American global music corporation, Universal Music Group has signed a partnership deal with London based 7digital for providing music streaming platform services. With this deal, 7digital will provide UMG the ability to improve and create playlists for all their partners. This could reportedly generate $500,000 for Universal Music Group.
Simon Cole, CEO, 7digital quoted, “Our company provides a range of services for recording labels that helps create new and innovative revenue streams outside the standard streaming business model. Our company is looking to expand the streaming service model outside of the standard £9.99 model.”