Business

Songtradr Strengthens B2B Music Solutions With Acquisition Of 7digital

By Loudest Team
April 03, 2023
Songtradr Strengthens B2B Music Solutions With Acquisition Of 7digital

Songtradr, a global music licensing platform, recently announced the completion of its acquisition of 7digital, a UK-based B2B music firm, for $23.4 million. The deal was first announced in December 2020, and after several months of regulatory approvals, the acquisition has now been finalized.

Songtradr, founded in 2014, is a marketplace for licensing and distribution of music, connecting artists, songwriters, publishers, and music supervisors with brands, advertisers, filmmakers, and other media outlets. The platform offers a wide range of services, including music distribution, sync licensing, music publishing, and royalty administration, making it a one-stop-shop for music licensing needs.

7digital, on the other hand, provides B2B music solutions to media companies, retailers, and other businesses, including white-label music streaming, radio services, and music metadata solutions. The company has been around since 2004 and has worked with many well-known brands, including Universal Music Group, Warner Music Group, and the BBC.

The acquisition of 7digital will help Songtradr expand its offerings and reach new markets. With 7digital's expertise in B2B music solutions, Songtradr will be able to provide a more comprehensive suite of services to its clients, including white-label music streaming and radio services.

In a statement, Paul Wiltshire, CEO of Songtradr, said, "We are excited to welcome 7digital to the Songtradr family. Their team's expertise in B2B music solutions and their extensive customer base will be invaluable in helping us expand our reach and offerings. We look forward to working together to provide the best possible solutions for our clients."

Simon Cole, CEO of 7digital, added, "We are delighted to be joining forces with Songtradr. Their innovative approach to music licensing and distribution aligns perfectly with our own vision, and we are excited to bring our expertise in B2B music solutions to their platform. Together, we will be able to offer a more comprehensive range of services to our clients and drive growth in the music industry."

Overall, the acquisition of 7digital is a significant step forward for Songtradr, as it seeks to become a dominant player in the global music licensing market. With its expanded offerings and expertise in B2B music solutions, Songtradr is well-positioned to capitalize on the growing demand for music licensing services and drive growth in the industry.

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