7digital Group PLC 7digital wins new contract with Apex Rides
September 08 2020 - 1:00AM
RNS Non-Regulatory
TIDM7DIG
7digital Group PLC
08 September 2020
RNS Reach
8 September 2020
7digital Group plc
("7digital" or "the Company")
7digital wins new contract with Apex Rides
7digital enters home fitness space with out-of-the-box solution
to support music-based virtual fitness service
7digital (AIM: 7DIG), the global leader in B2B end-to-end
digital music solutions, is pleased to announce that it has signed
an initial 12-month contract with Apex Rides Limited ("Apex"), a
cutting-edge high performance smart bike and in-home fitness
platform, to service music for its virtual exercise classes.
In exclusive partnership with London-based boutique fitness
pioneer Boom Cycle, new-to-market Apex provides a full home
exercise connected bike and subscription service with live and
on-demand interactive classes. With hardware pricing at a fraction
of the leading market competitors and premium class content planned
to attract and retain customers, Apex's solution is designed as an
accessible alternative for the mainstream market.
Apex is using 7digital's in-house licensing services to
negotiate and finalise rights to millions of premium tracks.
Through 7digital's catalogue and playlisting tool, instructors will
have access to fully cleared and compliant music for programming
their classes, making it easy to create custom playlists curated by
genre, tempo or music theme in line with the emotional connection
and spirit of each class. In addition to playlisting and catalogue
curation, 7digital will also provide the backend label and
publishing reporting.
Paul Langworthy, CEO of 7digital, said: "We are delighted to be
partnering with Apex Rides, which has music at the core of its
virtual cycling experience, to help drive further growth into the
exciting home fitness space. A core pillar of our business strategy
centres on the flexibility of our technology, products and services
to not only serve established markets but also new and emerging
verticals that will create diversified music streaming business
models. As this sector heats up, we are proud to provide the
end-to-end services that can support innovators such as Apex Rides
to forge new frontiers in the fitness market with new formats for
music licensing use cases."
Commenting on the agreement, Simon Cook, co-founder of Apex,
said: "We recognised from the start that music is an essential and
powerful ingredient in the context of fitness and wellness, and we
needed to make sure our instructors had the tools to give members
the best overall user experience. Boom Cycle's innovative
instructors know how to use music to create specific moods, and
bring energy and community to the experience, while 7digital's
technology makes it easy maximise the full potential of our
licensing agreements."
Charlie Lucas, co-founder of Apex continued : "Collaborating
with 7digital's experienced licensing team, in-tune and in-step
with the music rights holders, will deliver us a world-class
collection of licensed music at launch, while ensuring that concise
and accurate royalty reporting is fully covered. In addition, their
proprietary digital playlist tool makes it simple for our partner
fitness leaders to use music to create unique narratives and
experiences that will keep people challenged, motivated and engaged
with our programme."
Enquiries
7digital 020 7099 7777
Paul Langworthy, CEO
Arden Partners (Nominated Adviser and Broker) 020 7614 5900
Richard Johnson, Benjamin Cryer
Luther Pendragon (Financial PR) 020 7618 9100
Harry Chathli, Joe Quinlan, Elliot Fradd
About 7digital ( www.7digital.com/ )
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. From years of being the largest
independent producer of programming for the BBC and powering
services for partners like Soundtrack Your Brand, Global Eagle,
Grandpad and Fender, 7digital is perfectly positioned to lead
innovation at the intersection of digital music and next-generation
radio services.
About Apex Rides Limited
Apex is the newest and most inclusive at-home exercise bike to
hit the UK market. With a uniquely fresh and ergonomic design,
state-of-the-art technology and gamified software, it is the only
premium product of its type with an accessible price point. Apex is
partnered with renowned London spin studio Boom Cycle to create
exclusive live and on-demand classes, available on an affordable
subscription basis. The bike is compact and comes in four colours,
and uses Bluetooth technology to connect to the user's iPad or
iPhone, where they can stream and take part in Apex classes.
Real-time interactive leader boards measure RPM and resistance, and
reward each rider with Apex points. The Apex bike is available to
buy at www.apexrides.com and will be stocked on www.johnlewis.com
.
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