Key Points
- Stingray will acquire TuneIn for up to $175 million, expanding its global reach in digital audio streaming and advertising.
- The deal adds TuneIn’s 75 million monthly users and 100,000 stations to Stingray’s portfolio.
- TuneIn will retain its brand post-acquisition, while integrating Stingray’s technology and distribution network to drive global growth.
TuneIn, a streaming audio and radio platform that offers access to hundreds of thousands of live music streams, is being acquired by Stingray Music in a deal valued at $175 million, The Desk has learned.
Under the terms of the agreement, Stingray will pay $150 million when the transaction closes and up to an additional $25 million within 12 months, contingent on performance targets.
Stingray, based in Canada, has secured a $150 million term loan under its renewed credit facility to finance the acquisition. The deal is expected to close by the end of 2025, pending TuneIn shareholder and regulatory approvals, the companies said on Tuesday.
TuneIn powers many of the live radio feeds available through smart speakers like those running Amazon’s Alexa assistant and the Google Assistant. It also offers its own smart TV, smartphone and tablet apps.
The platform has more than 75 million monthly active listeners and partnerships with more than 200 platforms and connected devices across 100 countries, including over 50 in-car audio systems. The company offers access to more than 100,000 radio stations, podcasts, music channels and audiobooks from all major U.S. radio broadcasters, podcast production studios and book publishers.
Stingray said the acquisition will accelerate its growth in streaming and advertising by integrating TuneIn’s ad platform, which delivers targeted audio, video, and display advertising solutions.
“This acquisition marks a pivotal moment in Stingray’s journey to further strengthen its position as a global leader in audio entertainment and digital advertising sales,” said Eric Boyko, the co-founder, President and CEO of Stingray. “We’re crafting an unmatched audio ecosystem by merging Stingray’s technology and content distribution with TuneIn’s advertising expertise and partnerships, particularly in the automotive sector.”
TuneIn CEO Richard Stern said Stingray was the “ideal partner” for the company’s next growth phase. Stern will join Stingray upon closure of the deal, he confirmed in a message to The Desk on Tuesday.
“Our global reach and advanced advertising capabilities, combined with Stingray’s audio and video distribution, create a significant growth opportunity for both companies,” he said.
Following the acquisition, TuneIn will continue to operate under its existing brand, the companies affirmed.
