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7digital Teams With Muzooka to Add Artist Assets to Music Data
LONDON--(BUSINESS WIRE)-- 7digital, (AIM:7DIG) the global leader in end-to-end digital music solutions, today announced a new partnership with Muzooka, the world's largest verified artist asset database, where content delivered via 7digital’s music-as-a-service platform is now pre-mapped with Muzooka’s pre-approved database of artist images, links, and other media assets, allowing brands to deliver a highly visual experience to their users via a simplified integration. Muzooka provides a central hub to more than two million musical acts and comedians where record labels and managers control t...
7Digital Group: 2 directors
Two Directors at 7Digital Group bought/maiden bought 2,500,000 shares at between 0.013USD and 0.013USD. The significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's dir...
- Fiona Orford-Williams
7digital Group - Broadening the base
7digital’s interims show good progress in developing its B2B offering, with revenues up by 52% on H117 (including acquisitions). This reflects strong demand from brands for music as an adjunct to other products and services, as a differentiator and in order to improve brand loyalty. With an expanding portfolio of commercial content and the brand relationships, 7digital is well placed to exploit its independence and build a sizeable business. With management reiterating its expectations of the ...
- Fiona Orford-Williams
7digital Group - Ready to rock ’n' roll
7digtal has now reported its FY17 results, which show a strong uplift in revenues, reflecting the 24-7 acquisition, and a greatly reduced EBITDA loss. The publication of the results was delayed in order to conduct a thorough review by new auditors, resulting in a significant strengthening in reporting procedures and systems, and a restatement of historical figures. The rapidly shifting streaming market gives the group significant B2B opportunities, with music a key element of customer engagement...
7digital Group - Juke relaunched on 7digital platform
Trading for 2018 appears to have started on a solid footing, with Q118 licencing revenues double the prior year and, importantly, the re-launch of the Juke service on the 7digital platform in key territories in Q2. We plan to review our forecasts at the time of the full-year results at the end of June.
7digital Group - Proposed GBP8.5m fund-raise
7digital is proposing to raise £8.5m (before expenses) through the issue of up to 212.5m new shares at a price of 4p, a 22% discount to close on 30 November. £8m of this has already been placed or subscribed, with £0.5m available via an open offer. The shares will be admitted to AIM on 19 December, subject to shareholder approval.
- H2 step increase in revenues underpinned
H1 results reflect the progress 7digital Group has made over the last year and the initial impact of the transformative 24-7 acquisition, with exit monthly recurring revenues (MRR) up 113%. The step change in revenues forecast in H2 looks underpinned and the integration of 24-7 has started, key to moving to positive cash flow in H218 – a target reiterated by management. We expect this to trigger a re-rating of the shares, which trade on 4.1x FY18e EBITDA, a fraction of its B2B video streaming pe...
A good start to the year
7digital’s recent trading update confirmed good progress. H117 revenues increased 13%, with a strong performance from high-margin licence and creative sales. Momentum in monthly recurring revenues and new contract wins, as well as the full impact of the 24-7 acquisition put the group on track for an even stronger second half and add to our confidence in the deliverability of targeted EBITDA profitability in 2018. Given the progress being made, the 3.0x FY18 EBITDA rating looks extremely attracti...
Stand and deliver
7digital is a leading provider of turnkey solutions that enable businesses to offer digital music services to their customers. It has made significant strategic progress over the last year, culminating in the acquisition of its largest European competitor, 24-7, which adds £18m of secured revenues over three years and synergy potential. We believe it is well placed to benefit from the evolution in the market for music streaming and forecast profitability from FY18; the shares look extremely attr...
Stand and deliver
7digital is a leading provider of turnkey solutions that enable businesses to offer digital music services to their customers. It has made significant strategic progress over the last year, culminating in the acquisition of its largest European competitor, 24-7, which adds £18m of secured revenues over three years and synergy potential. We believe it is well placed to benefit from the evolution in the market for music streaming and forecast profitability from FY18; the shares look extremely attr...
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.
Potential acquisition of 24-7 and share placing
FY16 results were in line and with £8m of contract wins during the year, 7digital looks on track to deliver its targeted FY17 EBITDA profitability. The proposed acquisition of its last significant competitor, 24-7, would add scale, synergy potential and cements its position as the leading provider of platform services to the rapidly evolving digital music industry.
EBITDA break-even reached, positive outlook
7digital’s FY16 revenues increased 7% y-o-y and EBITDA profitability was reached, as targeted, in Q4. New contract wins in FY16 set the stage for a stronger top-line performance in FY17 and we consider management’s reiterated target of operating profitability in FY17 as realistic. For an operationally geared growth company in its first year of profitability, the FY17e EV/EBITDA of c 12x looks attractive.
EBITDA break-even reached, positive outlook
7digital’s FY16 revenues increased 7% y-o-y and EBITDA profitability was reached, as targeted, in Q4. New contract wins in FY16 set the stage for a stronger top-line performance in FY17 and we consider management’s reiterated target of operating profitability in FY17 as realistic. For an operationally geared growth company in its first year of profitability, the FY17e EV/EBITDA of c 12x looks attractive.
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
EBITDA break-even in sight
H1 results were affected by the write-down of a large receivable and a slow Q1. However, momentum accelerated in Q2, there is a healthy sales pipeline and, with £1m cost savings identified, 7digital is on track to turn EBITDA positive from H216. Continued growth in monthly recurring revenue (MRR) should become more visible in H216 and reaching EBITDA break-even could provide the necessary catalyst for a re-rating.
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