23rd Oct 2019 09:15
(Alliance News) - 7digital Group PLC on Wednesday said it has been awarded an initial year-long contract by an unnamed music streaming services provider.
The AIM-listed radio services platform will be paid a fixed fee plus usage costs depending on scale for the provision of its music-as-a-service platform.
Initially, the client's full premium service will be launched in a single European market, 7digital explained, which will be followed by a rollout in several countries over the coming year.
Under the terms of the agreement, 7digital will deliver access to its extensive music catalogue via its application program interfaces, along with audio fingerprinting service enabling the customer to use its software to profile the audio files and deliver personalised streaming.
"The continued growth in streaming sees with it new and innovative ways of discovering music and we are seeing a trend of combining data and content to create unique differentiated user experiences that achieve a new level in personalization and engagement," said 7digital Chief Executive Paul Langworthy.
"We have a strong track record in providing a flexible music application program interface and global catalogue, and partnerships with innovators in the music industry enable us to demonstrate how we are able to service the needs of different businesses to support new business models and experiences in the music industry," added Langworthy.
7digital shares were trading 5.3% lower in London on Wednesday at 0.18 pence each.
By Evelina Grecenko; [email protected]
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