7digital Has New Agreements In Place, Announces 2015 Results
March 30, 2016 at 12:42 PM (PT)
7DIGITAL has signed new dels with GLOBAL RADIO, I.AM+, RED BULL MEDIA HOUSE, KLASSIK RADIO and MUS, with a cumulative lifetime value of £3.6m. Last year, 7DIGITAL signed 17 new clients with a cumulative lifetime deal value of £4.2m.
The company also announced preliminary results for last year, with revenues climbing by 21% to £6.5m from 2014's £5.4m. Monthly revenue for DECEMBER 2015 grew by 72% to approximately £5.8m from DECEMBER 2014's £3.4m. Streaming revenue for DECEMBER 2015 grew 300% to £3.4m from DECEMBER 2014's £0.8
Gross margin grew from 59% to 68% and adjusted LBITDA reduced by 31% to £2.1m from 2014's £3.1m on turnover of £10.4m (2014: £10.2m), reflecting the business model’s strong sales.
Revenues from internet-delivered radio were up by 72% to £1,218k from 2014's £708k.
The JANUARY acquisition of leading FRENCH digital streaming music provider SNOWITE SAS will, upon completion, further improve sales pipeline, expand industry relationships and strengthen platform technology