Stingray’s acquisition of NCC begins to pay off as Q3 revenues double

MONTREAL – Stingray credited its recent acquisition of Newfoundland Capital Corporation Inc. (NCC) for a 101.6% jump in third quarter revenues, however, the deal also weighed down profits.For the third quarter ended December 31, Stingray posted revenues of $70.8 million, double the $35.1 million recorded a year ago. In addition to the NCC acquisition, revenues were also powered by the company’s acquisition of DJ Matic and organic growth in SVoD and B2C apps.SVoD reached a new high of over 356,000 subscribers in the quarter, up from 316,000 in the prior quarter. SVoD monthly revenues increased 25% to $3.2 million compared to the...