Universal Music Group (UMG) has entered into an agreement with streaming and download tech provider 7digital to launch streaming, download and mechanidse portals for its most popular artists. The global deal is an expansion of 2017 experiments with Shania Twain and Kanye West.
7digital will power direct to fan online portals that include the ability to buy streamed and downloadable music including exclusive and early access alongside artist merchandise.
UK based 7digital chief executive Simon Cole told City A.M. that the goal is offer labels and artists new revenue streams “outside of the standard £9.99 model” of Spotify, Apple Music and others.
Why Now?
The move comes at a time when streaming is now accounting for75% of label and artist revenue, as well as, growing indications that Apple will stop selling downloads sometime in 2019.
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