Stingray Group has reported an “exceptional” start to its fiscal year 2026, highlighted by FAST (Free Ad-Supported Streaming TV) channel growth and a resurgence in the radio segment.
The company reported total revenues of $95.6 million for the first quarter, ended June 30, a 7.4% increase year-over-year. Consolidated adjusted EBITDA reached $33.7 million, a 35.2% margin.
Stingray’s Radio division was a standout in Q1, with revenue up 6.2% to $34.2 million, and adjusted EBITDA in the segment experiencing impressive growth of 11.2% to $11 million, driven by higher airtime and digital sales.
“The team delivered an exceptional quarter that we haven’t seen in many years,” noted President & CEO Eric Boyko, in an earnings call Wednesday morning. He acknowledged the bottom line boost resulting from the recent federal election and “Buy Canadian” fervour ignited by the U.S.-Canada trade war, which many advertisers have chosen to take advantage of.
“I don’t think we can expect that type of growth every quarter, but very happy and thank you to the radio team,” said Boyko.
FAST Channels and Retail Media
Stingray’s new premium advertising network for FAST channels also experienced continued growth. Launched in April, the network is already generating an annual run rate of $18 million at a 20% fill rate. Boyko expressed confidence in tripling that rate to 60%, projecting annual revenue potential of $54 million from the segment.
The company’s overall advertising business, across FAST channels and retail media, achieved 40% revenue growth in Q1, with similar targets for Q2. Retail media delivered a solid performance, though it was measured against a challenging comparable from the previous year.
The company’s strategy for FAST channel growth is focused on three pillars, including deepening partnerships with companies like Vizio, Samsung, and LG; securing new distribution deals, such as the recent launch of six channels on Roku; and maximizing ad inventory value through its advertising network.
Stingray has also acquired long-standing karaoke partner, Singing Machine Company, aiming to bolster its in-car and at-home karaoke offerings, leveraging Singing Machine’s hardware with Stingray’s extensive karaoke library. The acquisition is expected to generate $20 million in annual revenue.
Boyko shared the company’s forward-looking vision for in-car entertainment, telling the earnings call “Stingray management is very, very – I guess aggressive – and when we think the next five years, every car will have karaoke…your kids will be singing while you’re driving, so good luck.”
In another strategic move, Stingray introduced its music and ambient channels on Samsung’s VXT platform last month, a new content management solution (CMS) that allows businesses to create and distribute content and even control and monitor remotely their B2B screens, including digital menus, kiosks, and signage. The partnership will see Stingray’s content available on every commercial Samsung TV sold globally, creating a new subscription revenue stream.
In its outlook, Stingray said the company’s focus has shifted from large acquisitions to smaller, “tuck-in” deals, with a concentration on in-car entertainment and expanding its retail media network in the U.S., citing market uncertainty.
