Stingray’s Q2 2022 revenues rise 11%

MONTREAL — Broadcaster and commercial music provider Stingray Group Inc. announced yesterday its revenues increased 11.1% to $71.4 million for the second quarter of its 2022 fiscal year, compared to the same quarter a year ago. Reporting its results for the three months ended Sept. 30, 2021, the company said in a press release the revenue increase “was primarily due to the gradual easing of Covid-19 restrictions, the progressive return to normal commercial operations and to an increase in advertising revenues, partially offset by a negative foreign exchange rate impact.” Stingray’s adjusted EBITDA for the second quarter of 2022 decreased...