7digital announces Q1 2016 contract wins
Agreements reached with Global Radio, i.am+, Red Bull Media House, Klassik Radio & Mus
London, UK, March 30 2016 – 7digital (AIM:7DIG), the B2B digital music and radio services company, is today pleased to announce, in conjunction with its preliminary results for the year ended 31st December 2015, several new contract wins since the start of the year.
During the first quarter of 2016, 7digital reached agreements with 5 new clients: Global Radio, i.am+, Red Bull Media House, Klassik Radio and Mus. Together, these contracts have a cumulative lifetime value of £3.6m.
In 2015, 7digital signed 17 new clients during the year with a cumulative lifetime deal value of £4.2m.
7digital has been contracted by Global Radio to provide back-end technology and access to its licensed catalogue of 48 million tracks. The Company provides support for the unique streaming music and live listening app produced by UK radio station Capital XTRA.
The agreement with Will.i.am’s technology company i.am+ builds on a relationship that commenced in 2014. This signalled 7digital’s first move into the fast growing wearables sector and is an example of how the Company can enable and participate in disruptive new product categories.
In addition, 7digital has reached agreements with Red Bull Media House, the multi-platform media company with an emphasis on sports, culture, and lifestyle, and German broadcaster Klassik Radio.
The Company is also working with Mus, a new Uruguayan service with plans to focus heavily on local musicians and labels.
Simon Cole, CEO of 7digital, commented:
“These contract wins demonstrate the variety of clients around the world who are relying on 7digital to provide technology, licensing or creative services for their digital music offerings. The agreements we have reached in the first quarter – and their cumulative lifetime value – mark an impressive start to the year and continued progress in our target sectors.”
7digital is a B2B digital music and radio services company. 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 such as Onkyo, Guvera, Red Bull Media House, Global Radio and The Overflow. From years of being the largest independent producer of programming for the BBC, launching Radioplayer in multiple territories, and powering services for partners like HMV, Panasonic and ROK Mobile, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.
Note - 7digital also just issued their Preliminary Results for the Year ended in 31 December 2015 available here.