Key Financial Data
- Q2 Total revenue: CA $158.0 million (U.S. $111.3 million, +65.2% year-over)
- Broadcasting and Commercial Music revenue: CA $126.0 million (U.S. $88.8 million, +105.2%)
- Radio revenue: CA $32.0 million (U.S. $22.5 million, -6.5%)
- Advertising revenue: CA $109.1 million (U.S. $76.8 million, +91.0%)
- Subscription revenue: CA $40.7 million (U.S. $28.7 million, +19.7%)
- Equipment and labor revenue: CA $8.2 million (U.S. $5.8 million, +81.9%)
- Canada revenue: CA $48.7 million (U.S. $34.3 million, -1.7%)
- United States revenue: CA $98.4 million (U.S. $69.3 million, +180.0%)
- Other countries revenue: CA $10.9 million (U.S. $7.7 million, -0.3%)
- Operating expenses: CA $111.4 million (U.S. $78.5 million, +69.2%)
- Read more media earnings coverage | Stingray coverage
Canadian audio and advertising company Stingray Group reported significantly higher revenue and adjusted earnings during its fiscal first quarter (Q1) of 2027, which coincides with the second three-month period of this year, as the company saw higher advertising revenue from its acquisition of TuneIn and the continued development of its free streaming TV businesses.
Revenue increased 65.2 percent to CA $158 million (U.S. $111.3 million) during the quarter ended June 30, up from CA $95.6 million (U.S. $67.4 million) a year earlier. Stingray said organic revenue growth within Broadcasting and Commercial Music reached 27.5 percent.
Advertising revenue nearly doubled to CA $109.1 million (U.S. $76.8 million) from CA $57.1 million (U.S. $40.2 million), benefiting significantly from TuneIn and higher sales from its free, ad-supported streaming TV (FAST) channels on various platforms. Subscription revenue increased nearly 20 percent to CA $40.7 million (U.S. $28.7 million).
In a statement on Monday, Stingray CEO Eric Boyko called TuneIn’s integration into the company “seamless,” with revenue synergies reaching an annualized run rate of CA $45 million (U.S. $31.7 million) only nine months after the transaction. TuneIn is best known as the engine behind live Internet radio feeds delivered to connected speakers and other devices, but it also has a standalone app that unlocks tens of thousands of linear audio streams on phones and tablets.
Stingray’s Premium Ad Network also continued to expand, with revenue rising nearly 70 percent. The business monetizes unsold advertising inventory from TV manufacturers, including audio advertising inventory for some device partners.
“We remain confident that our TuneIn and FAST channel businesses will contribute to another year of double-digit organic revenue growth in 2027,” Boyko said, adding that the company is hoping to see the same momentum behind its in-store advertising opportunities throughout the year.
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