Mnet Group (ASX:MNZ) has renewed its managed services and product development contract with Telstra on its Caller Tones service for another three years.
The renewed contract provides the opportunity to grow the Caller Tones service into a mainstream product offering through the development of a range of new service models.
The Caller Tones services plays music over the normal ringing sound a caller hears when they dial another person’s mobile number. It currently offers more than 8000 songs across a variety of categories.
The deal is also the second significant win for the company in under a month. In mid-April, Mnet announced it had entered into a Master Content Aggregator Agreement with Vodafone Hutchison Australia (VHA) for a range of content portals including Vodafone Live! and Planet 3.
Under the agreement, Mnet was responsible for establishing, hosting, managing, operating, supplying and maintaining music, ring tones and games content for VHA.