7digital Group PLC Triller contract win

TIDM7DIG

7digital Group PLC

17 August 2018

17th August 2018

7digital Group plc

("7digital" or the "Company")

Announcement of Triller contract win

7digital Group plc (AIM: 7DIG), the global leader in B2B digital music solutions, is pleased to announce it has signed a contract with Triller, an AI-powered music video platform, to provide access to music (preview clips) and manage label reporting. The Triller platform currently has over 29 million users, across 14 countries and five continents. The agreement covers an initial 18-month period and will contribute to 7digital revenues in 2018 and beyond.

Simon Cole, CEO of 7digital, commented:

"We are delighted to be announcing this deal with Triller. 7digital is expert at providing access to music for innovative platforms of this type, having previously partnered in 2016 with musical.ly, another fast-growing social media platform based around video and music with a strong international footprint. Triller's product represents one of the ways in which audiences now consume and share content online, creating a new revenue stream within digital music and significant potential for growth."

Mike Lu, CEO of Triller, commented:

"This relationship between Triller and 7digital gives video content creators and Triller influencers even greater opportunity to share their talents and make their mark on the social media world using the latest chart-topping hits. 7digital's prominent presence in countries outside of the U.S. will help to further increase Triller's global footprint."

Last month, Triller announced a new monetization model that helps influencers raise money from fans, brands and music labels for purpose-driven goals.

Triller raised a $4.5 million seed round in May 2016 and a $5 million Series A funding round in February 2018, with plans to expand its AI technology and develop the brand as a talent discovery platform.

For further information please contact:

 
 7digital                                        020 7099 7777 
 
   Simon Cole, Chief Executive 
 David Holmwood, interim Chief Financial 
  Officer 
  Holly Ashmore, PR Manager 
 
 
   Arden Partners (nominated adviser, broker)      020 7614 5900 
 
   Chris Hardie/Ruari McGirr/Benjamin Cryer 
   - Corporate Finance 
 
 
 

About 7digital

7digital is the global leader in B2B 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 and powering services for partners like Panasonic, TDC and Electric Jukebox, 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

NRAGGUWARUPRUMM

(END) Dow Jones Newswires

August 17, 2018 03:54 ET (07:54 GMT)