7digital has signed a streaming contract worth €2.2m over a three-year period.
While the b2b digital music provider has not disclosed the partner, it is an existing B2B music streaming service customer.
7digital has been providing services to the client since 2016, with contract renewals on an annual basis. This latest contract expands the relationship to a long-term agreement, providing greater visibility over revenue.
The company also expects the value of the contract to increase as the customer seeks to expand its brand into further territories, which would require further licence agreements with 7digital.
Under the terms of the contract, the client will use 7digital’s extensive music catalogue to provide on-demand streaming services for brands and businesses as well as playlisting curation capability using fully licensed music.
Paul Langworthy, CEO of 7digital, said:“We are delighted to have secured this contract renewal on improved terms, including being expanded to a three-year period. We pride ourselves on offering a great quality service and platform, and our success in doing so is reflected in the customer’s commitment to a long-term agreement. This enhances our visibility over revenue and will contribute to our growth. The scope for the contract to increase alongside our customer’s growth plans is also hugely exciting. We look forward to continuing this relationship and enabling the customer to provide a great streaming service.”