7digital Group (7DIG)

Business description

7digital provides an end-to-end, white-label digital music platform and access to global music rights enabling its clients (incl. musical.ly, Onkyo, Panasonic, MediaMarktSaturn, Electric Jukebox, eMusic, TDC, DTS, Fender, SoundHound and i.am+) to offer music streaming and download services to their own customers.

Stock data

Market cap.£22.4m
Last close5.63p
High / Low (52 weeks)8.5p / 4.6p
Stock market listingLN
Forecast net debt (£m)0.9
Forecast gearing ratio (%)65
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual15.59.9(20.2)
Relative *13.07.6(25.9)

* % Relative to local index

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Company news

Investment summary

7digital is proposing to raise £8.5m (before expenses) through the issue of up to 212.5m new shares at a price of 4p, a 22% discount to close on 30 November. £8m of this has already been placed or subscribed, with £0.5m available via an open offer. The shares will be admitted to AIM on 19 December, subject to shareholder approval.

Last updated on 07/12/2017

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 10.4 (2.1) (7.6) (7.1) N/A N/A
2016A 11.9 (3.5) (4.7) (4.1) N/A N/A
2017E 19.1 (1.7) (2.9) (1.8) N/A N/A
2018E 24.9 3.0 2.1 1.2 4.7 N/A

Last updated on 30/10/2017

Latest research

Proposed GBP8.5m fund-raise

Flash note | Technology | 07/12/2017

H2 step increase in revenues underpinned

Update | Technology | 29/09/2017

A good start to the year

Update | Technology | 16/08/2017

Stand and deliver

Initiation | Technology | 10/07/2017

A step change with 24-7 deal

QuickView | Technology | 04/07/2017

Potential acquisition of 24-7 and share placing

QuickView | Media | 13/03/2017

EBITDA break-even reached, positive outlook

QuickView | Media | 18/01/2017

EBITDA break-even in sight

QuickView | Media | 21/09/2016

On track to break-even during H216

QuickView | Media | 22/07/2016

Winning business

QuickView | Media | 09/05/2016

Snowite completes - profits on stream

QuickView | Media | 11/04/2016

Snowite and the 7digital

QuickView | Media | 30/03/2016

Latest video

Executive Interview - 7digital

Industry outlook

Streaming has revived the music industry and with only 2% of the world’s adult population paying for such services the opportunity remains significant. The market is dominated by a few global platforms; 7digital’s success is predicated on its belief that there remains a vast untapped market for music services that will be served by a range of business models. By providing the back-end technology and catalogue to companies that may want to act as alternatives to these major platforms, 7digital is aiming to become the world’s leading end-to-end music services group.

Last updated on 02/11/2017

Key management

Simon Cole, CEO
Matthew Honey, CFO

Company address

69 Wilson Street
London
EC2A 2BB
United Kingdom
+44 (0)20 7099 7777
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