29 May 2018 07:00
29 May 2018
7digital Group plc("7digital" or the "Company")
Contract wins, client service launches, and notice of Preliminary results
7digital Group plc (AIM: 7DIG), the global leader in B2B digital music solutions, is pleased to update on territory launches for the Juke streaming music service on behalf of client MediaMarktSaturn Holdings ("MMS") and give more details of an important recent contract win.
Juke/ MediaMarktSaturn
As previously announced, 7digital has been working on a long term contract with MediaMarktSaturn Holdings to develop the Juke streaming music service throughout Europe.
7digital is pleased to announce today that the service was successfully launched in April in the Netherlands and that last week, Juke was successfully re-launched on the 7digital platform in the key German market. MMS have further indicated that they expect to launch in Spain in the coming months and the Company expects the service ultimately to be extended to all 15 territories in which MMS operates. All territory launches involve setup fees and an increase in monthly charges for access to the 7digital platform.
Contract win
On 23 April, the Company announced a contract win in the area of live music and is now able to provide more detail.
7digital has signed a contract with Powerchord Ltd whose PEEX brand (www.peex.live) will offer to improve the live music experience, allowing concert-goers to experience enhanced audio both during performances and to download tracks from concerts after the performance.
7digital has signed a 3-year deal with PEEX to provide technology and reporting services for the platform. PEEX will be launching soon in the UK, US and Europe, with the free PEEX app and downloads of iconic live shows available from an A-list artist, while the PEEX wearable technology will go on pre-sale later this summer.
Preliminary Results
7digital intends to announce its Preliminary results for the year ended 31 December 2017 on or before 29 June 2018.
Simon Cole, CEO of 7digital, commented:
"Our core strategy has focused on developing the next generation of digital music services that combine the best of radio and streaming. The latest Juke territory launches represent the same commitment from our client MediaMarktSaturn. We've always thought that innovation in digital music services is where significant new business for 7digital will come from, and the new contract with Powerchord is a good example of that. We're delighted to be working with clients who are serving their customers through innovating in digital music."
For further information please contact:
7digital | 020 7099 7777 |
Simon Cole, Chief Executive | |
Matt Honey, Chief Financial Officer Holly Ashmore, PR Manager | |
Arden Partners (nominated adviser, broker and bookrunner) |
020 7614 5900 |
Chris Hardie/Ruari McGirr/Benjamin Cryer - Corporate Finance | |
Fraser Marshall - Corporate Broking | |
About 7digital
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, Global Radio and musical.ly. From years of being the largest independent producer of programming for the BBC and powering services for partners like Panasonic, TDC and Electric Jukebox, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.