Stingray Digital Group Inc.
TSX : RAY.A
TSX : RAY.B

Stingray Digital Group Inc.

July 31, 2017 19:00 ET

Stingray Pursues Growth in the Asia-Pacific Region

Stingray Acquires Satellite Music Australia PTY Ltd.

MONTREAL, QUEBEC--(Marketwired - July 31, 2017) - Stingray (TSX:RAY.A)(TSX:RAY.B), a leading business-to-business multiplatform music provider, today announced that it has concluded the acquisiton of Satellite Music Australia PTY Ltd. (SMA), a subsidiary of Macquarie Media Operations PTY Limited (MRN) and a leading Australian provider of in-store media solutions servicing more than 2,200 locations.

This agreement follows the acquisition of SBA Music PTY Ltd., the December 2015 acquisition of Digital Music Distribution PTY Ltd. (DMD), and the extension of the distribution agreement with local pay TV provider Foxtel, proving Stingray's commitment to solidifying its presence in the Asia-Pacific region.

Under the terms of the agreement, Stingray will fully own and operate SMA with the continued direction of the current leadership in place.

SMA Highlights

SMA is a B2B content provider of audio and visual solutions. The company's content team and technical experts provide clients with cutting edge solutions tailored specifically to their requirements.

  • Launched in 1996.
  • Wide range of clients across multiple industries - including hospitality, retail, health and fitness - in Australia and New Zealand.
  • Services include background music, digital signage, music videos, and more.

For more information: http://www.sma.net.au/

Quotes

"We are delighted to welcome SMA to the Stingray portfolio of in-store media services," said Eric Boyko, President, Co-founder, and CEO of Stingray. "Over the past few years, we have worked diligently to grow and solidify our Australian presence. This latest investment demonstrates our confidence in our future in the region. The SMA team has grown a fantastic business and I believe that together we can achieve great success and provide local clients with superior service."

About Stingray

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 4K, Stingray Karaoke, NatureVision TV, Yokee Music, Festival 4K, Stingray Loud, Stingray Juicebox, Stingray Vibe, Stingray Retro, 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 350 employees worldwide, including in the United States, the United Kingdom, the Netherlands, France, Israel, Australia, South Korea, and Singapore. Stingray was recognized in 2013 and 2014 as a finalist in the Top 50 of Deloitte's Technology Fast 50TM 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.

Contact Information

  • Mathieu Peloquin
    Senior Vice-President, Marketing and Communications
    Stingray
    1 514-664-1244, ext. 2362
    mpeloquin@stingray.com