7digital announces deal with Dubset
7digital (AIM:7DIG), the global leader in B2B end-to-end digital music solutions, is delighted to announce that it has signed a contract with Dubset Media, Inc. ("Dubset")
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7digital has agreed an initial one year deal with Dubset, a rights tech company that identifies, claims, and collects royalties for labels and publishers when their catalogues are found within mix content. This clearance process enables DJs and producers to legally distribute their mixes and remixes to major music services including Apple Music, Spotify, and Tidal. Under the terms of the deal, 7digital will provide access to the Company's music platform to assist Dubset in further enhancing its proprietary MixSCAN recognition technologies.
Commercial terms are confidential but the deal will contribute to 7digital's monthly recurring revenues for 2019 and the company will receive a significant set-up fee.
Commenting on the partnership, Simon Cole, CEO of 7digital, said: "Technology has levelled the playing field when it comes to creating music and distributing it to a receptive audience. This is a hugely exciting development, but it brings with it unique challenges. Dubset is growing a new marketplace for DJ sets and remixes, which represents a valuable revenue stream for rightsholders. We're delighted to be using our platform to partner with Dubset and deliver value both to the music industry and to individual creators."