Stingray TuneIn acquisition

Montreal, where Stingray is based. Photo Credit: Fenil Patel

TuneIn officially has a new owner: Stingray Group, which is acquiring the live audio business in a deal worth up to $175 million.

Montreal-headquartered Stingray (RAY.A on the Toronto Stock Exchange) just recently confirmed the definitive purchase agreement, which has arrived about 11 months after the company scored a new credit facility and disclosed aggressive expansion plans.

Evidently, on the heels of plays for the self-described karaoke-space leader Singing Machine Company and retail-audio specialist DMI earlier in 2025, those plans led to San Francisco-based TuneIn. All told, the latter is said to boast north of 75 million MAUs across its radio, audiobook, and podcast offering.

As for price-tag particulars, Stingray, which secured a $150 million loan under the highlighted facility, is poised to pay that same amount upfront for TuneIn.

From there, with performance targets presumably a factor, it’ll then pay “up to US$25 million 12 months following the closing.” Still subject to approval on the part of the seller’s investors, the transaction is expected to wrap before 2025’s conclusion. Additionally, TuneIn’s “platform will continue to operate under its existing brand,” per the buyer.

When it comes to Stingray’s TuneIn plans, the music, media, and tech company intends to leverage the “comprehensive ad platform” at hand en route to unlocking streaming growth and bolstering its own advertising presence.

While time will reveal what the effort entails, the 18-year-old purchaser took the opportunity to emphasize “TuneIn’s robust partnerships with major device manufacturers, automotive companies, and content providers.”

On this front, August saw TuneIn add Apple Music’s radio stations – marking the first time said stations were made “available outside of” Apple’s “own native platform.” The following month, TuneIn inked a vehicle-integration pact with BYD Auto.

In a statement, Stingray co-founder, president, and CEO Eric Boyko touted the acquisition as “a pivotal moment in Stingray’s journey to further strengthen its position as a global leader in audio entertainment and digital advertising sales.”

“We are crafting an unmatched audio ecosystem by merging Stingray’s extensive technology infrastructure and content distribution capabilities with TuneIn’s expertise in monetization, advertising technology, and diverse content offerings,” Boyko proceeded.

“We’re particularly excited about expanding our reach in the automotive sector, where TuneIn and Stingray have both established strong integrations with leading manufacturers,” he continued.

Echoing the enthusiasm, TuneIn co-chairman and CEO Richard Stern noted the perceived “significant growth opportunity” at the intersection of his business’s “global reach and advanced advertising capabilities” as well as “Stingray’s audio and video distribution.”

Regarding the hard numbers behind that distribution reach, Stingray is said to deliver “digital audio messaging to more than 33,500 major retail locations” – 8,500 of which were added through the mentioned DMI purchase.

Outside of retail (and radio, where it operates over 100 Canadian stations), Stingray is apparently on a free ad-supported streaming television (FAST) tear. It brought six FAST channels to VIZIO’s WatchFree+ in July, another six channels to Roku in August, and 29 more channels yet to Fire TV that same month, besides expanding the Roku tie-up in October.

For July, August, and September 2025, Stingray today posted CA$80.9 million (currently $57.8 million) in broadcasting and commercial music revenue, up 32.8% YoY due largely to “higher FAST channel revenues.” Across-the-board revenue spiked 21% YoY to $80.9 million/CA$113.3 million, according to the report.