Covid drags down Stingray's radio results, but things are improving

Covid drags down Stingray’s radio results, but things are improving MONTREAL – Broadcaster and commercial music provider Stingray Group today reported third quarter revenue decreased 10.8% to $72.6 million, primarily due to the impact of the Covid-19 pandemic on radio revenues. Broadcasting and commercial music revenues increased slightly by 0.7% to $40.2 million for the period ended December 31, 2020, compared to the same time frame last year, while radio station revenues decreased 21.8%, “beating the Canadian radio market in most comparable measures,” says the company’s press release. The company reported operating expenses decreased by 20.7% to $40.6 million while...