MONTREAL – Stingray Digital Group has received a five year renewal of its broadcasting licence from the CRTC for its national pay audio service Stingray Music.
Under the terms of the renewal, Stingray will contribute each year a minimum of 4% of the annual gross revenues earned by its pay audio programming undertaking to eligible third parties associated with Canadian content development allocated as follows:
– 25% to FACTOR;
– 25% to MUSICACTION,
– 5% to Community Radio Fund of Canada and;
– 45% to Stingray Music Rising Star to discover, encourage and promote new Canadian artists.
"We are pleased by with the CRTC's decision to renew our broadcast licence”, said Stingray president, CEO and founder Eric Boyko, in a statement Tuesday. “Notwithstanding our international growth of the past years, Canada remains our home base and one of our major markets. We wish to thank our partners in the music industry for their support throughout the renewal process.”
Formerly known as Galaxie, Stingray Music’s licence has been renewed from September 1, 2015 to August 31, 2020. The service is currently distributed to an estimated 10.5 million Canadian households through TV service providers including Shaw, Bell, Videotron, Cogeco, Rogers, and Telus.
