7digital has won a two-year contract with Singapore-based Lomotif, the global social video-sharing app.
The B2B company’s music-as-a-service platform will provide licensed repertoire used in the Lomotif app globally.
Lomotif is a short-form, video-sharing networking platform with editing and curation tools designed to encourage creativity and collaboration.
Lomotif is majority-owned by ZVV Media Partners, a joint venture of Zash Global Media and Entertainment Corporation and Vinco Ventures. It has a global presence from Asia to Latin America, and West Africa to the US.
The initial contract will cover licensed major label content in the app’s current territories, and will accommodate expansion in content from newly licensed labels as well as usage.
Lomotif will stream licensed music and clips directly from 7digital’s music-as-a-service platform to their end users. The platform will automatically filter for label clearances so that the app will access only their fully licensed catalogue.
Lomotif will also utilise 7digital’s full-service back-end label and publisher reporting solutions.
Paul Langworthy, CEO of 7digital, said: “As a leader in end-to-end music solutions, 7digital has supported some of the biggest social media companies in the industry throughout their tremendous growth, and it's great to add another rising social media platform to the roster. This contract also reflects the increasing transitioning of our pricing model to align revenue with usage that expands as the customer grows.
“We are at an exciting inflection point where our deal momentum is providing significant improvement in revenues and each new contract adds to our growing base of recurring licence fees, with contracted licensing revenue for 2022 already surpassing 2021 levels by 21%. We're thrilled to support Lomotif as they build one of the largest short-form video platforms in the world.”