About 7digital


7digital aims to simplify access to the world’s music and radio. Our robust, scalable digital music platform and flexible APIs are used to power comprehensive music and radio services for leading consumer brands, mobile carriers, hardware manufacturers, broadcasters, automotive systems, retailers, record labels, artists and agencies. Alongside proven technology, we offer global music rights, award-winning radio production services, and content management expertise, making us a leading global partner in this space. We are listed on AIM in London (visit our Investor page for more information).



Technology

Our flexible API allows partners to harness the power of music through download or streaming services, while we take care of highly complex infrastructure management, licensing and reporting. We have created a resilient and scalable technology platform that provides both us and our partners with the ability to innovate quickly.

Content

We are experienced purveyors, managers and creators of content. We license music from all the major labels, local independents and publishers, bringing our global catalogue to over 27 million tracks. Alongside licensing content, we produce award-winning music radio programming for some of the world’s biggest broadcasters, as well as cutting-edge speech and video content. Our content management system allows us to do the heavy lifting for any third party that wants access to a comprehensive, legally licensed, digital music catalogue.

Partners

We’re proud to have powered services for global brands like Samsung, T-Mobile, HMV and BlackBerry, as well as for up-and-coming companies like Germany’s Artistxite or Guvera in the Middle East. We are the largest independent producer of radio programming for the BBC and supply content and services to commercial radio stations throughout the UK and beyond.

Customers

As well as providing B2B services, we run our own music store, www.7digital.com, which is localised for 20 countries. Here we promote and sell music to a large and loyal base of customers. 7digital branded mobile apps are available for all operating systems and have been pre-installed on more than 60 million devices.

Company

Founded in 2004, 7digital now employs more than 125 people across three continents. We’re headquartered in Shoreditch in London, with offices in Luxembourg, San Francisco, New York, Manchester and Auckland. 7digital is the only UK-listed company to provide investor-exposure to the mass adoption of digital music via streaming and radio services.

Final results for UBC Media Group

RNS


RNS Number : 2116P

7digital Group PLC

15 August 2014






15 August 2014

7digital Group plc ("7digital" or "the Group")

Final results for UBC Media Group ("UBC Media" or the "Company")

7digital (AIM: 7DIG), the digital music and radio services company, reports final results for UBC Media Group, for the year ended 31 March 2014.

On 10 June 2014, UBC Media Group plc completed the reverse acquisition ("the Acquisition") of 7digital Group, Inc. and the Group was renamed as 7digital Group plc. These results cover pre-transaction historical trading for UBC Media and do not take into account any contribution from 7digital Group, Inc.

Following the Acquisition and re-admission to AIM, the Group changed its year-end to 31 December and expects to report its first set of results as a combined business on 30 September 2014, when it will release its figures for the half-year to 30 June 2014. That report will be a more accurate reflection of the current trading and future prospects of the new Group.

The Acquisition was completed for a consideration of £16.5m and as part of the process UBC Media completed a placing and subscription which, together with a bridging loan of £1m, raised a total of £7m to fund the combined business to a position of profitability. UBC Media carried out the transaction as part of its strategy to build a balanced business with experience in both digital music and radio as the two industries converge. The Acquisition has helped to create a business to business supplier of digital music services which currently provides nearly 100 customers in over 40 countries with a comprehensive set of products including on-demand music and radio streaming, music downloads, personalised radio, playlisting and curated content.

Simon Cole, Chief Executive of 7digital, commented:

"The combination of UBC Media and 7digital has created a business that is ideally positioned to benefit from the growth in digital music and the demand for radio streaming services. The synergies identified ahead of this deal have already begun to bear fruit, as evidenced by significant contract wins with the likes of Guvera, ROK Mobile and Onkyo, who were attracted by the comprehensive nature of the enhanced 7digital platform.

"As music is consumed across an increasing number of connected devices, 7digital is able to offer customers an independent and scalable platform that acts as the foundation for their digital music strategies. We are working hard to create a world leading digital music and radio platform and believe that the coming together of UBC Media and 7digital marks a major step towards fulfilling this ambition."

14 Aug finnCap 38.00 Corporate

If one is persuaded of the attractions of a punt on Audioboom, it is interesting to note that 7Digital Group (7DIG) (formerly UBC Media) holds an 18.7% stake in Audioboom which, at time of writing, is valued at £16.7 million. In the light of a market cap for 7Digital of just £20 million, this looks like a potentially interesting situation.

Formed by the combination of 7Digital and UBC Media, 7Digital has positioned itself as a B2B (business-to-business) services provider in the growing digital music and streamed radio market (hence the interest in Audioboom). Its global platform for music rights management and services covers 42 different countries with over 26 million tracks available globally for exploitation. In particular, I note the following comments from broker Investec:

“The number of songs is on par/better than other players (e.g. Spotify at ‘over’ 20m). We believe a new entrant would need to spend 3-4 years to replicate its platform and spend tens of million dollars given the number of rights and technology issues. 7digital should be preferable as a backbone provider to, say a JV with Spotify, as customers want control of their own valuable customer relationships.”

Crucially, this is an operationally geared business with a relatively fixed overhead base, so once breakeven is reached, profit growth could be very strong indeed.

Joint house brokers (salt shakers on standby) Investec and finnCap both envisage profitability in FY16 (year to December) and have price targets of 37p and 38p respectively, against a current share price of 16.375p. Although a sensible P/E-based metric isn’t possible until FY17 on their numbers, there is net cash of £6 million, which management believes is sufficient to “fund the combined business to a position of profitability.” Stripping out the current value of the stake in Audioboom, 7Digital is valued at just £3.3 million, which is less than net cash. If house brokers are to be given credence, this company could be making north of £2 million in 3 years’ time. It strikes me that those seeking exposure to Audioboom should consider doing so via 7Digital.




http://www.spreadbetmagazine.com/blog/thinking-of-investing-in-audioboom-take-a-look-at-7digital-i.html

Contract license for Radioplayer platform

RNS


RNS Number : 1026R

7digital Group PLC

09 September 2014






7digital Group plc

("7digital" or "the Company")



Contract license for Radioplayer platform



7digital (AIM:7DIG), the digital music and radio services company, is pleased to announce that the German commercial radio industry is to adopt the Radioplayer platform for web and mobile access to all of the country's commercial stations.

Radioplayer Deutschland, a partnership between the 18 leading German commercial broadcasters, is to launch the Radioplayer technology in Germany in January. Radioplayer Deutschland has signed an agreement with Radioplayer Worldwide ("RPW"), a consortium led by 7digital and created to license the UK Radioplayer platform internationally. 7digital is responsible for the software that manages both station listings and search functionality in Radioplayer and will receive monthly recurring revenues from the deal.

Consisting of a flexible desktop player, backend tools, search engine, mobile and tablet apps, the UK Radioplayer is relied on by hundreds of stations in the UK as their default player. Success in the UK - where Radioplayer has more than 7 million users - has generated considerable interest abroad in the project, which creates a single media player for the entire radio industry in any territory. Germany now joins Norway and Belgium in adopting the technology and management at 7digital is confident of further similar deals in the coming months.



Simon Cole, CEO of 7digital, Commented:

"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. 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."

Hans-Dieter Hillmoth, General Manager of Radio FFH in Frankfurt commented

"It´s the right time for this joint industry project in Europe's biggest market, Germany, together with our British radio-colleagues. The web is an excellent additional platform for modern radio, and radioplayer.de will be a non-profit-project to support radio listening between the commercial and public broadcasters".



ENDS

9 Sep finnCap 38.00 Corporate

Following BOOM.

7digital partners with Spanish Broadcasting System

RNS


RNS Number : 9369S

7digital Group PLC

30 September 2014






30 September 2014





7digital Group plc

("7digital" or the "Company")



7digital partners with Spanish Broadcasting System



7digital (AIM: 7DIG), the digital music and radio services company, announces a new contract with Spanish Broadcasting System (SBS), one of the largest owners and operators of radio stations in the United States, to create new music offerings including a radio-style streaming service.



SBS is primarily focused on the US Hispanic audience and, as part of this agreement, 7digital's platform will be used to power the new service for SBS in the US under their brand La Musica. Through an online portal and mobile app, LaMusica.com currently streams 14 of SBS' leading Spanish-language radio stations, including WSKQ-FM, the nation's number one ranked Spanish-language radio station among adults 18-49, as well as the top-ranked radio station (regardless of language) in the New York City area, according to the most recent Nielsen Audio Ratings Report.



7digital's API and infrastructure will provide La Musica, SBS' online Latin music, entertainment and news destination, with secure content management technology and a royalty reporting system to support additional music products beyond the site's current radio station streaming offering



Simon Cole, CEO of 7digital commented:

"La Musica from SBS is a perfect example of the kind of services we are seeing emerging from the world's more visionary radio companies as radio and streaming music come together. Listeners want more from their radio experience and users of streamed music services want the content curation and 'lean back' experience that radio can offer. I'm pleased that our expertise in both music and radio, access to catalogue and a robust streaming platform has allowed SBS to bring this service quickly to market and I expect it to be a great success."



Raul Alarcón, Jr., Chairman and CEO of Spanish Broadcasting added:

"We continue to invest in strengthening our LaMusica.com portal and extending the robust content offerings we provide to the nation's passionate Latino music fans. Our agreement with 7digital will provide us with additional tools to maximize the LaMuscia.com experience, further building on our momentum as we seek to fully capitalize on our strong media brands and close ties to the vibrant Latino music community."





ENDS

Half Yearly Report

RNS


RNS Number : 9334S

7digital Group PLC

30 September 2014








30 September 2014

7digital Group plc

("7digital", "the Group" or "the Company")



Half Year results for the period ended 30 June 2014



7digital Group (AIM: 7DIG) (formerly UBC Media Group plc), the digital music and radio services company, today announces its results for the half year ended 30 June 2014.

As a consequence of the reverse acquisition of 7digital Group Inc by UBC Media Group plc ("the Reverse Acquisition") on 10 June 2014, the reported results for the half year to 30 June 2014 include six months of the 7digital Group and one month of the UBC Media Group.

Operational highlights

· Reverse acquisiton completed and net proceeds of £5.7m raised to fund the combined entity

· Shift from low margin content sales to high margin recurring platform licencing revenues has begun

· Integration of merged business completed within 3 months with all London staff now on one site

· Contract wins in the period from Guvera, Onkyo, ROK Mobile and a new agreement with BlackBerry

· 1.7m active monthly users of 7digital music app.

· Music library now 29m tracks with 150,000 added every week





Financial highlights

· Monthly Recurring Revenues (MRR) up 43% to £2.21m (2013: £1.55m)

· Turnover down 11% to £5.06m (2013: £5.68m) as low margin music download revenues decrease

· Gross Margin up to 49% from 43%

· Gross Profit up at £2.48m (2013: £2.45m)

· Adjusted LBITDA reduced by 9% to £1.81m (2013: £2.00m) (1)

· Adjusted Operating Loss reduced by 4% to £2.13m (2013: £2.22) (1)

· Statutory Loss for the period of £2.89m (2013: £2.24m)

· Cash balance at period end £5.3m





Post period-end Highlights

· Contracts for Radioplayer platform signed in Germany

· Expansion of US office and new contracts announced today with SBS, Lisnr and Pledge Music

· Strong growth in value of Audioboom investment to £13.5m, a gain of £8.3m since the period end





Simon Cole, Chief Executive, said: "I am pleased to report our first set of Interim results since the reverse acquisition of 7digital by UBC Media Group in June this year. Our strategy was to create a business that would benefit from the rapid growth in connected devices and the resulting significant changes occuring in the music and radio industries. The business is transitioning rapidly from low-margin sales of downloaded music to the provision of a platform from which our customers can quickly build new streaming services. We are already seeing the demand for our services in contracts won to date, rising monthly recurring revenues and in our sales pipeline. The Board are very excited about the potential of the combined business and, now the integration process is complete, we look to the future with confidence."





Notes:

(1) Adjusted for share based payments (£0.3m) and exceptional items relating to the Reverse Acquisition (£0.3m)

Update re Audioboom Investment

RNS


RNS Number : 1706T

7digital Group PLC

01 October 2014






7digital Group plc

("7digital" or the "Company")

Update re Audioboom Investment

7digital (AIM:7DIG), the digital music and radio services company, is pleased to announce that it has sold part of the Company's investment in Audioboom Group plc ("Audioboom") as part of a larger placing of new and existing ordinary shares undertaken by Audioboom ("Audioboom Placing"), raising cash proceeds of £3.5 million for the Company ("the Sale").

The Company is selling 29,029,307 Audioboom shares out of its total of 87,029,307, leaving 7digital holding 58,000,000 Audioboom shares, and 8,765,404 warrants which are exercisable at 1.5p. 7digital's remaining shares in Audioboom are subject to a twelve month orderly market agreement, the restrictions of which can be waived subject to market demand and the permission of Audioboom's brokers.

Following the Sale, and upon admission of the new shares issued as part of the Audioboom Placing, 7digital's shareholding in Audioboom will be 10.91% of the enlarged share capital. If the warrants held by 7digital were exercised, this would take the Company's holding to 11.45% of the enlarged share capital of Audioboom.

7digital acquired its stake in Audioboom though the reverse acquisition with UBC. UBC had invested a total of £1.86 million in Audioboom since its original investment in 2010. The stake sold today was valued at £1.6 million at the time of completion of the reverse acquisition; hence the Sale has resulted in a £1.9 million profit for the Company. At yesterday's closing price, 7digital's remaining stake in Audioboom was valued at £11.7 million.

The cash proceeds of the Sale will be used to strengthen the working capital position of the Company.

Simon Cole, CEO of 7digital, commented:

"We invested in Audioboom at an early stage and have seen the value of our investment grow significantly, with today's sale representing a 467% increase on our initial investment. This placing represented an opportunity to realise some of our investment into Audioboom whilst we still retain a substantial holding and continue to remain a supportive shareholder".

Director Deals - 7digital Group Plc Ord 10p (7DIG)
BFN
Simon Cole, Chief Executive Officer, bought 20,000 shares in the company on the 6th October 2014 at a price of 21.50p. The Director now holds 2,214,544 shares.

Story provided by StockMarketWire.com
Director deals data provided by www.directorsholdings.com

Director Deals - 7digital Group Plc Ord 10p (7DIG)
BFN
Ben Drury, Executive Director, bought 20,000 shares in the company on the 6th October 2014 at a price of 21.50p. The Director now holds 12,786,903 shares.

Story provided by StockMarketWire.com
Director deals data provided by www.directorsholdings.com

Will.i.am to go head to head with Apple over smart watch



Will.i.am and London-based company, 7digital, are believed to have struck deals with major record labels that will see each artist and music group treated equally under the contract. This could give it the edge over other music services, which have experienced problems over the different rates offered to independent music producers and big labels.

http://www.telegraph.co.uk/finance/11156909/Will.i.am-to-go-head-to-head-with-Apple-over-smart-watch.html

Smart move as The Black Eyed Peas frontman Will.i.am launches his music watch

By Jon Rees, Financial Mail on Sunday

Tech entrepreneur and frontman for The Black Eyed Peas, Will.i.am, will launch his smartwatch on Thursday in San Francisco with a music service understood to be supplied by UK firm 7digital.



http://www.dailymail.co.uk/money/news/article-2789265/smart-launches-music-watch.html

Just looked undervalued.

Currently up 40%

Further re Press Speculation

RNS


RNS Number : 1386U

7digital Group PLC

13 October 2014






7digital Group plc

("7digital" or the "Company")

Further re Press Speculation

The Company notes the recent press speculation and confirms it is in discussions with i.am. plus, llc with respect to the delivery of a music service on a new range of devices, including wearables.

The potential contract would further underpin the Company's revenue expectations.

Further updates will be made in due course.

Currently up 67% on the day.

Well done dreamcatcher!

More well done Will.i.am. :-)) cheers d4. crazy + 83%


30 Sep finnCap 38.00 Corporate

Will.i.am to go head to head with Apple over smart watch

Will.I.Am Shows Off His Smart Watch - Alan Carr: Chatty Man

http://www.youtube.com/watch?v=Rj7IfmUbF0M

Been in since 25p and topped up earlier today...should be an interesting couple of days / weeks coming up

Will.i.am launching his smartwatch on Wednesday night in San Francisco .

News soon !!!!!!!!!!!!!!!!

Update on contract with i.am.plus

RNS


RNS Number : 4636U

7digital Group PLC

16 October 2014






7digital Group plc

("7digital" or "the Company")



Update on contract with i.am.plus





Further to the announcement of 13 October 2014, 7digital (AIM:7DIG), the digital music and radio services company, announces that last night in San Francisco, musician and entrepreneur, Will.i.am, demonstrated a new music service developed by 7digital on his wearable "Puls" device.

7digital is pleased to confirm that it has now entered into an agreement with i.am.plus llc for the development of applications and operation of the music service.

The revenue from this service further supports the transition from 7digital's historical downloading business to new revenues from streaming services and underpins the Board's revenue expectations. As such, the Company does not expect that the new agreement will lead to a change in market expectations with respect to the Company's financial performance.





Simon Cole, CEO of 7digital, Commented:

"This is obviously a very exciting time for the company. There is a massive change going on in digital music as new streaming models replace the buy to own downloading model. Many of these, like the service launched last night by will.i.am, will be designed for ease of use on mobile and wearable devices. These services require the technology platform and expertise in both radio and streamed music that 7digital has at its core."



ENDS

16 Oct finnCap 38.00 Corporate

Video: Will.i.am and Zaha Hadid reveal PULS designs

Video / 17 October 14 /



http://www.wired.co.uk/news/archive/2014-10/17/william

Contract wins

RNS


RNS Number : 6229X

7digital Group PLC

21 November 2014










21 November 2014



7digital Group plc

("7digital" or "the Company")



Contract wins



7digital (AIM:7DIG), the digital music and radio services company, announces two new contracts that demonstrate strategic progress in the areas of hi-resolution digital music and streaming radio services.

Panasonic Hi Resolution Music Service

7digital has been appointed by Panasonic to launch a new hi-resolution music service under their iconic Technics audio brand. 'Technics Tracks', a service enabling music lovers to rediscover tracks and albums from an exceptional catalogue of 24-bit hi-resolution audio, will be available in the UK and Germany from January 2015. The service has been custom built for Technics by 7digital with music purchased on the platform stored in a cloud locker ready for download to multiple devices, with customers of Technics audio hardware in mind.

Radioplayer To Launch in Ireland

Also today, the Company is pleased to announce that the Radioplayer technology, which gives listeners easy access to streamed radio services and which 7digital licenses internationally, will be launched in Ireland for mobile devices by early December 2014. Following deals for Radioplayer in the UK, Germany, Belgium and Norway, the Irish radio industry has now agreed to adopt the technology. National broadcaster Raidió Telefís Éireann (RTÉ) and the Independent Broadcasters of Ireland (IBI) have agreed to licence the Radioplayer technology for an initial three year term.

Both contracts involve upfront payments and monthly recurring revenues, which underpin the Company's revenue expectations for the current year.



Simon Cole, CEO of 7digital, commented:

"Today shows great progress in two areas identified as key growth drivers: high quality audio and streamed radio. The 'Technics Tracks' service is an extremely exciting partnership for us. We have identified connectivity in the home as a major opportunity and have invested in our hi-resolution catalogue and capability ahead of this demand. The re-launch of Technics represents a fantastic opportunity to showcase these capabilities in partnership with a visionary audio company and one of the world's leading hi-fidelity brands. At the same time, our new relationship with the Irish radio industry means that more than 650 radio stations will be using Radioplayer as their streaming platform."



Director of Brand Strategy for Panasonic, David Preece said:

"Technics Tracks' will be a vital tool for us to deliver the perfect overall premium audio experience. We understand the uniquely emotionally-engaging experiences that listeners crave for when playing their favorite tracks and see the remarkable revelations that music lovers have when they experience true hi-resolution music delivered by our scintillating new hardware. We're incredibly excited to be driving the growth in hi-resolution music availability. Now we want to make the experience of exploring the highest-quality music formats more engaging and more accessible than ever before."



JP Coakley, Director of Operations, RTÉ Radio said:

"This is a big step forward by our mature industry; bringing simplicity and variety to digital listeners on a strong, robust platform with tons of potential".







ENDS

21 Nov finnCap 38.00 Corporate

Partnership in High Resolution Audio

RNS


RNS Number : 2221A

7digital Group PLC

19 December 2014








19th December 2014



7digital Group plc

("7digital" or "the Company")



Partnership in High Resolution Audio



7digital (AIM:7DIG), the digital music and radio services company, announces a global partnership with British audio pioneer, Meridian Audio ("Meridian"), based around Meridian's recently launched revolutionary new High Resolution sound experience MQA, or Master Quality Authenticated.

Meridian, based near Cambridge, has over 35 years' history of innovation and development of consumer home entertainment systems offering exceptional performance. The award-winning company is widely recognised as a world leader in high-quality audio and video reproduction. Meridian developed the first audiophile CD player, the world's first consumer digital surround controller and the world's first digital loudspeaker.

MQA was launched to an enthusiastic reception from the consumer electronics and music industries on 4 December 2014 in a presentation at London's "Shard".

The partnership, announced today, means that 7digital will adopt MQA and become the first digital music platform provider to offer this high quality audio format for both downloads and streaming. It follows recent announcements of contracts with Panasonic and Onkyo to develop new High Resolution music services.



Simon Cole, CEO of 7digital, commented:

"MQA is a revolutionary new development in the journey towards serving consumers the purest high resolution digital files. MQA, which will be available in early 2015, delivers the quality of original studio recordings so cleverly and efficiently that it can be conveniently streamed or downloaded. We feel extremely privileged to have been involved so closely with the Meridian team right through the R&D stage, lending our own considerable and longstanding experience in high quality digital music services to the process. I truly believe MQA will become the standard for high quality streaming."



Meridian Audio Co-Founder Bob Stuart said:

"MQA is an important development that transforms music listening. MQA brings the listener every nuance and detail and the excitement of the live performance sound. Authenticity is not compromised for convenience. 7digital's commitment to excellence and to sound quality makes them a natural partner for MQA. Their team have been untiring supporters of this revolution and we are excited about the launch of this platform."

Contract Win and Launch Of New Service
RNS
RNS Number : 3454B
7digital Group PLC
06 January 2015





6 January 2015



7digital Group plc

("7digital" or "the Company")



Contract Win and Launch Of New Service



7digital (AIM:7DIG), the digital music and radio services company, announces a new contract to provide the technology platform, content management system and catalogue for a new North American music streaming service which targets Christian music fans.

The "Overflow" app, launched yesterday, offers users access to a catalogue of over 370,000 tracks that are Christian, Gospel or Christian-related sub-genres, in an interactive on-demand subscription service. The Overflow built the app leveraging 7digital's platform as well as its catalogue of music from major and independent labels. 7digital has received setup fees and will earn monthly recurring revenues.

With a comprehensive catalogue of Christian music across all sub-genres, users can select the song they want, or "lean back" and listen to curated playlists from The Overflow or partners like NewReleaseTuesday.com. The Overflow also brings fans closer to the heart of the artist through devotionals from top artists integrated with the YouVersion Bible App (+157M installs). The service allows users to download songs, albums or playlists onto their device with an active subscription. At $4.99 per month, The Overflow represents the first in a new generation of 'micro-subscription' services targeting specific music interest groups at reduced subscription rates.



Simon Cole, CEO of 7digital, commented:

"Innovation around digital music continues to flourish and services that focus on a niche catalogue or are catered to specific audiences have huge potential to convert new digital users. The Christian community is quickly creating a buoyant market for digital services and this is the first streaming music service that caters to their needs. The Overflow knows their audience well and can foster a great discovery experience through smart media partnerships and focused curation."



CEO of The Overflow, Stephen Relph adds:

"We're excited to bring Christian music fans an immersive App that offers them unlimited Christian music anytime, online or offline. We are confident that we can bring Christian music fans closer to their favorite Christian artists and discover new artists with our curated playlists by genre. Using 7digital's API allowed us to focus on getting our product and marketing plan executed without being slowed down by the complex work of content management."









ENDS

.

UPDATE - Sainsbury's signs music deal with 7digital

By Giles Gwinnett

March 24 2015, 12:05pm
Shares in digital music firm 7Digital (LON:7DIG) sang higher Tuesday as it unveiled a new three year contract with UK supermarket giant Sainsbury's (LON:SBRY).
Shares in digital music firm 7Digital (LON:7DIG) sang higher Tuesday as it unveiled a new three year contract with UK supermarket giant Sainsbury's (LON:SBRY).


--adds detail, broker comment--

Supermarket giant Sainsbury’s is revamping its online music offering in a deal with AIM-listed 7digital (LON:7DIG).

The UK grocer, which stopped selling physical CDs on the web last year, has secured access to an online library of 31mln tracks.

7digital will provide the catalogue of digital tunes and power music platform, offered as white-label service with Sainsbury's paying a monthly fee

The platform will bolt onto Sainsbury’s existing online entertainment offering, which already allows users to download music, books and films.

"I am very pleased to be able to announce an important new customer in Sainsbury's,” said Simon Cole, chief executive of 7digital.

“We look forward to working with the business as it develops its online entertainment offering.”

Meanwhile, Cole’s online music-outfit added that its existing deal with Guvera - the streaming service offered on Lenovo tablets and mobiles - had been expanded to cover Europe.

It is currently powered by 7digital in the UAE, Saudi Arabia and India, and Guvera added a further eight emerging markets last summer. Now, 7digital covers 16 territories.

In its final results, sent out today, 7digital reported how 25 contracts had been won valued in aggregate at £3.4mln in in the last 12 months.

These included Guvera, i.am, Spanish Broadcasting System, Inc, The Overflow and ROM Mobile.

The music-outfit's catalogue now contains over 32mln licensed tracks, it highlighted.

Turnover was down 12% to £10.2mln in the year, as the group continued to move away from low margin download stores.

High margin monthly recurring revenues - its new focus - were up 14% to £4.4mln.

The adjusted operating loss was reduced 15% to £3.8mln while cash at the end of the year stood at £5.32mln compared to £1.29mln in 2013.

"These results represent a year in which we successfully created a new company from the merger of UBC Media and 7digital; we have ended it in a position ahead of the predictions we had made during the merger," said Cole.

"Our success and growing customer base is proof of the developing market for streamed music services and the coming together of the radio and music industries as technology and consumer habits change."

Investec sent out a Buy rating on the firm following the results.

"One for the playlist," said the broker. "7digital looks a nice B2B play on the fast growth and disruptive music streaming market."

Shares added 5.61% to 14.125p in early deals.

Director Dealings
RNS
RNS Number : 6327I
7digital Group PLC
27 March 2015

7digital Group plc

("7digital", "the Group" or "the Company")

Director Dealings

7digital (AIM:7DIG), the digital music and radio services company, announces that it has been notified that Sir Donald Cruickshank, Non-Executive Chairman of the Company, purchased 50,000 ordinary shares of 10 pence in the capital of the Company ("Ordinary Shares") at a price of 15 pence per Ordinary Share on 26 March 2015.

Following this purchase, Mr Cruickshank now holds 150,000 Ordinary Shares, representing approximately 0.14 per cent. of the total voting rights of the Company.

Director Deals - (7DIG)
BFN
Sir Donald Cruickshank, Chairman, bought 140,000 shares in the company on the 27th March 2015 at a price of 17.46p. The Director now holds 290,000 shares.

Bought a few today - along with almost the entire world, his wife and his dog as well. Missed 7p while I was prevaricating, so had to pay out 7.25p.