Also lands in-store media solution agreement with Boston Market
MONTREAL — Music service provider and broadcaster Stingray announced today its Stingray Business commercial services division has signed an agreement with California-based Space Factory Media to represent Stingray products and services for in-store music, digital experiences and AI-driven consumer insights for brands and businesses in the United States.
The deal also includes an exclusive option for Stingray to acquire Space Factory Media for an undisclosed, pre-determined purchase price, says the press release announcing the two companies’ agreement.
Through the deal, Space Factory will deliver business planning, market development, strategic sales, and mergers and acquisitions support to help activate Stingray’s entry into the commercial background music and in-store media business in the United States, says the release. Space Factory will also represent Chatter Research, a Toronto-based company Stingray acquired earlier this year, providing AI-driven customer insight solutions.
“We strongly believe in the continued growth of our commercial music services,” said Eric Boyko, president, co-founder and CEO of Stingray, in the press release. “Our next phase of expansion in the United States solidifies our position as a global leading music provider for businesses while making way for innovative, data-driven solutions.”
“My partner Walt Tatum and I founded Space Factory with a vision to be a key part of reinventing the branded music media industry,” said John Crooke, co-founder and chief media officer for Space Factory. “We sought a partner who shared our commitment to bringing a multi-dimensional solution to enterprise brands inclusive of music, content, media, technology, mobile, and data/insights — all working together ubiquitously across the commercial and consumer space. It was clear that Stingray not only shared our vision but had built the integrated business and solutions to back it up. We couldn’t be more excited about our strategic partnership and what we will accomplish together.”
In a second deal also announced today, Stingray says it will provide in-store media solutions to U.S. rotisserie chicken chain Boston Market, headquartered in Golden, Colorado. The agreement covers indoor and drive-thru digital signage, including digital menu boards for 344 restaurants across the United States.
Stingray Business offers content management from a centralized hub that allows brands to provide targeted and time-sensitive menus. In addition, the offering helps to increase sales, ensure brand consistency, reduce perceived wait times and entertain customers across the franchise network, says the press release
The in-store media solution will be fully deployed across Boston Market’s U.S. restaurants by March 2021, says the release.
