Stingray Grows Its Offering of Live Music Concerts

MONTREAL: Stingray Digital Group, which offers business-to-business multiplatform music and in-store media solutions for companies and individuals alike, has acquired Swiss-based iConcerts, a TV channel dedicated to live music.

After the transaction is completed, Stingray will become the largest broadcaster of live-music concerts on TV, with access to an extensive library of digital live music worldwide. The acquisition is estimated to add $5 million in annual revenues for Stingray. iConcerts is currently distributed to more than 100 pay-TV and OTT operators in 85 countries and is available in approximately 250 million households across Europe, Asia, Africa and the Middle East. iConcerts also has a presence in Europe with providers Swisscom and Orange, and with Tricolor in Russia. Through the transaction, Stingray will have distribution deals with CCTV in China, KT in Korea and StarHub in Singapore, extending its reach in Asia.

“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, the president, co-founder and CEO of Stingray. “iConcerts’s 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.”