.7digital.com/)
7digital is the global leader in B2B end-to-end digital music solutions. The core of its business is the provision of robust and scalable technical infrastructure and extensive global music rights used to create music streaming and radio services for a diverse range of customers - including consumer brands, mobile carriers, broadcasters, automotive systems, record labels and retailers. 7digital also offers radio production and music curation services, editorial strategy and content management expertise.
7digital fosters industry growth and innovation by simplifying access to music for clients such as Onkyo and TikTok (formerly musical.ly). From years of being the largest independent producer of programming for the BBC and powering services for partners like Panasonic, TDC and Fender, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.
About Dubset Media Holdings, Inc.
Dubset Media (www.dubset.com) is a rights tech company solving the challenges associated with use of copyright protected works within music and other forms of UGC. Utilizing its proprietary MixBANKTM technology stack and MixSCAN® identification technologies, Dubset is powering the claiming, distribution, and royalty collection opportunities for labels, publishers, and content creators.