musicMagpie launches rental service for businesses

Musicmagpie

26/10/2022 07:00

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RNS Number : 0857E  musicMagpie plc  26 October 2022

26 October 2022

musicMagpie plc

("musicMagpie", or "the Group")

MUSICMAGPIE LAUNCHES APPLE DEVICE SUBSCRIPTION SERVICE FOR BUSINESSES

STAGECOACH TO BE THE FIRST MAJOR CUSTOMER

 

Launch of corporate subscription service within the Group's B2B offering
'musicMagpie Circular'

 

Circular economy pioneer, musicMagpie, announces the launch of its corporate
device subscription service, thus extending its 'musicMagpie Circular'
offering. The subscription service allows businesses to rent and manage Apple
iPhones and iPads for a low monthly subscription, starting from £13 per
month.

 

The service provides several benefits in that it both saves companies time and
money, in addition to supporting their ESG goals by enabling the use of
devices in a much more sustainable way. Renting a device ensures that it is
returned to musicMagpie when it is no longer needed, significantly extending
the lifespan of the device and its parts.

 

A standard subscription term is 24 months and includes an extended warranty,
on-line management tools as well as a range of tailored support services. At
the end of the term, the devices can be renewed, upgraded to the latest
technology, or returned.

 

musicMagpie is partnering with the sustainability focused IT managed services
provider, Utelize Mobile, on its musicMagpie Circular subscription and
recycling services. Through the partnership, customers are provided with an
easy-to-use online portal and support function, which ensures the simplified
management of a device through its entire lifecycle. This removes the
traditional challenges that IT teams face by streamlining processes and
increasing productivity.

 

Stagecoach announced as the first major corporate subscription customer

 

musicMagpie is also announcing today that Stagecoach is the first major
customer of the B2B subscription service, which will build on the Group's
current 'musicMagpie Circular' partnerships with Deloitte and Zurich, who are
current customers of musicMagpie's corporate recycling programme. The
Stagecoach partnership will see the deployment of fully pre-configured and
supported iPads to Stagecoach's extensive network of bus engineers, helping to
provide engineers with the latest technology in a sustainable manner and at a
cost effective price.

 

'musicMagpie Circular' is managed by musicMagpie's Matt Harrison, who joined
the business from Asda as Chief Development and Partnership Officer in May
2022. Matt said:

 

"The economic environment facing consumers and businesses alike is
increasingly tough and the issues of affordability and cash-flow constraints
are being felt by many. Against this backdrop, our proposition of giving
businesses a way to lower their upfront device investment costs through a
monthly subscription, whilst also contributing to the circular economy,
becomes increasingly attractive. With our consumer rental offering having
grown to over 24,000 active subscribers at May 2022 and with Stagecoach
already signed up as one of our first major corporate customers, we're
confident that it will prove to be a popular service for businesses who can
now reap the rewards of renting too."

 

 

 

Matt Atkinson, Managing Director of Utelize, said:

"This exciting new partnership has been specifically designed to address the
long-established issues that many business IT teams encounter when providing
corporate smartphones and tablets to their users. Uniquely, this service joins
up all elements of the device lifecycle from initial sourcing and deployment
through to in-life management, and ultimately includes secure data wiping and
recycling. All of this is accessed via an easy-to-use online portal and is
available for a simple low cost monthly subscription. The service will help
businesses to release IT resources and budget, reduce IT e-waste, and provide
users with the Apple technology and support they need to work productively."

In July 2022, musicMagpie secured a new three-year £30m revolving credit
facility with HSBC UK and NatWest, to help drive future rental growth
including the corporate subscription service.

 

 

- Ends -

 

Enquiries

 musicMagpie plc                           Tel: +44 (0) 870 479 2705

 Steve Oliver, CEO

 Ian Storey, COO
 Matthew Fowler, CFO

 Powerscourt (Financial Public Relations)  Tel: +44 (0) 20 7250 1446

 Rob Greening

 Genevieve Ryan

 Sam Austrums

 

Notes to Editors

About musicMagpie plc

Operating through two trusted brands - musicMagpie in the UK and decluttr in
the US - musicMagpie's core strategy is simple: to provide consumers with a
smart, sustainable and trusted way to buy, rent and sell refurbished consumer
technology and physical media products with sustainability running to the very
heart of its operations. Founded in 2007, the Group has an established
presence in the UK, with operations in Stockport, Greater Manchester, and
in the US in Atlanta, Georgia.

 

musicMagpie has a strong environmental and social focus, as demonstrated by
its trademarked 'smart for you, smart for the planet' ethos. Over 400,000
consumer technology products were resold in FY21. In addition, the Group
re-sells approximately 2,500 tonnes of books and disc media each year that
could have ended up as waste. During 2021, musicMagpie's UK consumer tech
and disc media customers, along with its trade partners, helped to save over
50,000 tonnes of CO(2) by buying, selling and renting with the Group - an
amount equivalent to providing heating for over 18,000 homes. The Group has
been given the London Stock Exchange's Green Economy Mark in recognition of
its contribution to the global green economy.

 

When selling to musicMagpie, the customer is offered a fixed valuation via the
website, provided with free logistics to ship the products and (subject to it
being 'as described') receives payment for their product on the day of arrival
at the Group's warehouse. The Group also recently partnered with Asda to give
customers the option of using its SMARTdrop Kiosks in store for a fast and
easy way to recycle phones for instant cash. Customers purchasing from
musicMagpie receive branded refurbished product for a fraction of the price of
buying new.

 

The Group has the highest number of seller reviews on both Amazon and eBay and
has consistently achieved extremely positive feedback scores. The Group also
has a 4.5* rating on UK Trustpilot with over 230,000 reviews.

 

For further information please visit: www.musicmagpieplc.com
(http://www.musicmagpieplc.com/)

 

About Utelize Communications LTD

Utelize are a fast-growing, sustainability focused Mobile Technology Provider
based in the Malvern Hills, Worcestershire. Utelize develops software and
managed services that help Enterprise customers to reduce unnecessary IT
investment and to streamline the management of mobile phones, tablets and
connectivity. Helping large businesses to save money, reduce their carbon
footprint and release IT resources to tackle genuinely transformative
projects.

For further information please visit: www.utelize.co.uk
(http://www.utelize.co.uk)

 

 

 

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