7digital
7digital Group PLC is a British publicly listed company that offers access to music, tracking and reporting for clients. London-based, 7digital provides end-to-end music services for the fitness, social media, DSPs, and gaming industries with brands such as Barry's and Triller.[2][3] Advertising Age described 7digital (Zdigital in Australia) in 2008 as a British download store,[4] while the New York Times referred to them as a digital music company.[5][6] 7digital's Smooth Operations, Unique Production and Above the Title companies are now branded 7digital Creative, and produce content for BBC Radio 1, Radio 1Xtra, BBC Radio 2 and BBC Radio 3. In 2009 HMV bought 50% of 7digital.[7] In 2019, the company replaced their second CEO,[1] Simon Cole,[8] who had replaced founder/CEO Ben Drury.[5] In February 2023, it was announced 7digital had been acquired by the Santa Monica-headquartered B2B music licensing company, Songtradr.[9]
Company type
B2B Music Technology Services
January 2004
5
20 countries (August 2023)
Paul Langworthy (CEO)
Michael Juskiewicz (CFO)
Samantha Sawyer (CCO)
Jon Hilbrants (CCO)[1]
White-label music solutions, API, music download stores, production, streaming music services, radio services, voucher promotions, loyalty schemes
EUR 6.69 million (2021)
70
Entertainment News, Unique The Production Company, Smooth Operations, Unique Interactive, Above The Title
History[edit]
2004–2009[edit]
7digital was founded in 2004 by Ben Drury and James Kane[10] as a B2B digital music services company, building music download stores for record labels, brands and other retailers. 7digital Direct to Consumer (D2C) service was launched in 2005.
7digital is backed by technology venture capital firm Balderton Capital (formerly Benchmark Capital Europe).
On 28 January 2008, 7digital raised £4.25m in its series B investor round, securing investment from various groups including Sutton Place Managers. The investment was to be used to launch 7digital.com in more European countries and the United States,[11] along with expanding the sites offerings to include downloadable video and computer games.[12]
In September 2008, 7digital.com was the first company in Europe to launch DRM-free MP3 downloads with all four major record labels.[13]
As of October 2008, 7digital employed 45 people in London and had over 1.3 million registered customers.[14]
On 3 August 2009, HMV bought a 50% holding in 7digital from its venture capital owners.[15]
2010-2019[edit]
In 2011, 7digital expanded with an office in Luxembourg and in early 2012, they expanded to the US with an office in San Francisco, CA.[16]
In October 2012, 7digital secured $10 million in funding from two new investors,[17] Dolby and Imagination Technologies.[18] HMV's stake was previously reduced to less than 20%,[19] and following HMV entering into administration, retail restructuring specialists Hilco, are now the holders of these shares.
On 25 November 2013, UBC Media announced merger plans with 7digital by way of a reverse takeover.[20][21] The merger was completed in May 2014, forming 7digital Group Plc.[22]
The company entered a business relationship with MediaMarktSaturn in 2017, which it ended in 2019, in exchange for a cash payment of €4 million. The end of the partnership led to a need for 7digital to raise capital by the third quarter of 2019 to remain operational. The share price fell in response to these developments, with a loss of 63% on 9 April and further losses on 10 April 2019.[23]