A Canadian Music Streaming Company That's Global...and Profitable

Montreal-based Stingray Digital Group is positioning itself in the mobile music sphere with a new iteration of its app that will almost triple the number of music channels available to users to 3,000.

Spotify, Tidal and Apple are the most recent arrivals to the group, which already included Google Play Music, Songza, Rdio, and Deezer.

Stingray hopes to squeeze into the market by pairing its non-interactive streaming service with telecom companies who will sell the subscription as part of a bundle of wireless add-ons for $9.99 per month.

The mobile roll-out is part of the company’s strategy to continue adding value to its existing low-cost, continuous music streaming service on pay-TV in Canada and around the world, with an estimated 110 million household subscribers. CEO Eric Boyko tells the Globe & Mail that the company is currently in talks with telecom service providers in Canada, the US and Latin America regarding potential deals for its mobile app.

The company recently concluded an IPO that netted $94.8 million. The service has approximately 110 million household subscribers around the world.

You can read an interview with Eric Boyko here

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