7DIG.L Regulatory News (7DIG)

RNS Reach

8 September 2020

7digital Group plc

("7digital" or "the Company")

7digital wins new contract with Apex Rides

7digital enters home fitness space with out-of-the-box solution to support music-based virtual fitness service

7digital (AIM: 7DIG), the global leader in B2B end-to-end digital music solutions, is pleased to announce that it has signed an initial 12-month contract with Apex Rides Limited ("Apex"), a cutting-edge high performance smart bike and in-home fitness platform, to service music for its virtual exercise classes.

In exclusive partnership with London-based boutique fitness pioneer Boom Cycle, new-to-market Apex provides a full home exercise connected bike and subscription service with live and on-demand interactive classes. With hardware pricing at a fraction of the leading market competitors and premium class content planned to attract and retain customers, Apex's solution is designed as an accessible alternative for the mainstream market.

Apex is using 7digital's in-house licensing services to negotiate and finalise rights to millions of premium tracks. Through 7digital's catalogue and playlisting tool, instructors will have access to fully cleared and compliant music for programming their classes, making it easy to create custom playlists curated by genre, tempo or music theme in line with the emotional connection and spirit of each class. In addition to playlisting and catalogue curation, 7digital will also provide the backend label and publishing reporting.

Paul Langworthy, CEO of 7digital, said: "We are delighted to be partnering with Apex Rides, which has music at the core of its virtual cycling experience, to help drive further growth into the exciting home fitness space. A core pillar of our business strategy centres on the flexibility of our technology, products and services to not only serve established markets but also new and emerging verticals that will create diversified music streaming business models. As this sector heats up, we are proud to provide the end-to-end services that can support innovators such as Apex Rides to forge new frontiers in the fitness market with new formats for music licensing use cases."

Commenting on the agreement, Simon Cook, co-founder of Apex, said: "We recognised from the start that music is an essential and powerful ingredient in the context of fitness and wellness, and we needed to make sure our instructors had the tools to give members the best overall user experience. Boom Cycle's innovative instructors know how to use music to create specific moods, and bring energy and community to the experience, while 7digital's technology makes it easy maximise the full potential of our licensing agreements."

Charlie Lucas, co-founder of Apex continued: "Collaborating with 7digital's experienced licensing team, in-tune and in-step with the music rights holders, will deliver us a world-class collection of licensed music at launch, while ensuring that concise and accurate royalty reporting is fully covered. In addition, their proprietary digital playlist tool makes it simple for our partner fitness leaders to use music to create unique narratives and experiences that will keep people challenged, motivated and engaged with our programme."

Enquiries

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.

About Apex Rides Limited

Apex is the newest and most inclusive at-home exercise bike to hit the UK market. With a uniquely fresh and ergonomic design, state-of-the-art technology and gamified software, it is the only premium product of its type with an accessible price point. Apex is partnered with renowned London spin studio Boom Cycle to create exclusive live and on-demand classes, available on an affordable subscription basis. The bike is compact and comes in four colours, and uses Bluetooth technology to connect to the user's iPad or iPhone, where they can stream and take part in Apex classes. Real-time interactive leader boards measure RPM and resistance, and reward each rider with Apex points. The Apex bike is available to buy at www.apexrides.com and will be stocked on www.johnlewis.com.

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