Press releasesAugust 18, 2015
Stingray Digital Group Inc. (TSX: RAY. A; RAY B.), a leading business-to-business multiplatform music provider, today announced that the Canadian Radio-television and Telecommunications Commission (CRTC) issued a decision renewing until August 31st, 2020 the broadcasting licence of its national pay audio service, Stingray Music.
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:
“We are pleased by 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.
*Quarterly Vision Critical surveys, Canadian population 18+