Stingray’s Q1 2022 revenue jumps almost 24% as business returns to normal

MONTREAL — Music service provider and broadcaster Stingray Group Inc. yesterday reported its revenues increased 23.9% to $64.8 million for the first quarter of its 2022 fiscal year, compared to the same quarter a year ago. “This quarter was marked by a strong 24% increase in revenue correlated with a gradual return to normal commercial operations, particularly in Radio,” said Stingray president, co-founder and CEO Eric Boyko in a press release announcing the company’s financial results for the three months ended June 30, 2021. “Overall organic growth for the quarter was close to 2% while the U.S. segment reached an...