MONTREAL, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Stingray (TSX: RAY.A; RAY.B), an industry leader in music and video content distribution, business services, and advertising solutions, today announced the acquisition of Loupe Art, a leading visual art streaming service on Smart TVs and Digital Signage. This strategic acquisition aims to expand Stingray's presence on Connected TVs and significantly enhance its offering for businesses, particularly in digital signage.
Founded in 2016, Loupe Art's platform includes over 10,000 original artworks from more than 750 artists across 50 countries. It offers expertly curated art collections and themed episodes that combine visual art with music, providing an unparalleled ambient entertainment experience. Loupe Art reaches audiences worldwide through partnerships with major platforms such as Apple TV, Amazon, Google TV, Samsung, LG, Comcast, LocalNow, Freecast, WhaleTV+ and others.
The acquisition will enable Stingray to leverage Loupe's patented technology and extensive content catalog to enhance its FAST channels on Connected TVs. It will also bolster Stingray Business by integrating Loupe's tailored art displays into its digital signage solutions, offering businesses a flexible and customized visual experience across their locations.
"By integrating Loupe Art's groundbreaking platform with Stingray's extensive expertly curated music catalog and robust distribution network, we are poised to revolutionize the way art and music are experienced in homes and businesses worldwide," said Eric Boyko, President, Co-founder, and CEO of Stingray. "This acquisition not only broadens our content offerings but also strengthens our position as a leader in the digital media landscape."
"Joining forces with Stingray opens up exciting new possibilities for Loupe," said Michele Tobin, CEO of Loupe Art. "We are eager to expand the reach of our artists' work, bringing their creative expressions to a broader audience through Stingray's impressive distribution channels. Together, we look forward to transforming how art is experienced in everyday life, enriching public and private spaces alike. "
With this acquisition, Stingray continues to demonstrate its commitment to innovation and growth in the digital media sector. By combining Loupe Art's cutting-edge technology and rich artistic content with Stingray's extensive reach and expertise, the company is well-positioned to deliver enhanced value to its customers and partners globally. Stingray remains dedicated to providing exceptional entertainment experiences that seamlessly integrate art and music, enriching environments across both residential and commercial spaces.
About Stingray
Stingray (TSX: RAY.A; RAY.B), a global music, media, and technology company, is an industry leader in TV broadcasting, streaming, radio, business services, and advertising. Stingray provides an array of global music, digital, and advertising services to enterprise brands worldwide, including audio and video channels, over 100 radio stations, subscription video-on-demand content, FAST channels, karaoke products and music apps, and in-car and on-board infotainment content. Stingray Business, a division of Stingray, provides commercial solutions in music, in-store advertising solutions, digital signage, and AI-driven consumer insights and feedback. Stingray Advertising is North America's largest retail audio advertising network, delivering digital audio messaging to more than 30,000 major retail locations. Stingray has close to 1000 employees worldwide and reaches 540 million consumers in 160 countries. For more information, visit www.stingray.com.
About Loupe Art
Loupe Art is an innovative patented streaming art platform that transforms connected TVs and digital signage into customized art galleries. Loupe expertly curates original artworks from a wide range of diverse global artists to deliver unique, immersive art experiences. Loupe for Business offers Public Art solutions ranging from remotely programmable art streams that reflect mood, daypart, season, style, color and brand attributes to bespoke curation services for Real Estate, Workplace, Hospitality and Healthcare customers. Loupe Art is available to consumers in-home on Samsung TV Plus, Apple TV, Fire TV, Google TV, LG, Comcast, LocalNow, Freecast and WhaleTV+.
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, 2024, 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.
