Business-to-business digital music firm 7digital has announced its latest contract wins, and all three of them are for the same, sizeable client.
The British company has “entered into agreements with Universal Music Group to provide partner services across three of UMG’s separate digital music products” according to its announcement to the financial markets this morning. “The global agreements each cover a multi-year term and will contribute to 7digital revenues in 2018 and beyond.”
The announcement did not give much detail on what these three ‘digital music products’ are, although the accompanying quote from CEO Simon Cole suggests that D2C is very much the focus. “Each contract focuses on UMG initiatives that enable deeper engagement between artists and their fans, and leverage a range of revenue streams within digital music,” said Cole. Watch this space for more news, as it comes, on what these initiatives are, and which UMG artists are first to benefit from them.
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