Stingray Expands Concert Streaming Dominance with The Coda Collection Acquisition
MONTREAL, July 09, 2024 (GLOBE NEWSWIRE) — Stingray (TSX: RAY.A; RAY.B), a leader in music, video content distribution, business services, and advertising solutions, proudly announces the acquisition of The Coda Collection, a premier music-focused streaming platform. This strategic move solidifies Stingray’s position as the leading provider of concert streaming on the world’s most popular platforms.
Launched in February 2021, The Coda Collection is available exclusively on Prime Video Channels in the US and UK, with subscriptions priced at $4.99 and £3.99 per month, respectively. It spans various genres, showcasing iconic moments in music history through storytelling. The exclusive collection has included world-premiere films such as the Grammy-nominated Music, Money, Madness: Jimi Hendrix In Maui, together with acclaimed original productions such as Home Again: Carole King Live In Central Park and a curated library of legendary performances and documentaries. The Coda Collection has been the home for previously unseen archival footage from legendary artists such as Aretha Franklin, Muddy Waters, and Marvin Gaye, as well as exclusive concert performances from artists such as Marcus King and the Rolling Stones. Additionally, The Coda Collection offers rich editorial content on its desktop and mobile sites, providing new perspectives on artists, music, and cultural contexts.
“We are thrilled to welcome The Coda Collection to the Stingray family,” said Mathieu Péloquin, Senior Vice President, Marketing and Communications at Stingray. “This acquisition aligns perfectly with our strategy to enhance our portfolio of music streaming services and solidify our leadership in concert streaming on Amazon platforms. The Coda Collection’s unique content and editorial approach will complement our existing offerings and help us reach new audiences. Over the next few months, we will bring new and exciting content to subscribers of the Coda Collection”.
This acquisition marks a significant step in Stingray’s growth strategy, reinforcing its commitment to delivering unparalleled music experiences to audiences worldwide. The Coda Collection joins Stingray’s other popular streaming services, Qello Concerts, Stingray Karaoke, Stingray Classica, and Stingray DJAZZ.
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 global 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 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
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, 2024, 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.
CONTACT: For more information, please contact: Mathieu Péloquin Senior Vice-President, Marketing and Communications Stingray (514) 664-1244, ext. 2362 mpeloquin@stingray.com
