Back to previous section

7digital signs contracts with new and existing customers

Digital music solutions firm 7digital said on Monday that it had signed contracts with new and existing customers worth a total of £1.0m over the term of the contracts.

  • 7Digital Group
  • 30 March 2023 17:19:42
7digital

Source: Sharecast

7digital, which has secured over £700,000 of contracts within the last month, stated it had won three new clients and secured four contract expansions and extensions, including ones within its key markets of music streaming and home fitness.

The AIM-listed firm said its three new customers had been secured on long-term contracts, all of which had an initial term of 24 months, while the four contract extensions included the expansion of contract periods as well as the provision of additional services.

7digital highlighted that the majority of the contracts' total value was set to be recognised in 2022.

Chief executive Paul Langworthy said: "These new and renewed contracts reflect the continued growth in demand for our music services including in our target segment of home fitness.

"It is also pleasing that we are receiving more-and-more long-term contracts, which enhances our visibility over future revenues. With our new financing in place, we continue to strengthen our fundamentals and look to the future with confidence."

As of 1050 BST, 7digital shares were down 1.90% at 0.52p.

N/A

Isin: N/A
Exchange: N/A
Sell:
N/A
Buy:
N/A
Change:
Date:
Prices delayed by at least 15 minutes

Compare our accounts

Whether you're looking for a Share Dealing Account or Share Dealing ISA, we've got an account to suit your needs.

View our accounts

Lloyds Bank is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.

Important legal information

The Lloyds Bank Direct Investments Service is operated by Halifax Share Dealing Limited. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Registered in England and Wales no. 3195646. Halifax Share Dealing Limited is authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

Logo Allfunds

The information contained within this website is provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd unless otherwise stated. The information is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation. This is a solution powered by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd incorporating their prices, data news, charts, fundamentals and investor tools on this site. Terms and conditions apply. Prices and trades are provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd and are delayed by at least 15 minutes.

FE fundinfo Logo

Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

Refinitiv Logo

© 2024 Refinitiv, an LSEG business. All rights reserved.