Stingray Group acquires assets of The Singing Machine C ompany

Stingray Group (STGYF) has acquired the assets of The Singing Machine Company. This acquisition builds on a successful long-term partnership between the two companies and solidifies Stingray’s position in the karaoke industry by integrating a beloved hardware brand into its extensive portfolio of multi-platform music services. The deal involves the acquisition of The Singing Machine’s global home karaoke business, including all associated intellectual property, customer, supplier contracts and inventory. A key focus will be the growth of innovative microphone solutions for the in-car entertainment market. For over four decades, The Singing Machine has been the premier provider of home karaoke systems, selling over tens of millions of karaoke machines and over 50 million microphones to date. The integration of its hardware with Stingray’s vast catalog of licensed karaoke tracks presents a unique opportunity to create a fully integrated, best-in-class karaoke experience for consumers. The acquisition expands Stingray’s karaoke footprint, which already includes the popular Stingray Karaoke app, a subscription service available on TV, web, mobile and in-car with the world’s largest licensed karaoke library.