InStore Audio Network

Stingray Reports Fourth Quarter and Full Year Results for Fiscal 2023

Retrieved on: 
Tuesday, June 6, 2023
Comcast, Advertising, Partnership, Prevention of the Avoidance of Income Tax Act, ISAN, FAST, CEWS, Policy, COVID-19, Sleep, Stingray, InStore Audio Network, Cox, Interest, Comparison of multi-paradigm programming languages, Net income, Parity, EBITDA, Corporation, Acquisition, Income Tax Act, Growth, Entrepreneurship, Verizon Communications, CARIAD, Meditation, Contour, Contemporary commercial music, Xfinity Flex, News, Harman, SVOD, Video game, Security (finance), Music, Reinsurance, Holding company, Audi, Adjustment, Radio

MONTREAL, June 06, 2023 (GLOBE NEWSWIRE) -- Stingray Group Inc. (TSX: RAY.A; RAY.B) (the “Corporation”; “Stingray”), a leading distributor of audio and video music brands in the world, today announced its financial results for the fourth quarter and fiscal year ended March 31, 2023.

Key Points: 
  • Revenues in the fourth quarter increased $6.3 million, or 8.7%, to $78.9 million from $72.6 million in the fourth quarter of 2022.
  • Broadcasting and Commercial Music revenues in the fourth quarter of 2023 increased $4.4 million, or 9.8%, to $50.0 million from $45.6 million in the fourth quarter of 2022.
  • Adjusted EBITDA in the fourth quarter of 2023 increased $5.6 million, or 26.4%, to $26.6 million from $21.0 million in the fourth quarter of 2022.
  • Cash flow generated from operating activities amounted to $27.6 million in the fourth quarter of 2023 compared to $22.1 million in the fourth quarter of 2022.

Global Stock Music Market Outlook & Forecast Report 2023-2028: Immersive Sound Design Gaining Ground and Rise of Independent Content Creators Fueling Growth - ResearchAndMarkets.com

Retrieved on: 
Monday, March 27, 2023
Music, Entertainment, Advertising, Education, Marketing, Culture, InStore Audio Network, USD, Budweiser, Getty Images, Radio, Growth, Coca-Cola, Video game, Cassette tape, Shutterstock

Currently, demand is being spurred by royalty-free and licensed music owing to the growth in independent content creation.

Key Points: 
  • Currently, demand is being spurred by royalty-free and licensed music owing to the growth in independent content creation.
  • However, stock music market vendors have also responded and designed their products and services around the trend of independent content creation, further fuelling their uptake in the industry.
  • Most podcast creators depend on stock music for ease; as paid podcast subscriptions grow, so are the industry revenues, thereby boosting the stock music market.
  • The global stock music market by tracks is witnessing steady growth fueled by the age of personal creation.

Stingray Reports Second Quarter Results for Fiscal 2023 with good momentum in Stingray Advertising

Retrieved on: 
Tuesday, November 8, 2022
CEWS, FAST, Review, B2B, InStore Audio Network, Television, Phrase, Method, Investment, Debt, OOH, International Financial Reporting Standards, Advertising, Risk, Partnership, LG, Depreciation, Board, Familiprix, Interest, SVOD, Income Tax Act, WebOS, Pharmacy, News, International, Public expenditure, EBITDA, Policy, Comparison, UHD, Net, Program, Contemporary commercial music, Corporation, Terminology, Growth, TSX, Income Tax Act 1947, Tax, SEDAR, Toronto Stock Exchange, Acquisition, COVID-19, Income, Bank, Life insurance, Bookkeeping, Mobile phone, Pharmaceutical industry, Security (finance), Director, Stingray, Radio, Adjustment

Based on ongoing revenue momentum and cost control measures, we are confident about sustaining a 35% Adjusted EBITDA margin by the year-end.

Key Points: 
  • Based on ongoing revenue momentum and cost control measures, we are confident about sustaining a 35% Adjusted EBITDA margin by the year-end.
  • Broadcasting and Commercial Music revenues improved 17.0% year-over-year to $44.9 million in the second quarter of 2023 mainly due to the InStore Audio Network acquisition that closed in early January.
  • Radio revenues, meanwhile, edged up 1.3% to $32.7 million in the quarter, benefiting from a gradual return to normal commercial operations post-COVID.
  • For the quarter, revenues in Canada improved 1.2% to $47.2 million from $46.7 million in the same period in 2022.

Audio Network Partners with Figaro to Help Creatives Find the Perfect Music for Sync

Retrieved on: 
Thursday, October 13, 2022
Culture, Growth, Machine learning, Workflow, InStore Audio Network, Music, Partnership, Artificial intelligence, Goal, Coca-Cola, Industry, AI, CEO, Television, Advertising, Classification, Creativity, Feedforward, Language, Cassette tape, Online shopping, Figaro

LONDON, Oct. 13, 2022 /PRNewswire/ -- Audio Network announced a new partnership with music search engine Figaro to make it easier and faster for customers in film, television, advertising, and digital media to find the perfect track to tell their stories. The collaboration has two primary aims: to streamline the work of music supervisors across the industry by leveraging the power of intuitive music search and to save catalogues time and money spent on music operations.

Key Points: 
  • The benefit for Audio Network's customers will be improved search results, enabling music supervisors to focus on creative decision-making and selecting the perfect track.
  • The partnership with Figaro will allow Audio Network to update search terms at scale, across 200,000+ tracks, keeping search consistent across the entire catalogue.
  • "We are delighted Audio Network recognised Figaro as the right partner to help create an intuitive and consistent search experience for its customers."
  • Audio Network is a music company creating original, high-quality music for broadcasters, brands, creators and music fans everywhere.

Audio Network Partners with Figaro to Help Creatives Find the Perfect Music for Sync

Retrieved on: 
Thursday, October 13, 2022
Culture, Growth, Machine learning, Workflow, InStore Audio Network, Music, Multimedia, Partnership, Artificial intelligence, Goal, Coca-Cola, Industry, AI, CEO, Television, Advertising, Classification, Creativity, Feedforward, Language, Cassette tape, Online shopping, Figaro

LONDON, Oct. 12, 2022 /PRNewswire/ -- Audio Network announced a new partnership with music search engine Figaro to make it easier and faster for customers in film, television, advertising, and digital media to find the perfect track to tell their stories. The collaboration has two primary aims: to streamline the work of music supervisors across the industry by leveraging the power of intuitive music search and to save catalogues time and money spent on music operations.

Key Points: 
  • The benefit for Audio Network's customers will be improved search results, enabling music supervisors to focus on creative decision-making and selecting the perfect track.
  • The partnership with Figaro will allow Audio Network to update search terms at scale, across 200,000+ tracks, keeping search consistent across the entire catalogue.
  • "We are delighted Audio Network recognised Figaro as the right partner to help create an intuitive and consistent search experience for its customers."
  • Audio Network is a music company creating original, high-quality music for broadcasters, brands, creators and music fans everywhere.

Music industry veteran Lefroy Verghese joins Audio Network

Retrieved on: 
Wednesday, August 3, 2022
A&R, InStore Audio Network, Publishing, Marketing, Coca-Cola, Bertelsmann Music Group, Television, Music, Multimedia, Audio, BMG, Lefroy, Achievement, Advertising, Asia-Pacific

LONDON, Aug. 3, 2022 /PRNewswire/ -- Lefroy Verghese, a high-profile licensing and A&R executive with more than two decades of experience in the music business, has joined global production music company Audio Network as general manager of its Asia-Pacific (APAC) region. His hiring indicates a significant commitment to expanding the company's APAC operations as it continues to break ground in creating original, high-quality music for television, advertising, enterprise, and digital media.

Key Points: 
  • LONDON, Aug. 3, 2022 /PRNewswire/ -- Lefroy Verghese, a high-profile licensing and A&R executive with more than two decades of experience in the music business, has joined global production music company Audio Network as general manager of its Asia-Pacific (APAC) region.
  • Lefroy Verghese, a high-profile A&R executive, joins Audio Network as general manager of its Asia-Pacific (APAC) region.
  • In addition, during his tenure running one of BMG's premier production music labels it witnessed the successful development of commercially viable local artists playing regional music.
  • Audio Network is a music company creating original, high-quality music for broadcasters, brands, creators, and music fans everywhere.

Music industry veteran Lefroy Verghese joins Audio Network

Retrieved on: 
Wednesday, August 3, 2022
A&R, InStore Audio Network, Publishing, Marketing, Coca-Cola, Bertelsmann Music Group, Television, Music, Audio, BMG, Lefroy, Achievement, Advertising, Asia-Pacific

LONDON, Aug. 3, 2022 /PRNewswire/ -- Lefroy Verghese, a high-profile licensing and A&R executive with more than two decades of experience in the music business, has joined global production music company Audio Network as general manager of its Asia-Pacific (APAC) region. His hiring indicates a significant commitment to expanding the company's APAC operations as it continues to break ground in creating original, high-quality music for television, advertising, enterprise, and digital media.

Key Points: 
  • LONDON, Aug. 3, 2022 /PRNewswire/ -- Lefroy Verghese, a high-profile licensing and A&R executive with more than two decades of experience in the music business, has joined global production music company Audio Network as general manager of its Asia-Pacific (APAC) region.
  • In his new role, Verghese will oversee Audio Network's commercial activities in Australia, New Zealand, Southeast Asia, India, and China one of the fastest growing countries for the business worldwide.
  • In addition, during his tenure running one of BMG's premier production music labels it witnessed the successful development of commercially viable local artists playing regional music.
  • Audio Network is a music company creating original, high-quality music for broadcasters, brands, creators, and music fans everywhere.

Introducing Stingray Advertising, North America's Largest In-Store Audio Advertising Network

Retrieved on: 
Thursday, June 2, 2022
HBC, DMA, SVOD, Pharmacy, InStore Audio Network, Walmart Canada, Environment, Rite Aid, Senior, Music, FAST, GLOBE, Stingray, Technology, B2B, Ahold, Albertsons, TSX, Acquisition, Metro, Weis Markets, Advertising, CVS, Tops Friendly Markets, Safeway, UHD, OOH, CPG, Online shopping, Southeastern Grocers, Brookshire Brothers

This forms the largest in-store audio advertising network in North America, reaching 140 million shoppers each week in over 20,000 grocery retailers, superstores, discount stores and pharmacies.

Key Points: 
  • This forms the largest in-store audio advertising network in North America, reaching 140 million shoppers each week in over 20,000 grocery retailers, superstores, discount stores and pharmacies.
  • Stingray Advertising delivers targeted audio messaging to shoppers in a captive media environment at the point-of-purchase.
  • For more information: www.stingray.com
    Stingray Advertising connects brands to audiences across the Stingray multiplatform ecosystem through broadcast, streaming, and retail media.
  • It is the largest in-store audio advertising provider in North America, delivering commercial audio messages to shoppers in over 20,000 grocery, drug, retail, and convenience stores.

Stingray Reports Third Quarter 2022 Results

Retrieved on: 
Tuesday, February 8, 2022
Policy, Growth, SVOD, Terminology, InStore Audio Network, Sale, Corporation, Amazon Echo Show, EBITDA, Risk, Fire, United Kingdom, Motion, CTV, Phrase, UHD, Income tax, Public expenditure, Traction, B2B, SOCAN, Pharmacy, Method, Music, Net, Acquisition, News, SEDAR, International Financial Reporting Standards, Depreciation, Comparison, Dollarama, Technology, Advertising, Broadcasting, FAST, TSX, Interest, Contemporary commercial music, COVID-19, Income, Board, Investment, IFRS, Tax, International, Â, Tutoring, Life insurance, Bank, Video game, Television, Video game console, Pharmaceutical industry, Cryptocurrency, Holding company, Kapang railway halt, Stingray, Radio, Director, Adjustment

During the third quarter of 2022, Broadcasting and Commercial Music revenues grew by 2.3% to $41.1 million mostly due to higher advertising revenues.

Key Points: 
  • During the third quarter of 2022, Broadcasting and Commercial Music revenues grew by 2.3% to $41.1 million mostly due to higher advertising revenues.
  • For the third quarter of 2022, revenues in Canada grew $2.0 million, or 4.2%, to $49.4 million from $47.4million for Q3 2021.
  • Adjusted free cash flow(4) generated in Q3 2022 reached $14.7 million in Q3 2022 compared to $19.6 million for Q3 2021.
  • The dividend will be payable on or around March 15, 2022, to shareholders on record as of February 28, 2022.

Stingray Expands its Retail Media Network to the United States with the Acquisition of InStore Audio Network

Retrieved on: 
Wednesday, January 5, 2022
Acquisition, B2B, Music, Albertsons, Environment, Weis Markets, FAST, Digital, Tops Friendly Markets, Phrase, Risk, Rite Aid, Safeway, TSX, CEO, SEDAR, InStore Audio Network, CVS, Partnership, UHD, News, GLOBE, Terminology, Pharmacy, Solution, SVOD, Leadership, Online shopping, Brookshire Brothers, Southeastern Grocers, Stingray

With this acquisition, Stingray expands its retail-based digital audio advertising footprint in the United States and reaffirms its position as a leading global provider of state-of-the art digital media solutions.

Key Points: 
  • With this acquisition, Stingray expands its retail-based digital audio advertising footprint in the United States and reaffirms its position as a leading global provider of state-of-the art digital media solutions.
  • InStore Audio Network enables the monetization and delivery of highly targeted digital audio advertising at a location level via custom curated streaming music services.
  • Under Stingray's ownership, InStore Audio Network will continue to broaden its existing retail media offering with a focus on verified audience measurement, digital ad serving and programmatic monetization.
  • This acquisition by Stingray fortifies a partnership that will provide significant value to our current retail partners and advertisers, said Gary Seem, President of InStore Audio Network.