MONTREAL — Multiplatform music and media solutions provider Stingray made a trio of announcements on July 31 that included two acquisitions in the Asia-Pacific region and news that its subscription video on demand (SVOD) services now exceed 100,000 paying subscribers across North America and Europe.
The acquisitions of Australia’s SBA Music PTY Ltd. (SBA) and Satellite Music Australia PTY Ltd. (SMA) are aimed at continuing Stingray’s global growth strategy. These agreements follow the December 2015 acquisition of Digital Music Distribution PTY Ltd. (DMD), also of Australia, and the extension of Stingray’s distribution agreement with local pay TV provider Foxtel.
SBA is one of Australia’s leading in-store media solution providers with more than 20 years of expertise as a background music supplier. Stingray, through its Stingray Business division, is already an in-store media market leader in Canada and Mexico.
“While many may know Stingray as the leading provider of multiplatform music services for entertainment content providers, our in-store media solutions division, Stingray Business, is also a driving force for company growth,” said Eric Boyko, president, co-founder and CEO of Stingray, in a press release announcing the SBA acquisition. “By acquiring and integrating SBA into Stingray Business, we guarantee the expansion of our service into the Asia-Pacific market. We are excited by the opportunity to leverage the expertise and market knowledge of the team in place and welcome them wholeheartedly to the Stingray family.”
SMA is also a leading Australian provider of in-store media solutions whose services include background music, digital signage and music videos.
“We are delighted to welcome SMA to the Stingray portfolio of in-store media services,” Boyko said in a separate press release. “Over the past few years, we have worked diligently to grow and solidify our Australian presence. This latest investment demonstrates our confidence in our future in the region. The SMA team has grown a fantastic business and I believe that together we can achieve great success and provide local clients with superior service.”
In its third news release on Monday, Stingray said paid subscriptions for its family of SVOD services have now exceeded 100,000 across North America and Europe. Stingray’s SVOD services include Stingray Karaoke, Stingray Classica, Stingray DJAZZ and Stingray iConcerts, which are available to subscribers through major entertainment services providers such as Amazon, Comcast and Telefonica. Stingray’s SVOD services allow users to enjoy unlimited, curated music programming for a monthly fee.
