7digital Group PLC Triller contract win
17 August 2018 - 5:54PM
RNS Non-Regulatory
TIDM7DIG
7digital Group PLC
17 August 2018
17th August 2018
7digital Group plc
("7digital" or the "Company")
Announcement of Triller contract win
7digital Group plc (AIM: 7DIG), the global leader in B2B digital
music solutions, is pleased to announce it has signed a contract
with Triller, an AI-powered music video platform, to provide access
to music (preview clips) and manage label reporting. The Triller
platform currently has over 29 million users, across 14 countries
and five continents. The agreement covers an initial 18-month
period and will contribute to 7digital revenues in 2018 and
beyond.
Simon Cole, CEO of 7digital, commented:
"We are delighted to be announcing this deal with Triller.
7digital is expert at providing access to music for innovative
platforms of this type, having previously partnered in 2016 with
musical.ly, another fast-growing social media platform based around
video and music with a strong international footprint. Triller's
product represents one of the ways in which audiences now consume
and share content online, creating a new revenue stream within
digital music and significant potential for growth."
Mike Lu, CEO of Triller, commented:
"This relationship between Triller and 7digital gives video
content creators and Triller influencers even greater opportunity
to share their talents and make their mark on the social media
world using the latest chart-topping hits. 7digital's prominent
presence in countries outside of the U.S. will help to further
increase Triller's global footprint."
Last month, Triller announced a new monetization model that
helps influencers raise money from fans, brands and music labels
for purpose-driven goals.
Triller raised a $4.5 million seed round in May 2016 and a $5
million Series A funding round in February 2018, with plans to
expand its AI technology and develop the brand as a talent
discovery platform.
For further information please contact:
7digital 020 7099 7777
Simon Cole, Chief Executive
David Holmwood, interim Chief Financial
Officer
Holly Ashmore, PR Manager
Arden Partners (nominated adviser, broker) 020 7614 5900
Chris Hardie/Ruari McGirr/Benjamin Cryer
- Corporate Finance
About 7digital
7digital is the global leader in B2B end-to-end digital music
solutions. The core of its business is the provision of robust and
scalable technical infrastructure and extensive global music rights
used to create music streaming and radio services for a diverse
range of customers - including consumer brands, mobile carriers,
broadcasters, automotive systems, record labels and retailers.
7digital also offers radio production and music curation services,
editorial strategy and content management expertise.
7digital fosters industry growth and innovation by simplifying
access to music for clients such as Onkyo, Global Radio and
musical.ly. From years of being the largest independent producer of
programming for the BBC and powering services for partners like
Panasonic, TDC and Electric Jukebox, 7digital is perfectly
positioned to lead innovation at the intersection of digital music
and next-generation radio services.
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END
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