Partnership Confirmed for will.i.am's New 'Puls' Smartwatch
Further to the announcement of 13 October 2014, 7digital (AIM:7DIG), the digital music and radio services company, announces that last night in San Francisco, musician and entrepreneur, Will.i.am, demonstrated a new music service developed by 7digital on his wearable “Puls” device.
7digital is pleased to confirm that it has now entered into an agreement with i.am.plus llc for the development of applications and operation of the music service.
The revenue from this service further supports the transition from 7digital’s historical downloading business to new revenues from streaming services and underpins the Board's revenue expectations. As such, the Company does not expect that the new agreement will lead to a change in market expectations with respect to the Company’s financial performance.
Simon Cole, CEO of 7digital, Commented:
“This is obviously a very exciting time for the company. There is a massive change going on in digital music as new streaming models replace the buy to own downloading model. Many of these, like the service launched last night by will.i.am, will be designed for ease of use on mobile and wearable devices. These services require the technology platform and expertise in both radio and streamed music that 7digital has at its core.”