MONTREAL, QUEBEC--(Marketwired - Oct. 14, 2016) - Stingray Digital Group Inc. (TSX:RAY.A)(TSX:RAY.B), a leading business-to-business multiplatform music services provider, grows its classical music offering with the acquisition of hundreds of exclusive pre-2013 concerts and documentaries from Berlin-based EuroArts, an internationally renowned producer and distributor of classical music film productions. EuroArts will continue to distribute the acquired programs and will maintain its distribution, acquisition and production businesses.
Stingray has secured worldwide rights to EuroArts' back catalogue as well as an option to purchase all future content. Furthermore, Stingray and EuroArts have established a long-term partnership whereby EuroArts will be Stingray's exclusive distributor of the acquired programs. EuroArts thus becomes Stingray's first content distribution partner.
"To compete in today's media landscape, working with the best content producers and distributors is paramount," said Eric Boyko, President, Co-founder and CEO of Stingray. "This latest acquisition will benefit all our services, and exponentially grow our linear and On Demand offering. According to a National Endowment for the Arts survey on arts consumption, in the U.S. market, almost 40 million Americans attend a live classical music or opera performance in a 12-month period. Quickly responding to market demands and providing operators with premium, quality content across all platforms is key to our growth strategy."
The agreement with EuroArts marks Stingray's second foray into content acquisition following the recent purchase of Cultuur 7, a Flemish provider of classical music content. This transaction also complements the 2015 acquisition of the Brava NL and Brava HD specialized classical music television channels (now Stingray Brava).
"Pairing my 35 years at EuroArts as a producer and distributer of high quality classical music programming with Stingray's multiplatform expertise is certainly one of the highlights of my career as an executive producer and managing director," assured Bernd Hellthaler of EuroArts. "This exciting partnership marks an important step for EuroArts towards the digital future of classical music distribution; one which I am thrilled to take."
"We look forward to the new distribution partnership with Stingray for the pre-2013 catalogue it has acquired," said Thomas Baer, Chairman of the EuroArts holding company EuroArts, LLC. "This sale will enable EuroArts to enhance and strengthen its existing lines of business in the areas of distribution, acquisition and production, and to modernize its infrastructure."
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Stingray (TSX:RAY.A)(TSX:RAY.B) is a leading business-to-business multi-platform music and in-store media solutions provider operating on a global scale, reaching an estimated 400 million Pay-TV subscribers (or households) in 152 countries. Geared towards individuals and businesses alike, Stingray's products include the following leading digital music and video services: Stingray Music, Stingray Concerts, Stingray Brava, Stingray Djazz, Stingray Music Videos, Stingray Lite TV, Stingray Ambiance, Stingray Karaoke, Festival 4K, and iConcerts. Stingray also offers various business solutions, including music and digital display-based solutions, through its Stingray Business division. Stingray is headquartered in Montreal and currently has close to 300 employees worldwide, including in the United States, the United Kingdom, the Netherlands, Switzerland, France, Israel, Australia and South Korea. Stingray was recognized in 2013 and 2014 as a finalist in the Top 50 of Deloitte's Technology Fast 50™ list, and figures amongst PROFIT magazine's fastest-growing Canadian companies. In 2016, Stingray was awarded best IR for an IPO at the IR Magazine Awards - Canada. For more information, please visit www.stingray.com.
EuroArts Music International was founded in 1979 by Bernd Hellthaler and is internationally renowned for its audio-visual production and distribution of classical music. In addition to its own productions and back catalogue, EuroArts also handles the Idéale Audience catalogue, as well as a variety of independent producers. With long lasting relationships with artists, orchestras and conductors including the late Claudio Abbado, Sir Simon Rattle, Daniel Barenboim, the Berliner Philharmoniker, the San Francisco Opera, and world class performers like Plácido Domingo, Anna Netrebko, Valery Gergiev, Martha Argerich, Anne-Sophie Mutter, Yuja Wang, and Daniil Trifonov, the company is a leader in the classic music industry. Achievements include numerous awards such as an Oscar® (for the co-production of "Journey of Hope"), a Peabody Award and Grammy Award Nomination (for "Blue Note - A Story of Modern Jazz"), an Emmy Award (for "Robbie Robertson" and for "Knowledge is the Beginning"). Recent awards include a Grand Prix Golden Prague (for "The Life I love - The Pianist Menahem Pressler") and winner "Best Live Performance Relay" at Dancescreen San Francisco Dance Film Festival (for "C(H)ours" by Alan Platel). To learn more, please visit: www.euroarts.com.