9th Sep 2014 07:42
LONDON (Alliance News) - 7digital Group PLC shares were given a boost in early trade on Tuesday after the company said the German commercial radio industry will adopt the Radioplayer platform for web and mobile access for all commercial stations in the country.
Radioplayer Deutschland, a partnership between the leading 18 commercial broadcasters in Germany, will launch the technology in the country in January. The group recently signed a deal with Radioplayer Worldwide, a 7digital-led consortium created to licence the platform internationally.
7digital, the digital music and radio services company, handles the software which manages station listings and search functionality in the Radioplayer platform and will receive monthly recurring revenues from the deal, though it did not provide details on the payments.
"Radioplayer is an important part of the software platform that came from the merger with UBC Media and is part of our vision for the digital future of radio and music," said 7digital Chief Executive Simon Cole.
"As both the radio and music industries move to an online future, we have the tools to manage the transition and create services that bring the two together," Cole added.
7digital shares were briefly up around 8% in opening trade, before paring back to be up 6.4% to 21.82 pence Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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