MONTREAL, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Stingray (TSX: RAY.A; RAY.B), a leading music, media, and technology company, today announced its decision to immediately suspend all advertising of its products on Facebook and Instagram in Canada. This decision comes in response to Meta's recent actions regarding Canadian journalistic content on its platforms, in light of the Online News Act (Bill C-18) and in support of Canadian news media publishers.
Eric Boyko, CEO and Co-founder of Stingray, commented, "We believe in the importance of a diverse and vibrant media landscape that supports a healthy democracy. We cannot tolerate Meta's recent decision to block news from Canadian news media publishers and their potential implications for Canadian news content. As a result, we have decided to pause our advertising on Facebook and Instagram."
Stingray also calls on businesses, governments, and institutions to express their disagreement with Meta's affront to public policy and the news media through their advertising placement choices.
Stingray will continue to monitor the situation closely and will reassess its position as necessary in response to the evolving landscape.
About Stingray
Stingray (TSX: RAY.A; RAY.B), a global music, media, and technology company, is an industry leader in TV broadcasting, streaming, radio, business services, and advertising. Stingray provides an array of music, digital, and advertising services to enterprise brands worldwide, including audio and video channels, over 100 radio stations, subscription video-on-demand content, FAST channels, karaoke products and music apps, and in-car and on-board infotainment content. Stingray Business, a division of Stingray, provides commercial solutions in music, in-store advertising solutions, digital signage, and AI-driven consumer insights and feedback. Stingray Advertising is North America's largest retail audio advertising network, delivering digital audio messaging to more than 20,000 major retail locations. Stingray has close to 1000 employees worldwide and reaches 540 million consumers in 160 countries. For more information, visit www.stingray.com.
