7digital Group PLC HDmusicStream hi-res streaming service
June 05 2017 - 1:00AM
RNS Non-Regulatory
TIDM7DIG
7digital Group PLC
05 June 2017
RNS Reach
05 June 2017
7digital Group plc
("7digital" or "the Company")
HDmusicStream hi-res streaming service
7digital (AIM:7DIG), the global leader in end-to-end digital
music solutions, confirms that it will power a forthcoming high
resolution streaming service from the founders of HDtracks. The
HDmusicStream service will use MQA technology to deliver studio
quality music, while 7digital will handle app development, host the
music catalogue on its platform and deliver tracks to
consumers.
Recent announcements by Sony Music Group and Merlin confirm that
MQA has secured major and independent label support for its
technology. Along with Warner Music Group and Universal, who
previously revealed partnerships with MQA, those labels will make
their music catalogues and new releases available in the hi-res MQA
format.
The HDmusicStream service is expected to launch in H2 2017.
7digital's Deputy CEO, Pete Downton, will be appearing at music
industry conference Midem in Cannes this week (Tues 6(th) June)
discussing the next wave in subscription music with representatives
from DEG (Digital Entertainment Group), Universal Music Group and
Sony Music Entertainment, MQA and Qobuz.
7digital previously announced this contract on an un-named basis
within its interim results statement for the six months to 30 June
2016, published on 19 September 2016.
Pete Downton, Deputy CEO of 7digital, said:
"We are excited today to be able to confirm our relationship
with HDtracks. The Grammy Award-winning label Chesky Records - from
HDtracks founders David and Norman Chesky - has, for many years,
set the highest standards in high resolution audio. Their pursuit
of excellence will soon be available to audiophile music fans in a
streaming service for the first time".
Enquiries:
7digital Group 020 7099 7777
Simon Cole, Chief Executive
Matt Honey, Chief Financial Officer
Pete Downton, Deputy CEO
Holly Ashmore, PR Manager
finnCap (nominated adviser and broker) 020 7220 0500
Geoff Nash / Carl Holmes - Corporate Finance
Malar Velaigam / Mia Gardner - Corporate
Broking
Weber Shandwick (financial PR agency)
Nick Oborne - NOborne@webershandwick.com
Tom Jenkins - TJenkins@ webershandwick.com
About 7digital (http://about.7digital.com) 020 7067 0000
7digital is the global leader in 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, launching Radioplayer in multiple
territories, and powering services for partners like HMV, Electric
Jukebox and Panasonic, 7digital is perfectly positioned to lead
innovation at the intersection of digital music and next-generation
radio services.
This information is provided by RNS
The company news service from the London Stock Exchange
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