7digital secures two-year contract with music and data platform

Digital music solutions provider 7digital has inked a two-year contract with a new music and data platform designed to better meet the monetisation needs of the rightsholder community.

7digital said on Thursday that its new customer will use the company's music-as-a-service platform in the US and Canada to feed music to its B2B content platform, with the unnamed customer expecting to launch the service later in the year.

Chief executive Paul Langworthy said: "This multi-year contract is a further great win for 7digital which will contribute to our growth. It is exciting to bring in a new customer from a very strong pipeline of new business and work with them to build their service offering, which is further proof that demand for music in all its forms has never been stronger.

"We look forward to our long-term relationship and supporting the growth of their offering."

As of 1015 GMT, 7digital shares had shot up 11.67% to 0.34p.