31 Jul 2020 16:04
31 July 2020
7digital Group plc
("7digital" or "the Company")
Response to Price Movement
7digital (AIM: 7DIG), the global leader in B2B end-to-end digital music solutions, notes the recent movement in its share price. The Company also notes speculation in connection with the settlement of litigation in the US and confirms that, while the case remains ongoing with other defendants, the Company has been removed from the action. The Company paid its own minimal legal costs but the case is otherwise expected to have no impact on its ongoing operations. In line with its stated objectives to grow the business, the Company continues to negotiate with new and existing channel partners for its Music Platform-as-a-Service offering. Such contracts are expected to be on broadly equivalent terms to those previously announced and further announcements will be made as appropriate.
Enquiries
7digital | 020 7099 7777 |
Paul Langworthy, CEO | |
Arden Partners (Nominated Adviser and Broker) | 020 7614 5900 |
Richard Johnson, Benjamin Cryer | |
Luther Pendragon (Financial PR) | 020 7618 9100 |
Harry Chathli, Joe Quinlan, Elliot Fradd |
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.