9th Feb 2015 09:02
LONDON (Alliance News) - Digital music and radio services company 7Digital Group PLC on Monday said its partner Onkyo Corp has launched its e-Onkyo digital music store in the US, the UK and Germany.
7Digital said it receives monthly recurring revenue from Onkyo for access to its platform, on which the e-Onkyo service is based, and the fees increase incrementally when new territories are added.
"Onkyo has a history of being the first to market in Japan and a legacy of great innovation around superior audio systems. As high-res begins to be defined for consumers, we think it is important to work with partners who are really trusted and understand quality in audio," said 7Digital Chief Executive Officer Simon Cole.
Shares in 7Digital were down 0.7% to 16.26 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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