24 Aug 2020 07:00
24 August 2020
7digital Group plc
("7digital" or the "Company")
Company Update, Follow-on Contract with jazzed and Notification of Results
7digital (AIM: 7DIG), the global leader in B2B end-to-end digital music solutions, is pleased to announce that its Music Platform-as-a-Service will support jazzed - the world's first dedicated audio-visual streaming service for jazz and jazz-influenced music - to launch globally in new territories. In addition, 7digital will support jazzed in rolling out a new tier of its music service, which will include HD lossless audio. jazzed is a multi-tier jazz streaming subscription service which has been developed by ETA Productions Ltd, a specialist in creating new digital media platforms for entertainment markets. Launched in February 2020, it offers a highly curated music, video and editorial (Listen, Watch, Read) experience for the jazz fan, featuring over five million tracks and unique individual channels both on mobile and desktop.
Under the terms of the initial 12-month contract, jazzed uses 7digital's API and platform access to fuel their roll-out into a range of other territories, allowing jazzed users to stream music from 7digital's extensive catalogue of jazz tracks globally. The extended deal will include on-demand access to over five million music tracks in HD lossless audio. The Company will receive a monthly licensing fee and usage-based payments, in line with usual commercial terms and other recent new contracts.
jazzed offers an ad-funded freemium version featuring 10 hand-curated audio channels, selected on demand videos and articles and a £5.99 monthly subscription-based tier, jazzed+ with over 50 audio channels and thousands of on-demand videos and articles.
This follows recently announced new contracts with Triller and a six-month contract with a global technology company commencing in August 2020. The Company continues to negotiate with new and existing channel partners for its Music Platform-as-a-Service offering and further announcements will be made as appropriate.
Further details will be provided at the time of Full Year Results for the period ended 31 December 2019 and Interim Results for the six-month period ended 30 June 2020 expected to be issued on Monday, 28 September 2020.
Enquiries
7digital | 020 7099 7777 |
Paul Langworthy, CEO |
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Arden Partners (Nominated Adviser and Broker) | 020 7614 5900 |
Richard Johnson, Benjamin Cryer |
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Luther Pendragon (Financial PR) | 020 7618 9100 |
Harry Chathli, Joe Quinlan, Elliot Fradd |
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About 7digital (www.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. From years of being the largest independent producer of programming for the BBC and powering services for partners like Soundtrack Your Brand, Global Eagle, Grandpad and Fender, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.