According to reports, Spanish Broadcasting System Inc (NASDAQ:SBSA) has decided to enter into digital content partnership with 7digital. The latter one of the well-known open digital music platform.
Insights of the deal:
As per the terms of the partnership, 7digital will provide a secure content management technology to LaMusica.com. It is online Latin music channel and one of the top-notched news and entertainment destination of Spanish Broadcasting System Inc (NASDAQ:SBSA). It will also help the channel with an effective royalty reporting system in order to support additional music on channel apart from its flagship radio station streaming facility. According to recently published Nielsen Audio Rating Report, LaMusica.com is one of the finest mobile app and online music portal. It streams around fourteen Spanish Radio Channels of SBSA, which aalso include WSKQ-FM. It is number one ranked Spanish-language radio station among 18 to 49-year-old adults. Regardless its Spanish language, it is the top-ranked radio station in New York area as well.
LaMusica.com provides a wide array of services including cultural, music and entertainment content leveraging television, radio network and live entertainment properties of SBSA. The management of Spanish Broadcasting System Inc (NASDAQ:SBSA) is quite confident about the impact that company’s online offerings are creating. According to Raul Alarcón, Jr., CEO and Chairman of SBSA, the company will continue to fuel money into LaMusica.com for strengthening and extending its content offering. The national following base of LaMusica.com is continuously increasing, which shows the uniqueness and originality of the digital content that is published on the portal. Agreement deal with 7digital will strengthen company’s plans to maximize digital reach of LaMusica.com globally. The company will also look to close ties to the well-known Latin Music community and capitalize its exposure to some of the strongest media brands. The management of the company says that it will further take a few actions to ensure continual growth for company’s digital platform.