Stingray Group Inc. has revealed its definitive agreement to acquire TuneIn Holdings, Inc., a key player in live audio streaming and advertising, in a deal valued at up to $175 million. TuneIn boasts a significant presence in the audio streaming market, catering to over 75 million monthly active listeners globally with access to a wide range of content including radio stations, podcasts, music channels, news, sports, and audiobooks.

The acquisition, based on TuneIn’s projected sales of $110 million and adjusted EBITDA of $30 million for the twelve-month period ending December 31, 2025, will see Stingray pay $150 million upfront and up to $25 million a year after the deal closes. To fund the transaction, Stingray has secured a $150 million term loan under its credit facility.

By joining forces, Stingray and TuneIn aim to expand their global digital audio footprint, enhance streaming services, and strengthen advertising offerings. The deal will enable TuneIn to leverage Stingray’s video distribution and advertising platforms to bolster its video expansion plans and advertising capabilities.

Stingray, known for its music, digital, and advertising services, will benefit from TuneIn’s ad platform, enriching its advertising solutions with targeted audio, video, and display ads. The acquisition will also combine Stingray’s premium content with TuneIn’s partnerships with major device manufacturers, automotive companies, and content providers.

Eric Boyko, Stingray’s President and CEO, expressed excitement about the acquisition, emphasizing the strategic alignment between the two companies in reaching audiences across various platforms. The combined entity’s pro forma revenue is expected to exceed $400 million (CA$560 million) post-acquisition.

Richard Stern, TuneIn’s Co-Chairman and CEO, highlighted the growth potential of the partnership, emphasizing the opportunity to deliver top-notch audio content globally and provide advertisers with new avenues to engage with a highly involved audience.

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