Stingray's Q2 2021 revenues take Covid-19 hit; radio showing signs of recovery

MONTREAL — Broadcaster and music service provider Stingray today reported its revenues decreased 16% in the second quarter of its 2021 fiscal year, compared to the same quarter last year, primarily due to the impact of the Covid-19 pandemic on the company’s radio revenues. For the three months ended September 30, 2020, Stingray’s revenues totalled $64.3 million, down from $76.6 million in the same period of last year. The company’s radio revenues decreased by 33.6% to $25.1 million, compared to $37.8 million a year ago. Stingray’s broadcasting and commercial music segment (which includes its TV channels) saw revenues increase 1.1%...