24 Mar 2015 07:01
7digital Group plc
("7digital" or "the Company")
New Contracts
New Contract with Sainsbury's and Extension of Guvera Contract
7digital (AIM:7DIG), the digital music and radio services company, is pleased to announce today a new contract with J Sainsbury plc ("Sainsbury's") as well an expansion of its existing contract with Guvera.
New Contract with Sainsbury's
7digital has been appointed by Sainsbury's, a leading UK retailer, to provide the platform and content for the music section of Sainsbury's online entertainment offering. The three-year deal will include access to 7digital's library of over 31 million tracks, its delivery systems and platform and reporting tools for which Sainsbury's will pay monthly fees.
Expansion of Contract with Guvera
The Guvera streaming music service, available on Lenovo mobiles and tablets, is currently powered by 7digital in the UAE, Saudi Arabia and India. Guvera added an additional eight emerging market territories in August 2014 and has now awarded 7digital the contract for powering its services in Europe. Five European territories will be launched later this year including the UK, where 7digital is working in association with Blinkbox Music for the Guvera branded service.
7digital now provides services to Guvera in 16 territories, and with each additional territory, 7digital's monthly recurring revenues increase.
Simon Cole, CEO of 7digital, commented:
"I am very pleased to be able to announce both an important new customer in Sainsbury's, with whom we look forward to working as they develop their online entertainment offering, as well as the development of our relationship with Guvera. Within a year of first doing business with together, we have developed a deep working relationship and expanded our businesses. Guvera is a fast moving, innovative organisation with a streamed music model that we have seen gain significant traction. I look forward especially to working with them on their new UK service following their successful acquisition of the Blinkbox service."
Michael DeVere, COO and Deputy Chairman of Guvera commented:
" 7digital have proved they can deliver in some of our most challenging markets. We have developed a close working relationship and I'm very pleased that we will be working together in Europe."
Enquiries:
7digital Group | 020 7099 7777 |
Simon Cole, Chief Executive Officer | |
Chris Dent, Chief Financial Officer |
finnCap (nominated adviser and broker) | 020 7220 0500 |
Charlotte Stranner/ Simon Hicks - Corporate Finance | |
Victoria Bates - Corporate Broking |
Powerscourt | 020 7250 1446 |
Juliet Callaghan / Simon Compton |
About 7digital Group PLC
7digital are the power behind innovative digital listening experiences. Their robust, scalable technical infrastructure and extensive global rights are used to create comprehensive music and radio services for leading consumer brands, mobile carriers, broadcasters, automotive systems, retailers, record labels, artists and agencies. Alongside proven product knowledge, they offer award-winning radio production and music curation services, superior editorial strategy and content management expertise, making them a leading partner in this space.
7digital foster industry growth and innovation by simplifying access to music for clients such as Panasonic, Onkyo, Guvera, ROK Mobile, and The Overflow. From their years of being the largest independent producer of programming for the BBC, launching Radioplayer in multiple territories and powering services for partners like Samsung, BlackBerry and T-Mobile, 7digital are perfectly positioned to lead innovation at the intersection of digital music and next generation radio services.
http://about.7digital.com/