Stingray Group has officially acquired the internet radio service TuneIn in a deal valued at $175 million. The transaction structure includes an initial payment of $150 million at closing, with an additional $25 million contingent payment due one year later. Stingray confirmed that the acquisition is being financed through its renewed credit facility.
A Strategic Shift in the Streaming Landscape
Founded in 2002, TuneIn established itself as a pioneer in online audio by focusing on streaming traditional radio stations rather than the on-demand music model popularized by competitors like Spotify or Apple Music. This approach enabled the platform to distribute a diverse array of live content, including news, talk radio, and sports.
Despite its early momentum and a previous valuation that reached $500 million, TuneIn faced significant headwinds as the streaming market matured. A shift in consumer behavior—marked by the rise of podcasts and a growing preference for ad-free, subscription-based music—made it increasingly difficult for the platform to maintain its competitive edge.
Expanding Global Reach
For Montreal-based Stingray, the acquisition is a strategic move to scale its footprint in the music technology and advertising sectors. The company aims to leverage TuneIn’s massive distribution network, which currently spans over 100 countries.
Key Performance Metrics:
- Global Audience: More than 75 million monthly active listeners.
- Platform Integration: Available on over 200 platforms and connected devices.
- Automotive Presence: Integrated into more than 50 in-car audio systems.
Financial Outlook Post-Acquisition
The $175 million valuation is rooted in TuneIn’s financial projections for the 12-month period ending December 31, 2025, which include forecasted sales of $110 million and an adjusted EBITDA of $30 million. Stingray anticipates that integrating the service will propel its total revenue beyond the $400 million mark.
Stingray has confirmed that the TuneIn brand will remain intact following the close of the deal. By combining TuneIn’s reach with its existing radio assets and advertising infrastructure, Stingray seeks to solidify its position as a dominant player in the global audio market.