Stingray commercial services division, Stingray Business, has signed an agreement with California-based Space Factory Media to represent Stingray products and services for in-store music, digital experiences and AI-driven consumer insights for brands and businesses.
Stingray Business already provides licensed background music and digital display in 125,000 commercial locations globally. The company says the new partnership will help support Stingray Business’ reach into the U.S. market and provide a deeper, cross-platform offering.
Space Factory will deliver business planning, market development, strategic sales, and mergers & acquisitions support to aid Stingray’s entry into the commercial background music and in-store media business in the U.S. The deal also includes representation of Toronto’s Chatter Research, acquired by Stingray earlier this year, which uses proprietary AI-driven customer insight solutions to collect customer feedback and other data.
Stingray says it will now be able to offer “a unified brand experience” to customers encompassing music, digital signage, mobile engagement, and customer data/insights.
“We strongly believe in the continued growth of our commercial music services and are thrilled to be working with Space Factory to allow brands to better connect with their consumers,” said Eric Boyko, President, Co-founder and CEO of Stingray, said in a release. “Our next phase of expansion in the United States solidifies our position as a global leading music provider for businesses while making way for innovative, data-driven solutions.”
“My partner Walt Tatum and I founded Space Factory with a vision to be a key part of reinventing the branded music media industry,” added John Crooke, Co-Founder and Chief Media Officer for Space Factory. “We sought a partner who shared our commitment to bringing a multi-dimensional solution to enterprise brands inclusive of music, content, media, technology, mobile, and data/insights—all working together ubiquitously across the commercial and consumer space. It was clear that Stingray not only shared our vision but had built the integrated business and solutions to back it up. We couldn’t be more excited about our strategic partnership and what we will accomplish together.”
The deal also includes an option for Stingray to acquire Space Factory Media at a pre-determined purchase price.
Subscribe Now – Free!
Broadcast Dialogue has been required reading in the Canadian broadcast media for 25 years. When you subscribe, you join a community of connected professionals from media and broadcast related sectors from across the country.
The Weekly Briefing from Broadcast Dialogue is delivered exclusively to subscribers by email every Thursday. It’s your link to critical industry news, timely people moves, and excellent career advancement opportunities.
Let’s get started right now.
