7digital announces interim results for H1 2017

7digital announces interim results for H1 2017


Today (26th Sep 2017), we announced 7digital’s interim results for the half year ended 30th June 2017.

For the full announcement, visit our Investors page and click ‘Latest RNS’.

Highlights include:

Post Period End Highlights

Simon Cole, Chief Executive of 7digital, said:

“These results show clearly, after just one month, how transformational the acquisition of 24-7 and, with it, the relationship with MediaMarktSaturn will be for the Group. Our work to create a suite of new digital services for Europe’s biggest entertainment and electronics retailer has begun and will gain momentum in the second half and into 2018.

Our licensing revenues continue to see the results of the global growth in music streaming and, more particularly, the development of services in new markets and with new business models. In-flight entertainment, with our first client Global Eagle and today’s news of our new contract with Fender are just two examples.

We have always believed that the mature music streaming market will be about much more than “all you can eat”  services for a fixed subscription. 7digital’s business is in providing the tools and the platform on which our customers build the myriad of ways in which people will consume digital music in the future.

Our healthy first half performance has continued into the second half of the year, our pipeline is strong and the Board is confident in meeting full year expectations for 2017 and seeing the full benefits of consolidation realised in 2018 and beyond.”

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