24th Aug 2020 10:43
(Alliance News) - Shares rose in 7digital Group PLC on Monday as it announced the winning of a follow-on contract with audio-visual streaming service 'jazzed'.
Shares in 7digital, a digital music and radio services platform, were 13% higher at 3.52 pence on Monday in London.
Under the initial 12-month contract, jazzed will use 7digital's application programming interface and platform access to fuel its roll-out into several new territories, allowing jazzed users to stream tracks of the jazz genre from 7digital's own catalogue.
The extended deal will include on-demand access to around 5 million music tracks in high-definition lossless audio. In addition, 7digital will receive a monthly licensing fee and usage-based payments as part of the contract.
7digital said it will publish its 2019 results and interim results for 2020 on September 28.
By Dayo Laniyan; [email protected]
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