MONTREAL, QUEBEC--(Marketwired - April 13, 2017) - Stingray Digital Group Inc. (TSX:RAY.A)(TSX:RAY.B), a leading business-to-business multiplatform music services provider, today announced it has extended its exclusive distribution agreement with leading Australian pay TV provider, Foxtel.
Under the terms of the renewed agreement, Stingray - which acquired Digital Music Distribution Pty. Ltd. (DMD), one of Australia's most prominent digital music services providers, in December 2015 - will continue providing Foxtel with audio music channels on television in addition to new digital music services: the Stingray Music mobile app and web player, and background music for commercial clients (in-store music).
- Exclusive distribution agreement renewed for an additional five (5) years and three (3) months.
- In addition to the selection of audio music channels currently available on television, Foxtel residential subscribers will soon have access to the Stingray Music mobile app and web player.
- The Stingray Music mobile app and web player provide access to the same popular curated audio channels as are available on television.
- Through its commercial services division, Stingray Business, Stingray will provide Foxtel with background music services for commercial clients.
"We are extremely pleased with this expanded and renewed agreement which, in addition to consolidating our position in Australia as the top provider of digital music services for individuals and businesses, confirms our role as a strategic music partner for entertainment content providers," said Eric Boyko, President, Co-founder, and CEO of Stingray. "Today's announcement is a reflection of our commitment to the Australian market. We are happy to be working with Foxtel in our endeavor to bring the best curated music products to music fans in the region."
"Stingray's expertise in music content and delivery has become an integral part of Foxtel's industry leading entertainment offering," said Deanne Weir, Managing Director - Content Aggregation and Wholesale. "The addition of their digital music services for our residential and commercial customers adds even more value to a Foxtel subscription and helps us to effortlessly connect Australian's to the stories, and songs, they love."
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 156 countries. Geared towards individuals and businesses alike, Stingray's products include the following leading digital music and video services: Stingray Music, Stingray Concerts, Stingray iConcerts, Stingray Brava, Stingray DJAZZ, Stingray Music Videos, Stingray Lite TV, Stingray Ambiance, Stingray Karaoke, Festival 4K, and Classica. 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, Singapore, 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.