7Digital It won a two-year contract with Singapore-based global social video sharing app Lomotif.
The company’s B2B music-as-a-service platform will provide licensed repertoire used in the Lomotif app globally.
Lomotiv It is a short-form web video sharing platform with editing and organizing tools designed to encourage creativity and collaboration.
Lomotif is majority owned by ZVV Media Partners, a joint venture between Zash Global Media and Entertainment Corporation and Vinco Ventures. It has a global presence from Asia to Latin America, and from West Africa to the United States.
The initial contract will cover Licensed masthead content In existing regions of the application, it will accommodate the expansion of content from newly licensed brands as well as usage.
Lomotif will stream licensed music and clips directly from 7digital’s music-as-a-service platform to end users. The platform will automatically filter label licenses so that the app can only access the fully licensed catalog.
Lomotif will also use 7digital’s full-service back-end tagging and publisher reporting solutions.
Paul Langworthy, CEO of 7digitalHe said: “As a leader in end-to-end music solutions, 7digital has supported some of the biggest social media companies in the industry throughout their tremendous growth, and it’s great to add another rising social media platform to the list. This contract also reflects the increasing shift of our pricing model to align revenue with usage that drives Expands as the client grows.
“We are at an exciting inflection point where our deal momentum is delivering significant revenue improvement and each new contract adds to our growing base of recurring license fees, with contracted license revenues for 2022 already exceeding 2021 levels by 21%. We are pleased to support Lomotif as they build one One of the largest short video platforms in the world.
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