MONTREAL – Music, media, and technology company Stingray announced Thursday a new economic stimulus plan offered through its 104 radio stations across Canada which is aimed at helping local businesses obtain grants, in the form of radio advertising, during the Covid-19 crisis.
Through this program, Stingray will provide a minimum of $15 million in radio advertising grants to local businesses in markets across Canada where Stingray operates local radio stations, says the company press release.
Stimulant grants will range from a minimum of $1000 up to a maximum of $100,000 in radio advertising per business. The recipient business will have twelve months to utilize the radio advertising grant provided towards booking and airing a radio advertising campaign and will not be required to invest additional sums with Stingray radio stations to receive the grant.
“Radio advertising has long been a successful stimulus for local economic activity in our country,” said Ian Lurie, president of Stingray Radio in the release. “We are delighted to support local businesses lacking the capital resources to invest in advertising to effectively relaunch their business. The Stingray Stimulus Program is our way of helping to kick-start Canada’s economic engine for local business.”
Local businesses in Stingray radio markets can apply for the grant at www.stingraystimulus.com. Grants will be determined and approved by the local Stingray radio management team based on their determination and weighting of relevant objective factors, including: immediate economic need, Covid-19 impact, social need, community benefit, and long term (macro-economic) benefit.
A local Canadian business is defined as any registered Canadian business, not for profit organization or charity that operates within 100 kilometres of the designated municipality in which the applicable Stingray radio operation is located.
