Stingray Acquires Swiss-based iConcerts

Upon completion of the transaction, Stingray will be the world’s largest broadcaster of live music concerts on television, with access to the largest library of digital live music worldwide. The transaction is expected to add $5 million in annual revenues for Stingray.

With this transaction, Stingray firmly establishes a stronghold in the Asian market including distribution deals with CCTV in China, KT in Korea and StarHub in Singapore. IConcerts also has an important presence in Europe with providers Swisscom and Orange, and in Russia with Tricolor.

“Following the acquisitions completed over the last two quarters, the agreement with iConcerts further demonstrates our intent to provide our clients with the greatest variety of digital music products and services on the market,” said Eric Boyko, President, Co-founder and CEO of Stingray. “iConcerts’ live music concert library perfectly complements Stingray’s current offering (Stingray Concerts, Stingray Brava, and Stingray Djazz), allowing us to become the number one destination for exciting live performances on television.”

IConcerts was launched on June 21, 2006,and was operated by Transmedia Communication SA. iConcerts’ programming features the biggest stars of today and decades past and includes concerts, TV show, documentaries and interviews. Shareholders of Transmedia Communications AG include Swisscom Ventures, which has supported the growth of iConcerts since its creation. Transmedia Communications was awarded the CTI Start-up Label in 2006.

For more information about iConcerts: https://www3.iconcerts.com/

About 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 138 million Pay-TV subscribers (or households) in 128 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 250 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 50TM list, and figures amongst PROFIT magazine’s fastest-growing Canadian companies. 

(SK)