Montreal-based music and video content distribution, business services, and advertising solutions company Stingray has acquired DMI, a U.S. based leader in music branding and in-store audio advertising.
This strategic acquisition expands Stingray’s retail media network by approximately 8,500 locations in the U.S., bringing the total to 33,500 locations and solidifying its position as a key player in the industry.
The acquisition incorporates DMI’s client portfolio, including a large national pharmacy chain. Stingray’s network now covers the two largest pharmacy chains in the country, including other existing large pharmacy retailers.
“I am thrilled to continue DMI’s journey as part of the Stingray family,” says Tena Clark, CEO of DMI. “Remaining on board allows us to leverage Stingray’s immense resources and expertise. I am excited to work with the team to bring even greater value and innovation to our clients.”
“This acquisition marks a pivotal moment for Stingray Advertising’s growth in the United States,” adds Eric Boyko, President, Co-founder, and CEO of Stingray. “By welcoming DMI to Stingray, we are not only expanding our retail media network by 8,500 locations but also cementing our leadership position in the U.S. in-store audio advertising market. DMI’s expertise, impressive client portfolio, and creative spirit are a perfect complement to our existing offerings. We are now the undisputed leader in the pharmacy audio advertising space, offering unparalleled reach and value to our clients.”
In addition to its core in-store music and advertising services, DMI’s business includes advertising in cinemas, brand marketing support, and event production. These additional units will further enhance Stingray’s comprehensive suite of services for brands and businesses.