MONTREAL, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Stingray Group (TSX: RAY. A; RAY.B), an industry leader in music and video content distribution, business services, and advertising solutions, today announced it has acquired the assets of The Singing Machine Company, the worldwide leader in consumer karaoke products and hardware, cementing its leadership in the global karaoke market. This acquisition builds on a successful long-term partnership between the two companies and solidifies Stingray's position in the karaoke industry by integrating a beloved hardware brand into its extensive portfolio of multi-platform music services.
The deal involves the acquisition of The Singing Machine's global home karaoke business, including all associated intellectual property, customer, supplier contracts and inventory. A key focus will be the growth of innovative microphone solutions for the in-car entertainment market.
For over four decades, The Singing Machine has been the premier provider of home karaoke systems, selling over tens of millions of karaoke machines and over 50 million microphones to date. The integration of its hardware with Stingray's vast catalog of licensed karaoke tracks presents a unique opportunity to create a fully integrated, best-in-class karaoke experience for consumers.
"Having worked closely with The Singing Machine for years, we have always been impressed by their expertise and leadership in the consumer karaoke space," said Eric Boyko, President, Co-founder, and CEO of Stingray. "This acquisition is a natural evolution of our partnership. By combining their renowned hardware with our extensive karaoke library and global distribution network, we will enhance the at-home and in-car karaoke experience for millions of fans. We see tremendous potential in developing new microphone technologies, especially for the expanding in-car entertainment market, creating exciting new opportunities for growth."
"Singing Machine is the #1 global brand in home karaoke for over 40 years, and I'm proud of the legacy we've built," said Gary Atkinson CEO of The Singing Machine Company. "With Stingray's deep expertise in music content, global partnerships, and digital innovation, I'm confident that under Stingray's leadership, the brand will continue to thrive and dominate the karaoke hardware market for many more decades to come."
The acquisition expands Stingray's karaoke footprint, which already includes the popular Stingray Karaoke app, a subscription service available on TV, web, mobile and in-car with the world's largest licensed karaoke library.
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, 97 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 30,000 major retail locations. Stingray has close to 1,000 employees worldwide and reaches 540 million consumers in 160 countries. For more information, visit www.stingray.com.
About Singing Machine
Singing Machine is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, the Company designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Their portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world's first globally available, fully integrated in-car karaoke system. Their products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam's Club, Target, and Walmart. To learn more, go to www.singingmachine.com.
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities law. Such forward-looking information includes, but is not limited to, information with respect to Stingray's goals, beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking information is identified by the use of terms and phrases such as "may", "would", "should", "could", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", and "continue", or the negative of these terms and similar terminology, including references to assumptions. Please note, however, that not all forward-looking information contains these terms and phrases. Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Stingray's control. These risks and uncertainties could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors identified in Stingray's Annual Information Form for the year ended March 31, 2025, which is available on SEDAR at www.sedar.com. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that Stingray anticipates will be realized or, even if substantially realized, that they will have the expected consequences or effects on Stingray's business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and Stingray does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
