Stingray credits acquisitions for 12.3% jump in Q3 revenues

MONTREAL – Acquisitions and international growth continue to pay off for Stingray Digital Group which saw its third quarter revenues climb by over 12%, the company said Thursday.For the third quarter ended December 31, Stingray posted revenues of $25.9 million, an increase of 12.3% compared with revenues of $23.1 million a year ago. The company credited the growth primarily to its acquisitions of iConcerts, Digital Media Distribution (DMD) and Much Channels combined with growth for Music Videos on Demand (MVOD) in the U.S.Recurring revenues were up 11.4% to $21.9 million over the same period last year and remained at 84.6% of...