Skip to main content

Erik Boyko, co-founder of Stingray Digital Group

Robert J. Galbraith

Stingray Digital, a Canadian music and broadcasting company that has been expanding rapidly around the world in the past two years, is expected to announce a major acquisition in Europe on Monday.

Montreal-based Stingray, known for its Galaxie TV channels that stream commercial-free music over cable TV in Canada and the United States, is buying Music Choice International, a company based in London.

Founded in 1993, Music Choice International is a similar service to Galaxie in Canada. The company operates 70 channels that stream various genres of music to more than 10 million subscribers in 16 countries across Europe and Africa, drawing revenue from cable companies who carry the service.

Story continues below advertisement

Stingray is expected to announce the deal at a conference in Cannes, France on Monday. Financial terms for the transaction are not being disclosed. The deal will expand Stingray's reach to 20 million subscribers across 27 countries.

"This acquisition is a perfect strategic fit for Stingray," company president Eric Boyko said. "Music Choice International's presence in 16 different countries will allow us to expand more quickly into Europe and Africa with our other music services that we have developed for the North American market."

Stingray, which is privately owned, began amassing digital content a few years ago including TV channels and music licences. In Canada, it purchased music channels from the Canadian Broadcasting Corp. and has signed distribution deals with cable subscribers around the world.

The company is also a major player in distributing instrumental versions of songs on TV and online for karaoke, and has amassed the world's largest catalogue of licenced karaoke songs for the Internet. Two years ago, Stingray signed an agreement with Google Inc. to supply karaoke songs online, and is one of the largest sellers of instrumental songs on Apple Inc.'s iTunes music store. Among the company's television assets are the Karaoke Channel and Concert TV.

Stingray Digital's financial backers include Telesystem and Novacap, two Montreal-based investment firms. The company has 135 employees, based in Montreal, Charlotte, North Carolina and Budapest, Hungary.

Report an error Editorial code of conduct
Comments

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • All comments will be reviewed by one or more moderators before being posted to the site. This should only take a few moments.
  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed. Commenters who repeatedly violate community guidelines may be suspended, causing them to temporarily lose their ability to engage with comments.

Read our community guidelines here

Discussion loading ...

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.
Cannabis pro newsletter