October 01, 2016 6:43 AM ET

Media

Company Overview of 7Digital Group PLC

Company Overview

7digital Group plc operates as a B2B digital music and radio services company in the United Kingdom, rest of Europe, and internationally. The company operates through three divisions: Content, Licensing, and Creative. Its Content division is involved in the sales of digital music. The company’s Creative division creates audio and video programming for broadcasters; receives commissions from BBC's national radio network and commercial radio stations, as well as other broadcasters, such as Sky Television; and distributes entertainment news content to approximately 150 commercial radio stations. Its licensing business engages in the creation of software solutions for managing and delivering dig...

69 Wilson Street

London,  EC2A 2BB

United Kingdom

Founded in 2004

127 Employees

Phone:

44 20 7099 7777

Key Executives for 7Digital Group PLC

Chief Executive Officer and Director
Age: 58
Total Annual Compensation: 161.0K GBP
Deputy Chief Executive Officer
Age: 45
Total Annual Compensation: 70.0K GBP
Compensation as of Fiscal Year 2015.

7Digital Group PLC Key Developments

7Digital Group PLC Signs Contract with grandPad

7Digital Group PLC announce it has signed a contract with grandPad. 7digital will power a music service which comes pre-loaded onto grandPad's simple and secure tablet device designed for older seniors.

7Digital Group PLC Announces Unaudited Consolidated Earnings Results for Six Months Ended June 30, 2016

7Digital Group PLC announced unaudited consolidated earnings results for six months ended June 30, 2016. For the period, the company reported revenue of £5,247,000, operating loss of £3,375,000, loss before tax of £3,370,000, loss from operations attributable to owners of the parent company of £3,416,000 or 2.87 pence per basic and diluted share, net cash used in operating activities of £639,000, purchase of property, plant and equipment of £28,000 compared to the revenue of £5,153,000, operating loss of £1,841,000, loss before tax of £6,587,000, loss from operations attributable to owners of the parent company of £6,597,000 or 6.13 pence per basic and diluted share, net cash used in operating activities of £2,308,000, purchase of property, plant and equipment of £310,000 for the same period a year ago respectively. Adjusted LBITDA was £2,824,000 against £1,321,000 a year ago. Adjusted operating loss was £3,274,000 against £1,681,000 a year ago.

7Digital Announces Trading Update for the Half-Year Ended June 30, 2016; Wins Contracts

7digital announced trading update for the half-year ended June 30, 2016. For the period, the company's total monthly recurring revenues for the first half rose by 4% against the comparative period last year. Improving sales momentum during the period saw the annualized exit MRR for the period rise by 10% and licensing revenues in June rose by 17% compared with 2015. Due to termination payments from the legacy BlackBerry contract being included in the prior period and the planned reduction in low margin content revenues, overall turnover was broadly unchanged at approximately £5 million. The company also announced that it has in the second quarter been awarded contracts with a combined value of approximately £1.1 million, including set up fees and monthly recurring revenues, with growth coming both from new customer wins and from existing or prior customers to whom the company is providing additional services. The company has reached an agreement with Cdiscount to launch a new music service in the coming months. C discount enjoys a 34.4% total share of e-commerce in France. The first contract using MQA, the high resolution audio technology. The Company has been contracted to develop desktop and mobile applications and handle rights holder reporting, end user management and payment processing for a customer which will launch an MQA service later this year. High resolution audio was identified by the Company a year ago as an important growth segment within digital music and today's announcement builds upon the company's early implementation of MQA download stores, in January 2016.

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