MONTREAL, July 05, 2021 (GLOBE NEWSWIRE) -- Stingray Group Inc. (TSX: RAY.A; RAY.B), a leading music, media, and technology company, today announced that it has acquired Calm Radio, the world’s largest online music streaming service focused on the wellness and relaxation markets. With this acquisition, Stingray grows its portfolio of curated music content, significantly increases its subscriber base and dives into the health and wellness industry.
Founded in 2009, Calm Radio delivers 500 free channels of relaxation, acoustic, classical, jazz, ambient and contemporary music and over 1,000 premium channels of calming sounds, sleep music, sleep sounds, sleep stories, guided meditations, and meditation music to wind-down. Each scenic video benefits from the musical and audio expertise of an individual programmer. Every relaxation channel is specifically curated around the three principal activities in listeners’ lives: work, study, and sleep.
Calm Radio Highlights
- Near seven million monthly listening hours
- Over one million unique monthly users
- Over 30,000 streaming subscribers
- 85% year-over-year growth
- 500 free channels of relaxation, classical and contemporary music
- Over 1,000 premium HD channels for meditation, sleep, audiobooks, podcasts, classical music, ambient, jazz, world music, pop, contemporary and nature sounds
- Available on over 20 platforms
- 4.6-star rating on Apple’s App Store
- “Best New Update” — Apple 2019
Calm Radio complements Stingray’s existing services, Stingray Music and Stingray Naturescape, thus opening the door to powerful content synergy opportunities and growth for the product line.
"We are delighted to welcome Calm Radio to the Stingray family and expect this strategic acquisition to deepen our presence worldwide with its premium life-enhancing and relaxing music offering," said Eric Boyko, President, Co-founder, and CEO of Stingray. "As the undisputed world-leading provider of music programming, Stingray can seamlessly integrate Calm Radio into our existing platforms, enabling us to distribute the content further and expand our reach globally."
“In Stingray, we have found a partner with global reach who shares our unique vision and drive to expand the reach of wellness and relaxation music programming, making the benefits of Calm Radio accessible to the broadest and most diverse audience possible,” said Eric Harry, Founder and CEO of Calm Radio. “We are confident that with Stingray’s cooperation, Calm Radio will expand its reach and provide music for a healthier lifestyle to enthusiasts around the globe.”
Stingray will wholly own and operate Calm Radio, under the continued leadership and direction of the Calm Radio’s current leadership team.
About Stingray
Montreal-based Stingray (TSX: RAY.A; RAY.B) is a leading global music, media, and technology company with over 1,000 employees worldwide. Stingray is a premium provider of curated direct-to-consumer and B2B services, including audio television channels, over 100 radio stations, SVOD content, 4K UHD television channels, FAST channels, karaoke products, digital signage, in-store music, and music apps, which have been downloaded over 160 million times. Stingray reaches 400 million subscribers (or users) in 160 countries. For more information: www.stingray.com
About Calm Radio
Calm Radio provides its users with music for a healthier lifestyle. They are the world’s largest provider of life-enhancing music with an emphasis on focus, relaxation, mindfulness and sleep music. Calm Radio was recognized as the 2019 “Industry Star” by the Los Angeles’ based Media Excellence Awards and Best New App Upgrade by Apple in 2019.
Calm Radio began in 2009, founded by streaming pioneer Eric Harry, also a multi-award winning composer. Eric realized there was in fact, no online presence for relaxation music, sleep music or classical music and thus the first Solo Piano channel was born. Since then, Calm Radio has grown into the largest provider of relaxing music on the internet and is poised to become the Spotify of the Wellness Market.
Calm Radio® is a registered trade-mark of Calm Radio Corp.
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, 2021, 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.
For more information, please contact:
Mathieu Péloquin
Senior Vice-President, Marketing and Communications
Stingray
mpeloquin@stingray.com
1 514 664-1244, ext 2362