Streaming aggregator TuneIn is being acquired by Stingray Group in a transaction valued up to $175 million. The agreement will see TuneIn, which will continue to operate under its existing brand, integrate its streaming and ad platform with Stingray’s distribution network.
Under the terms of the deal, Stingray will pay $150 million at closing and up to an additional $25 million within a year. The transaction, expected to close by the end of 2025, is subject to shareholder and regulatory approvals.
Headquartered in Montreal, Stingray Group owns more than 100 stations in major and regional markets through Stingray Radio, making it one of Canada’s largest commercial radio operators.
TuneIn reports more than 75 million monthly active listeners in over 100 countries, offering access to 100,000 radio stations, podcasts, and digital audio channels. Its platform spans more than 200 connected devices, including integrations with major automotive manufacturers, smart speakers, and mobile systems.
Stingray Group President, Co-founder, and CEO Eric Boyko said, “This acquisition marks a pivotal moment in Stingray’s journey to further strengthen its position as a global leader in audio entertainment and digital advertising sales. We are crafting an unmatched audio ecosystem by merging Stingray’s extensive technology infrastructure and content distribution capabilities with TuneIn’s expertise in monetization, advertising technology, and diverse content offerings.”
“We’re particularly excited about expanding our reach in the automotive sector, where TuneIn and Stingray have both established strong integrations with leading manufacturers. This aligns perfectly with our strategy to meet listeners wherever they are – at home, in the car, or at retail locations. Together, we are poised to redefine audio for a connected world, delivering extraordinary value to our listeners, content partners, and advertisers,” he added.
TuneIn Co-Chairman and CEO Richard Stern stated, “Stingray is the ideal partner to propel TuneIn’s next chapter of growth. Our global reach and advanced advertising capabilities, combined with Stingray’s audio and video distribution, creates a significant growth opportunity for both our companies. Joining forces with Stingray allows us to accelerate our mission of delivering the world’s best audio content to listeners everywhere, while creating powerful new avenues for advertisers to connect with a highly engaged audience.”
