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Business News (more headlines) 01-06-2014

7digital Partnerships, Platform Growth And Funding Announced

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7digital confirms new B2B partnerships with HMV and Pure. New funding from UBC Media Group received to support further expansion of 7digital's streaming and radio services platform. New stats show an increase of 225% in traffic to the growing platform.

London, UK, 25 November 2013. 7digital, the leading open digital music platform, today announced new partnerships, platform growth and funding from UBC Media Group plc as well entering into reverse takeover discussions with UBC to form a global leader in digital music, audio and radio services.

Today 7digital confirmed that they are the power behind HMV's new digital music services across mobile and web in the UK and Ireland, with plans to support their rapid expansion into new territories in the near future. This month 7digital also helped launch an unlimited music streaming service in the US for Pure in conjunction with their award-winning Jongo multi-room wireless speaker range.

In order to power new global streaming and download services such as these, 7digital's platform has undergone substantial investment in infrastructure, capacity and network optimisation. Traffic to the global platform has increased over 225% in the last six months to over 1 billion requests a month.

Ben Drury, CEO of 7digital comments, "Our platform and partnership roster has been growing steadily over time and we see continued interest in music globally, across online radio, subscription streaming, and downloads. We will continue to develop and scale the platform, and to innovate with new products and features. Radio, in particular, is an area where we see a lot of future opportunities, and we are thrilled that our new strategic investor and partner, UBC, shares this vision."

"I'm very happy that we are able to help 7digital's impressive expansion and that we have agreed to try and make our two companies one. The union of content and technology skills created by the potential merger of UBC and 7digital, would create a company with genuine global scale. The combined strengths give access to both the customers and content needed to drive business in the digital age." Simon Cole, CEO, UBC Media Group plc

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