7digital Group PLC HDmusicStream hi-res streaming service

TIDM7DIG

7digital Group PLC

05 June 2017

RNS Reach

05 June 2017

7digital Group plc

("7digital" or "the Company")

HDmusicStream hi-res streaming service

7digital (AIM:7DIG), the global leader in end-to-end digital music solutions, confirms that it will power a forthcoming high resolution streaming service from the founders of HDtracks. The HDmusicStream service will use MQA technology to deliver studio quality music, while 7digital will handle app development, host the music catalogue on its platform and deliver tracks to consumers.

Recent announcements by Sony Music Group and Merlin confirm that MQA has secured major and independent label support for its technology. Along with Warner Music Group and Universal, who previously revealed partnerships with MQA, those labels will make their music catalogues and new releases available in the hi-res MQA format.

The HDmusicStream service is expected to launch in H2 2017.

7digital's Deputy CEO, Pete Downton, will be appearing at music industry conference Midem in Cannes this week (Tues 6(th) June) discussing the next wave in subscription music with representatives from DEG (Digital Entertainment Group), Universal Music Group and Sony Music Entertainment, MQA and Qobuz.

7digital previously announced this contract on an un-named basis within its interim results statement for the six months to 30 June 2016, published on 19 September 2016.

Pete Downton, Deputy CEO of 7digital, said:

"We are excited today to be able to confirm our relationship with HDtracks. The Grammy Award-winning label Chesky Records - from HDtracks founders David and Norman Chesky - has, for many years, set the highest standards in high resolution audio. Their pursuit of excellence will soon be available to audiophile music fans in a streaming service for the first time".

Enquiries:

 
 7digital Group                                  020 7099 7777 
 Simon Cole, Chief Executive 
 Matt Honey, Chief Financial Officer 
  Pete Downton, Deputy CEO 
  Holly Ashmore, PR Manager 
 
 
   finnCap (nominated adviser and broker)          020 7220 0500 
 Geoff Nash / Carl Holmes - Corporate Finance 
 Malar Velaigam / Mia Gardner - Corporate 
  Broking 
 
 
   Weber Shandwick (financial PR agency) 
   Nick Oborne - [e-mail] 
   Tom Jenkins - TJenkins@ webershandwick.com 
 
   About 7digital (http://about.7digital.com)      020 7067 0000 
 

7digital is the global leader in end-to-end digital music solutions. 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, Global Radio and musical.ly. 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, Electric Jukebox and Panasonic, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.

This information is provided by RNS

The company news service from the London Stock Exchange

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June 05, 2017 02:00 ET (06:00 GMT)