Contemporary commercial music

Stingray Reports Second Quarter Results for Fiscal 2024

Retrieved on: 
Tuesday, November 7, 2023
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Reporting on second quarter results for fiscal 2024, Stingray's President, co-founder and CEO Eric Boyko stated:

Key Points: 
  • Reporting on second quarter results for fiscal 2024, Stingray's President, co-founder and CEO Eric Boyko stated:
    “Stingray delivered solid second quarter results with organic growth of 7.1% year-over-year in Broadcast and Recurring Commercial Music revenues, resulting in Adjusted EBITDA of $29.5 million or an increase of 9.2% compared to last year.
  • In terms of free ad-supported streaming TV (FAST), 18 new Stingray channels appeared on Samsung TV Plus in the U.S. last month.
  • Revenues increased $4.9 million, or 6.3%, to $82.5 million in Q2 2024 from $77.6 million in Q2 2023.
  • For the quarter, revenues in Canada rose $1.2 million, or 2.5%, to $48.4 million from $47.2 million in Q2 2023.

Stingray Reports First Quarter Results for Fiscal 2024

Retrieved on: 
Tuesday, August 8, 2023
Prevention of the Avoidance of Income Tax Act, Debt, Collaboration, Tax, Interest, Republic of Ireland, Karaoke, Annual general meeting, App, Digital, Stingray Djazz, News, Television, AirPlay, SSP, Sky Living, Policy, Stingray, BYD, Growth, OEM, Contemporary commercial music, Stingray Music, Ireland, FAST, Real Canadian Superstore, Stingray Classica, Toshiba, Income Tax Act, Media, Hisense, Partnership, Stingray CMusic, OS, EBITDA, Corporation, United Kingdom, YouTube TV, SVOD, Music, Marketing, Security (finance), Cryptocurrency, Video game, Holding company, Online shopping, Advertising, Radio, Loblaw Companies, Audi

Reporting on first quarter results, Stingray's President, co-founder and CEO Eric Boyko stated:

Key Points: 
  • Reporting on first quarter results, Stingray's President, co-founder and CEO Eric Boyko stated:
    “In the first quarter of 2024, we delivered robust adjusted EBITDA of $28.3 million, representing 35.8% of sales, thanks to cost-saving initiatives implemented over the past year.
  • Revenues increased $0.9 million, or 1.1%, to $79.0 million in Q1 2024 from $78.1 million in Q1 2023.
  • Revenues in Other countries improved $0.2 million, or 2.1%, to $12.6 million in Q1 2024 from $12.4 million in Q1 2023.
  • On June 28, 2023, the Corporation announced the launch of free ad-supported TV channels (FAST channels) Stingray Music, Stingray Naturescape, Qello Concerts, Stingray Karaoke, Stingray Classica, Stingray DJAZZ and Stingray CMusic on VIDAA, the leading smart TV OS powering Hisense, Toshiba, and other leading regional OEM brands.

Stingray Reports Fourth Quarter and Full Year Results for Fiscal 2023

Retrieved on: 
Tuesday, June 6, 2023
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MONTREAL, June 06, 2023 (GLOBE NEWSWIRE) -- Stingray Group Inc. (TSX: RAY.A; RAY.B) (the “Corporation”; “Stingray”), a leading distributor of audio and video music brands in the world, today announced its financial results for the fourth quarter and fiscal year ended March 31, 2023.

Key Points: 
  • Revenues in the fourth quarter increased $6.3 million, or 8.7%, to $78.9 million from $72.6 million in the fourth quarter of 2022.
  • Broadcasting and Commercial Music revenues in the fourth quarter of 2023 increased $4.4 million, or 9.8%, to $50.0 million from $45.6 million in the fourth quarter of 2022.
  • Adjusted EBITDA in the fourth quarter of 2023 increased $5.6 million, or 26.4%, to $26.6 million from $21.0 million in the fourth quarter of 2022.
  • Cash flow generated from operating activities amounted to $27.6 million in the fourth quarter of 2023 compared to $22.1 million in the fourth quarter of 2022.

Stingray Reports Second Quarter Results for Fiscal 2023 with good momentum in Stingray Advertising

Retrieved on: 
Tuesday, November 8, 2022
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Based on ongoing revenue momentum and cost control measures, we are confident about sustaining a 35% Adjusted EBITDA margin by the year-end.

Key Points: 
  • Based on ongoing revenue momentum and cost control measures, we are confident about sustaining a 35% Adjusted EBITDA margin by the year-end.
  • Broadcasting and Commercial Music revenues improved 17.0% year-over-year to $44.9 million in the second quarter of 2023 mainly due to the InStore Audio Network acquisition that closed in early January.
  • Radio revenues, meanwhile, edged up 1.3% to $32.7 million in the quarter, benefiting from a gradual return to normal commercial operations post-COVID.
  • For the quarter, revenues in Canada improved 1.2% to $47.2 million from $46.7 million in the same period in 2022.

Stingray Reports Third Quarter 2022 Results

Retrieved on: 
Tuesday, February 8, 2022
Policy, Growth, SVOD, Terminology, InStore Audio Network, Sale, Corporation, Amazon Echo Show, EBITDA, Risk, Fire, United Kingdom, Motion, CTV, Phrase, UHD, Income tax, Public expenditure, Traction, B2B, SOCAN, Pharmacy, Method, Music, Net, Acquisition, News, SEDAR, International Financial Reporting Standards, Depreciation, Comparison, Dollarama, Technology, Advertising, Broadcasting, FAST, TSX, Interest, Contemporary commercial music, COVID-19, Income, Board, Investment, IFRS, Tax, International, Â, Tutoring, Life insurance, Bank, Video game, Television, Video game console, Pharmaceutical industry, Cryptocurrency, Holding company, Kapang railway halt, Stingray, Radio, Director, Adjustment

During the third quarter of 2022, Broadcasting and Commercial Music revenues grew by 2.3% to $41.1 million mostly due to higher advertising revenues.

Key Points: 
  • During the third quarter of 2022, Broadcasting and Commercial Music revenues grew by 2.3% to $41.1 million mostly due to higher advertising revenues.
  • For the third quarter of 2022, revenues in Canada grew $2.0 million, or 4.2%, to $49.4 million from $47.4million for Q3 2021.
  • Adjusted free cash flow(4) generated in Q3 2022 reached $14.7 million in Q3 2022 compared to $19.6 million for Q3 2021.
  • The dividend will be payable on or around March 15, 2022, to shareholders on record as of February 28, 2022.

Stingray Reports Second Quarter 2022 Results

Retrieved on: 
Tuesday, November 9, 2021
Net, Toronto Stock Exchange, Tax, News, FX, International Financial Reporting Standards, Music, Health, Debt, Method, Broadcasting, International, Stingray Djazz, Terminology, UHD, SEDAR, Risk, Income, Investment, Growth, Contemporary commercial music, Depreciation, COVID-19, IFRS, Phrase, Advertising, Stingray Naturescape, Comparison, Policy, FAST, EBITDA, Stingray Classica, TSX, Public expenditure, Board, Acquisition, B2B, The Singing Machine Company, Interest, Corporation, SVOD, CEWS, Bank, Bookkeeping, Pharmaceutical industry, Reinsurance, Security (finance), Holding company

MONTREAL, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Stingray Group Inc. (TSX: RAY.A; RAY.B) (the “Corporation”; “Stingray”), a leading distributor of audio and video music brands in the world, today announced its financial results for the second quarter of Fiscal 2022, ended September 30, 2021.

Key Points: 
  • Radio revenues improved 28.6% year-over-year to $32.3 million as the Canadian economy reopened during the quarter at varying degrees provincially.
  • Revenues in Q2 2022 rose $7.1 million or 11.1% to $71.4 million, from $64.3 million for Q2 2021.
  • For the quarter, revenues in Canada increased $7.0 million or 17.6% to $46.7 million, from $39.7million for Q2 2021.
  • Starting today, Prime members now have access to the Stingray All Good Vibes subscription which includes Qello Concerts by Stingray, Stingray Karaoke, Stingray Classica, Stingray DJAZZ, and Stingray Naturescape.