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UBC MEDIA

Equities

7DIG

GB00BMH46555

7Digital Group plc Announces New Contracts with Mediamarktsaturn

January 12, 2018 at 02:00 am EST

7digital Group plc announces new contracts with MediaMarktSaturn. 7digital confirmed that it has signed a further agreement with its large individual shareholder and one of its biggest customers, MediaMarktSaturn, to cover the migration of the existing "Juke" music service in Germany onto the 7digital platform. The contract involves a significant setup fee for work done in 2017 and ongoing monthly recurring revenues. In addition, the Company announced it has signed a contract with 8tracks, a popular digital music service based in the US. 8tracks was founded in 2008 and focuses on music discovery through crowd-curated playlists. The deal has a one-year minimum term and is expected to contribute to 7digital's revenues for 2018 and beyond.

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Company Profile

7digital Group plc is a United Kingdom-based company that provides business-to-business (B2B) end-to-end digital music solutions. The Company's business is engaged in the provision of scalable technical infrastructure combined with global music rights used to create music streaming and radio services. It operates through three segments: Licensing, Content and Creative. Its Licensing segment is engaged in the creation of software solutions for managing and delivering digital content. Its Content segment is engaged in the sales of digital music direct to consumers. Its Creative segment is engaged in the production of audio and video programming for broadcasters. It caters to a diverse range of B2B customers, including consumer and social media brands, online fitness companies, mobile carriers, broadcasters, automotive systems, record labels and retailers. The Company's wholly owned subsidiaries include 7digital Limited, 7digital Creative Limited and 7digital Trading Limited.

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