7digital has announced a new deal with Universal Music which will see it provide services to three of the major’s own digital music initiatives. According to reports, the plan is to build bespoke streaming products based around individual artists.
Although there are few details about the specifics of those projects, 7digital CEO Simon Cole confirmed the new deal to his investors yesterday.
He said in a statement: “We are delighted to be announcing agreements with the world leader in music-based entertainment, Universal Music Group, since each contract focuses on UMG initiatives that enable deeper engagement between artists and their fans, and leverage a range of revenue streams within digital music”.
Prior to the deal being announced, Cole told City AM yesterday that the company is looking to build streaming services “outside of the standard £9.99 [a month] model”.[from https://ift.tt/2lvivLP]