By Adria Calatayud

 

Shares in 7Digital Group PLC rose Thursday after the company said it has signed a contract to provide licensed music to Chinese short-video and live-streaming platform Kuaishou Technology.

The U.K. provider of digital-music services said the contract, with an expected term of 24 months, strengthens its revenue visibility as it includes a set-up fee, a monthly recurring access fee and a usage fee. No financial details were disclosed.

Shares in 7Digital at 0827 GMT were up 29% at 1.65 pence.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

March 11, 2021 03:46 ET (08:46 GMT)

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