Stingray's Q1 reflects new additions

MONTREAL – Music service provider and broadcaster Stingray saw first quarter revenues increase 133.4% to $80.4 million, compared with Q1 2018.The increase was primarily due the acquisition of radio broadcaster Newfoundland Capital Corporation, combined with the acquisition of DJ Matic and Novramedia and organic growth in subscription video-on-demand, partially offset by a delay to implement an ad sales model included in the renewal of a contract in fiscal 2019 and by a decrease in equipment and installation sales related to digital signage, said the company press release.Recurring broadcasting and commercial music revenues were up 10.3% to $34 million in the...