7digital Group PLC Universal Music Group Contract Wins (6232B)

TIDM7DIG

RNS Number : 6232B

7digital Group PLC

24 September 2018

24 September 2018

7digital Group plc

("7digital" or the "Company")

Announcement of Universal Music Group contract wins

7digital Group plc (AIM: 7DIG), the global leader in B2B digital music solutions, is pleased to announce it has entered into agreements with Universal Music Group ("UMG") to provide partner services across three of UMG's separate digital music products. The global agreements each cover a multi-year term and will contribute to 7digital revenues in 2018 and beyond.

Simon Cole, CEO of 7digital, commented:

"We are delighted to be announcing agreements with the world leader in music-based entertainment, Universal Music Group, since each contract focuses on UMG initiatives that enable deeper engagement between artists and their fans, and leverage a range of revenue streams within digital music."

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 and 
   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 MediaMarktSaturn, Onkyo 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 Fender, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.

About Universal Music Group

Universal Music Group is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual content in more than 60 countries. Featuring the most comprehensive catalog of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation and entrepreneurship, UMG fosters the development of services, platforms and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. Universal Music Group is a Vivendi company.

Find out more at: http://www.universalmusic.com.

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September 24, 2018 02:00 ET (06:00 GMT)