25 Apr 2022 07:00
25 April 2022
7digital Group plc
("7digital" or "the Company")
7digital wins new £1 million contract with multinational corporation
7digital (AIM: 7DIG), the global leader in B2B end-to-end digital music solutions, is pleased to announce that it has signed a new two-year contract worth at least £1 million with a pan-Asian consumer services company.
The new customer will be using several unique services provided by 7digital's music-as-a-service platform to deliver an app-based music streaming service to enhance its engagement with its customers. The Company will provide access to its global catalogue, full license compliance management and curation via the 7digital Playlisting Tool.
Paul Langworthy, CEO of 7digital, said: "This is a major, multi-year contract for 7digital that further enhances our visibility over our forecast revenues for the next two years. It is an important endorsement of our offering having been awarded by a multinational corporation and after a competitive tender. This win also reflects how brands are increasingly utilising digital music solutions to engage with their customers. We're pleased to see our pipeline continue to translate to signed contracts and we look forward to updating the market on further progress."
Enquiries
7digital Paul Langworthy | c/o +44 20 7618 9100 |
Arden Partners (Nominated Adviser and Broker) Richard Johnson | +44 20 7614 5900 |
Luther Pendragon (Financial PR) Harry Chathli, Claire Norbury | +44 20 7618 9100 7digitalIR@luther.co.uk |
About 7digital
7digital is the global leader in B2B end-to-end digital music solutions, providing a scalable cloud-based platform that enables companies and brands to connect to its global music catalogue and rights management system to launch and manage unique and engaging music experiences. Operating worldwide in over 80 markets and integrated with more than 300,000 labels and publishers, 7digital's platform automates the complex and time-consuming processes of music management, making it easier to access and use music in streaming services, social media, home fitness, gaming, retail and more. With best-in-class infrastructure, deep industry expertise and intelligence tools, 7digital empowers their clients to innovate, grow and serve tomorrow's music consumer. For more information, visit http://www.7digital.com/.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014, as implemented into English law ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.