19th Feb 2016 08:02
LONDON (Alliance News) - Digital media and technology company Milestone Group PLC on Friday said its Nexstar joint venture with Black Cactus Holdings Pty has launched a new music streaming platform called MusicRoo.
The platform has been developed by Black Cactus and will gather music content from a number of suppliers, while allowing users to buy music from its library.
The library will be provided under licence from other streaming services, including Deezer and Spotify, and will include more than 35.0 million licensed tracks.
"All our development work of the last few years is complete, and our focus now is on revenue generation," said Milestone Chief Executive Deborah White.
Milestone also said it will issue 18.01 million shares at 1.0 pence per share to raise GBP180,100, to be used for general working capital purposes.
Milestone shares closed on AIM at 0.35 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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