Montreal multiplatform B2B music provider Stingray Digital Group Inc. has announced that the CRTC has renewed the broadcasting licence for its pay audio service, Stingray Music, through until August 31st, 2020.
Stingray Music is currently distributed to an estimated 10.5 million Canadian households through Pay-TV operators such as Shaw, Bell, Videotron, Cogeco, Rogers, and Telus. At least 35% of the music selections of Stingray's Canadian-produced channels consist of Canadian talent. Every month, more than 40% of Canadian cable subscribers listen to at least one Stingray Music channel.
Under the terms of the renewal, Stingray will contribute each year a minimum of 4% of the annual gross revenues earned by its pay audio programming undertaking to eligible third parties associated with Canadian content development allocated as follows:
— 25% to FACTOR;
— 25% to MUSICACTION,
— 5% to Community Radio Fund of Canada and;
— 45% to Stingray Music Rising Star to discover, encourage and promote new
"We are pleased with the CRTC's decision to renew our broadcast licence. Notwithstanding our international growth of the past years, Canada remains our home base and one of our major markets. In an industry that is in constant flux and evolution, our Pay-TV partners and their subscribers across the country can continue to count on Stingray to always provide the highest quality music products and services with an emphasis on local content. We wish to thank our partners in the music industry for their support throughout the renewal process," said Eric Boyko, President, CEO and Founder of Stingray.
Stingray is a leading business-to-business multi-platform music and in-store media solutions provider operating on a global scale, reaching an estimated 135 million Pay-TV subscribers (or households) in 127 countries. Geared towards individuals and businesses alike, Stingray's products include the following leading digital music and video services: Stingray Music, Stingray Concerts, Stingray Brava, Stingray Djazz, Stingray Music Videos, Stingray Lite TV, Stingray Ambiance and Stingray Karaoke. 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 over 235 employees across the world, including in Toronto, Miami, London, Amsterdam and Tel Aviv. 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.