B2B digital audio services provider 7digital has acquired competitor 24-7, according to an exclusive report from MIDiA Research. The music services provider has assumed full ownership of the long-time rival business from MediaMarktSaturn, a German retail company. No financial details were disclosed.
24-7 was founded in 2000. It powers TDC’s Play, one of the earliest music services offered by a telecom. Following the acquisition, 7digital will take over operation of both the business and its existing music services.
The music provider industry has seen heavy consolidation in the past year. Omnifone entered administration. SOCAN purchased Medianet. 7digital also kicked off 2016 with the acquisition of Snowite.