7digital financials shed more light on company’s position

B2B digital-music firm 7digital has published its financial results for 2018, although it’s events since the end of last year that have put the company in its current worrying position. So, 7digital’s group revenues grew by 19% in 2018 to £19.9m (around $24.8m) but its net losses grew from £4.8m to £11.9m. However, the financials also […]

7digital needs £4.5m by the end of July to avoid administration

There’s a stark warning delivered within the latest financial filing for B2B digital-music company 7digital. “The Company currently believe that it still needs to raise Additional Funds of at least £4.5 million by 31 July 2019, failing which it is highly likely that the Company would need to be placed into administration.” This follows the investment of […]

7digital must raise more equity to “continue as a going concern”

A business update posted on Polaris/Brighter IR, the investor relations site,  and dated 9th April says that the loss of MediaMarktSaturn as a customer has put the future of 7digital in serious doubt and that it will have to urgently raise new capital in order to keep going. “[T]he Board’s current view is that the […]

7digital gets a new CEO as Simon Cole steps down

B2B digital-music firm 7digital is to get a new leader, after CEO Simon Cole announced plans to step down. His replacement will be John Aalbers, the former boss of Arts Alliance Media. Aalbers will replace Cole on 1 April, and will also join 7digital’s board. Cole said that today’s news is a planned transition, albeit […]

7digital reaches €4m settlement over Juke music service

There has been some uncertainty around the relationship between B2B digital-music firm 7digital and retail group MediaMarktSaturn in recent months. In January it emerged that the companies were in talks over the future of MediaMarktSaturn’s Juke music service, which 7digital powers. Now that’s been settled. “Under the Agreement, 7digital has accepted settlement of, and release […]

MediaMarktSaturn mulls future for its Juke music-streaming service

B2B digital-music service 7digital published an update on its business on Friday, with three separate pieces of news. Among them, the news that 7digital is in talks with European retailer MediaMarktSaturn about the future of its Juke music-streaming service, which 7digital powers. “MMS has indicated that it may wish to change the current arrangements and this […]

Aller à la barre d’outils