MONTREAL, QUÉBEC--(Marketwired - Dec. 5, 2013) - Stingray Digital announces that it has signed an extended agreement with Mood Media Corporation allowing for expanded representation of Mood's products and services in Canada. This new agreement extends the existing relationship between Stingray and Mood to include additional Music, Messaging, Digital Signage and Scent solutions. This renewed contract with Mood confirms Stingray's unrivalled presence in the commercial space in Canada.
As a result of this agreement, Stingray will also support an expanded customer base of more than 7,500 additional Mood commercial locations, providing for tremendous growth opportunities within its existing client base. Through its relationship with Mood and with a national reach of close to 70,000 clients, Stingray becomes the largest provider of background music to Canadian businesses.
"The efforts of the Stingray team over the last 4 years have helped us establish a very strong foundation to build on," commented Eric Boyko, President and CEO of Stingray Digital. "This new strategic relationship with Mood will allow us to implement the next phase of our growth plan while continuing to look at other acquisition opportunities to further consolidate the industry," he added.
"Stingray has been a valued affiliate of Mood's for many years. With this new agreement, we ensure a continued, mutually beneficial relationship that will result in even better service for existing and new clients who will benefit from the combined expertise of the two companies," added Steve Richards, CEO and President of Mood Media Corporation.
Existing and new clients alike will recognize the high quality of the products and services provided by Stingray and Mood, with even more advanced, innovative products now available to businesses who seek to offer the most complete brand experience to their customers through music, digital signage, mobile and scent solutions.
About Stingray Digital
Stingray Digital is the main provider of multiple platform musical services to Pay-TV operators worldwide, with more than 75 million subscribers in 105 countries. Stingray Digital owns the following services:
- Galaxie, a leading TV digital music service offered in Canada, the United States, and Latin America (www.galaxie.ca);
- The KARAOKE Channel, a TV and internet karaoke service, owner of the largest library of karaoke licenses, available on TV in more than 55 million homes (www.thekaraokechannel.com);
- Music Choice Europe, a leading TV digital music service in Europe and Africa (www.musicchoiceinternational.com);
- Concert TV, an on-demand video service broadcast into 45 million households in the United States and Canada (www.concerttv.com); Stingray360, number one in the field of sensorial marketing solutions for business (www.stingray360.com);
- Stingray Music, a music rights management service for movies, TV, advertising and more (www.stingray-music.com).
Stingray Digital is majority owned by Telesystem, Novacap and Boyko Investment Corporation. The company, whose headquarters are in Montréal, employs 200 people in its Canadian offices in addition to brick and mortar locations in Los Angeles, London, Mexico City, and Tel-Aviv.
For more information, go to www.stingraydigital.com.
About Mood Media Corporation
Mood Media Corporation (TSX:MM)(LSE:MM), is one of the world's largest designers of in-store consumer experiences, including audio, visual, interactive, scent, voice and advertising solutions. Mood Media's solutions reach over 150 million consumers each day through more than half a million subscriber locations in over 40 countries throughout North America, Europe, Asia and Australia.
Mood Media Corporation's client base includes more than 850 U.S. and international brands in diverse market sectors that include: retail, from fashion to financial services; hospitality, from hotels to health spas; and food retail, including restaurants, bars, quick-serve and fast casual dining. Mood Media's marketing platforms include 77% of the top 100 retailers in the United States and 100% of the top 50 quick-serve and fast-casual restaurant companies. Website www.moodmedia.com.