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Jazz streaming deal boosts 7digital shares

By Josh White

Date: Wednesday 12 Feb 2020

Jazz streaming deal boosts 7digital shares

(Sharecast News) - Digital music company 7digital Group announced on Wednesday that its music platform-as-a-service would power 'jazzed', which it described as the market's first dedicated audio-visual streaming service for jazz and jazz-influenced music.
The AIM-traded firm described jazzed as a multi-tier jazz streaming subscription service, which had been developed by new digital media platform creator ETA Productions.

Launched on Wednesday, it reportedly offered a "highly curated" music, video and editorial experience for the jazz fan, featuring more than five million tracks and unique individual channels.

Under the terms of the initial 12 month contract, which included set-up, monthly and usage-based content fees, jazzed would use 7digital's API and platform access, playlist tools, reporting services and catalogue management.

That would allow jazzed users to stream music from 7digital's "extensive" catalogue of jazz tracks.

Explaining the product, 7digital said jazzed offered an ad-funded "freemium" version with 10 hand-curated audio channels and a selection of video content, and a ?5.99 monthly subscription-based tier with more than 40 channels and exclusive video content.

A premium subscription tier featuring on-demand access to more than five million music tracks in high-definition lossless audio was planned for later in the year.

The service would be available both on mobile and desktop platforms.

"The way people engage with music is changing rapidly. In order to capture the significant future growth in the streaming market, the all-you-can-eat subscription model will be supplemented by more targeted, premium services," said 7digital chief executive officer Paul Langworthy.

"Jazzed is a perfect example of how 7digital makes it possible for these services to create new compelling music experiences for underserved audiences."

Langworthy said it was a "testament to the versatility" of the company's technology and the breadth of its music catalogue, which was enabling 7digital to power "the next generation" of streaming services.

"We are incredibly excited to be working with the jazzed team on their fantastic new music product."

Frank Taubert, chief operating officer and co-founder of jazzed, added that the service was "going to change perceptions" around jazz, as the first audio-visual streaming subscription service focusing on the genre.

"Jazzed is marrying the innovativeness of the genre with an innovative digital experience.

"Being able to rely on 7digital to manage the back-end technical infrastructure and having access to their extensive music catalogue allows us to focus on making the service itself something exciting for jazz fans old and new."

At 1508 GMT, shares in 7digital Group were up 7.32% at 0.44p.

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