A step change with 24-7 deal
7digital’s acquisition of 24-7 consolidates its position as the largest provider of B2B music services in Europe and adds £18m of secured revenues to its pipeline. Accelerated platform integration means EBITDA profitability will be pushed out to FY18, when management expects the deal to be significantly earnings enhancing and the group to be both profitable and cash flow positive.7Digital Group has three divisions: Content, Licensing and Creative. The Content division includes the sales of digital music downloads by Co. direct to consumers, and one off projects from record labels. Licensing is the core of Co.'s business, providing the platform and rights management personnel through which its business-to-business customers can create their own streamed music services, either standalone or bundled into their device or product offering. Co.'s Creative division is engaged in the creation of audio and video programming for broadcasters, receiving commissions from BBC's national radio networks, commercial radio stations and other broadcasters such as Sky Television.
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