Music and video content distribution company Stingray Group has acquired the assets of The Singing Machine Company, a leader in consumer karaoke products and hardware.
The acquisition, says Stingray, builds on a successful long-term partnership between the two companies and solidifies Stingray’s position in the karaoke industry by integrating a beloved hardware brand into its extensive portfolio of multi-platform music services.
The deal involves the acquisition of The Singing Machine’s global home karaoke business, including all associated intellectual property, customer, supplier contracts, and inventory. A key focus will be the growth of innovative microphone solutions for the in-car entertainment market.
For over four decades, The Singing Machine has provided home karaoke systems, selling over tens of millions of karaoke machines and over 50 million microphones to date. The integration of its hardware with Stingray’s catalog of licensed karaoke tracks presents a unique opportunity to for consumers, says the Montreal-based company.
“Having worked closely with The Singing Machine for years, we have always been impressed by their expertise and leadership in the consumer karaoke space,” says Eric Boyko, President, Co-founder, and CEO of Stingray. “This acquisition is a natural evolution of our partnership. By combining their renowned hardware with our extensive karaoke library and global distribution network, we will enhance the at-home and in-car karaoke experience for millions of fans. We see tremendous potential in developing new microphone technologies, especially for the expanding in-car entertainment market, creating exciting new opportunities for growth.”
“Singing Machine is the number-one global brand in home karaoke for over 40 years, and I’m proud of the legacy we’ve built,” adds Gary Atkinson CEO of The Singing Machine Company. “With Stingray’s deep expertise in music content, global partnerships, and digital innovation, I’m confident that under Stingray’s leadership, the brand will continue to thrive and dominate the karaoke hardware market for many more decades to come.”
The acquisition expands Stingray’s karaoke footprint, which already includes the popular Stingray Karaoke app, a subscription service available on TV, web, mobile and in-car with a large licensed karaoke library.