14 July 2021
7digital Group plc
("7digital" or "the Company")
7digital extends contract with Global Technology Company
Further to the Company's announcement of 20 August 2020, 7digital (AIM: 7DIG), the global leader in B2B end-to-end digital music solutions, is pleased to announce that it has signed an extended contract continuing into 2023 with its global technology company customer.
The customer will use 7digital's platform to access a world-wide music catalogue from rights-secured labels, and the new deal also includes tracking and reporting services.
Paul Langworthy, CEO of 7digital, said: "Following a successful initial term, we are delighted to be expanding our contract with this global technology company on an extended term. This is a major validation of the global scale and reach of our platform, which makes it easy for brands and enterprises to deliver music anywhere in the world to millions of users and is helping to drive growth in the industry. Additionally, the longer-term contract provides us with improved revenue visibility going forward and contributes towards achieving positive EBITDA for the full year."
c/o 020 7618 9100
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Arden Partners (Nominated Adviser and Broker)
020 7614 5900
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Luther Pendragon (Financial PR)
Harry Chathli, Joe Quinlan
020 7618 9100
7digital is the global leader in B2B end-to-end digital music solutions, providing a scalable cloud-based platform that enables companies and brands to connect to its global music catalogue and rights management system to launch and manage unique and engaging music experiences. Operating worldwide in over 80 markets and integrated with more than 300,000 labels and publishers, 7digital's platform automates the complex and time-consuming processes of music management, making it easier to access and use music in streaming services, social media, home fitness, gaming, retail and more. With best-in-class infrastructure, deep industry expertise and intelligence tools, 7digital empowers their clients to innovate, grow and serve tomorrow's music consumer. For more information, visit http://www.7digital.com/.