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7digital Group PLC (7DIG)

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Monday 25 October, 2021

7digital Group PLC

£1m signed in seven new contracts

RNS Number : 0237Q
7digital Group PLC
25 October 2021
 

25 October 2021

7digital Group plc

("7digital" or "the Company")

 

£1m signed in seven new contracts

 

7digital (AIM: 7DIG), the global leader in B2B end-to-end digital music solutions, is pleased to announce that it has signed contracts with new and existing customers worth an aggregate total of £1 million over the term of the contracts, of which over £700k has been secured within the last month and with the majority of the total to be recognised in 2022. The Company has won three new clients and secured four contract expansions and extensions, including within the Company's key markets of music streaming and home fitness.

 

The Company's three new customers have been secured on long-term contracts, which all have an initial term of 24 months. The four contract extensions with existing customers include the expansion of contract period as well as the provision of additional services.

 

Paul Langworthy, Chief Executive Officer of 7digital, said: "These new and renewed contracts reflect the continued growth in demand for our music services including in our target segment of home fitness. As previously stated, multiple new contracts are awaiting signature and it is great to see these start to come through. It is also pleasing that we are receiving more-and-more long-term contracts, which enhances our visibility over future revenues. With our new financing in place, we continue to strengthen our fundamentals and look to the future with confidence."

 

 

Enquiries  

7digital

Paul Langworthy

c/o +44 20 7618 9100

 

 

Arden Partners (Nominated Adviser and Broker)

Richard Johnson

+44 20 7614 5900  

 

 

Luther Pendragon (Financial PR)

Harry Chathli, Claire Norbury   

+44 20 7618 9100  

[email protected]

 

 

About 7digital   

 

7digital  is the global leader in B2B end-to-end digital music solutions, providing a scalable cloud-based platform that enables companies and brands to connect to its global music catalogue and rights management system to launch and manage unique and engaging music experiences. Operating worldwide in over 80 markets and integrated with more than 300,000 labels and publishers, 7digital's platform automates the complex and time-consuming processes of music management, making it easier to access and use music in streaming services, social media, home fitness, gaming, retail and more. With best-in-class infrastructure, deep industry expertise and intelligence tools, 7digital empowers their clients to innovate, grow and serve tomorrow's music consumer. For more information, visit  http://www.7digital.com/

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014, as implemented into English law ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.

 

 

 

 

 

 

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