Music publishers talk innovation: ‘When there’s a will, there’s always a way’

We hear a lot about the new revenue streams that labels are hunting down in social, gaming, fitness and other areas The post Music publishers talk innovation: ‘When there’s a will, there’s always a way’ appeared first on Music Ally. Source: Music ally

Apex Rides hopes to take on Peloton, and it’s licensing music

Where there’s a startup that’s gone public in a big IPO, there’ll be fledgling rivals hoping to follow the same path and compete with it. Such is the case with fitness firm Peloton. One of its latest rivals is called Apex Rides, with its own combination of a physical exercise bike, and digital workout classes available […]

B2B music firm 7digital raises £6m in new funding

It’s not that long since B2B digital music company 7digital was having serious financial troubles, but it’s been working hard to survive. By January 2020 the company said it had “stabilised itself”, before borrowing £500k in March to use as working capital over the following year. It’s also been announcing new business, including deals with […]

eMusic gets into livestreaming with eMusicLive launch

The last time we checked in on eMusic, it had just launched its eMU token as part of a blockchain drive, while its boss had joined the board of B2B firm 7digital. A few months on, the two companies are hopping aboard the livestreaming bandwagon. eMusic is launching a platform called eMusicLive, which it says […]

7digital’s CEO and CFO step down in new effort to cut costs

B2B digital-music firm 7digital is still trying to dig itself out of a financial hole, with the latest news being that its CEO and CFO are stepping down. John Aalbers and Julia Hubbard will be sticking around for a few months to assist their successors though: current COO Paul Langworthy will be the new CEO, while […]

eMusic boss joins 7digital board and reiterates blockchain ambitions

As expected, B2B digital-music firm 7digital has appointed eMusic boss Tamir Koch to its board of directors, alongside entrepreneur David Lazarus. The move comes as the company tries to raise funding to stave off the threat of administration at the end of July. Koch will be the non-executive chair of 7digital’s board, and has reiterated his ambitions […]

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 […]

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