21 Jan 2016 07:00
21 January 2016
7digital Group plc
("7digital" or "the Company")
eMusic contract win
7digital (AIM:7DIG), the digital music and radio services company, is today pleased to announce a deal with eMusic, a leading music discovery and download-to-own destination. The deal will see 7digital power the eMusic service re-launch and will allow eMusic's new owners to build new features into the service through use of 7digital's technology and content management system.
It was announced in October 2015 that TriPlay had acquired eMusic, making the combined entity one of the largest, most comprehensive digital music services in the world, comparable only to Apple iTunes and Amazon with a broad offering of features including its own music store, music player and accessibility on over 14 platforms via the web and apps. TriPlay will offer its millions of active, eclectic and music-savvy users access to tracks from a comprehensive catalogue of more than 25 million songs from every genre. Now, for the first time, eMusic users will have instant access to their extensive music collections, both online and offline, on any device, anywhere in the world.
Through the deal, eMusic will access their licensed content from 7digital's global catalogue of over 40 million tracks. eMusic will also rely on 7digital for rights holder reporting and benefit from other enhancements to the service offering.
The eMusic service will use 7digital's platform to power and improve its user experience and content offering. Improvements include newly enhanced metadata for classical music that promises to provide better search and discovery of classical tracks and albums, as well as the addition of an extensive library of hi-resolution lossless audio in both 16-bit (CD quality) and 24-bit (premium quality) FLAC.
The deal will contribute to 7digital's revenues for 2016.
Simon Cole, CEO of 7digital commented:
Simon Cole, CEO of 7digital, commented: "TriPlay has an exciting plan for building innovative and compelling features into their newly acquired service and we are proud to be a part of it. The pioneering eMusic brand and existing user base have a strong value that upholds the spirit of independent music and cultivates service diversity in the marketplace. It is great that TriPlay see the opportunity behind bringing this service back to the forefront and are actively working to improve the listening experience with the support of our platform".
ENDS
Enquiries:
7digital Group | 020 7099 7777 |
Simon Cole, Chief Executive | |
Chris Dent, Chief Financial Officer Holly Ashmore, PR Manager | |
finnCap (nominated adviser and broker) | 020 7220 0500 |
Geoff Nash/ Carl Holmes/ Simon Hicks - Corporate Finance | |
Malar Velaigam - Corporate Broking Weber Shandwick (Financial PR agency) |
020 7067 0000 |
Nick Oborne - Noborne@WeberShandwick.com Tom Jenkins - TJenkins@webershandwick.com |
About 7digital (http://about.7digital.com)
7digital is a B2B digital music and radio services company. 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 customers such as Onkyo, Guvera, OpenLIVE, and The Overflow. From years of being the largest independent producer of programming for the BBC, launching Radioplayer in multiple territories, and powering services for partners like HMV, Panasonic and ROK Mobile, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.