Stingray acquires DMI Music & Media Networks

Executive Summary

• Stingray Group Inc. has completed the acquisition of DMI Music & Media Networks, a U.S.-based leader in music branding and in-store audio advertising.
• The transaction adds approximately 8,500 new locations to Stingray’s U.S. retail media network, bringing the total network size to 33,500 locations.
• The acquisition establishes Stingray as the dominant player in the U.S. pharmacy sector for in-store audio advertising, incorporating DMI’s prestigious client portfolio, including major national pharmacy chains.

Key Details

• Transaction Structure: Acquisition of DMI Music & Media Networks by Stingray Group Inc.
• Network Expansion: Addition of 8,500 locations to the U.S. in-store audio advertising network.
• Total Network Size: The acquisition brings Stingray’s total U.S. in-store audio advertising network to 33,500 locations.
• Market Positioning: Stingray is now the definitive leader in in-store audio advertising for the U.S. pharmacy sector, covering the two largest pharmacy chains in the country.
• DMI Client Portfolio: Includes a large national pharmacy chain and other existing large pharmacy retailers.
• DMI Service Scope: Beyond core in-store music and advertising, DMI’s business includes advertising in cinemas, brand marketing support, and event production.
• Leadership Continuity: DMI founder and CEO Tena Clark remains on board to leverage Stingray’s resources and expertise.

Notable Quotes

• Tena Clark, Founder and CEO of DMI: "I am thrilled to continue DMI's journey as part of the Stingray family... 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."
• Eric Boyko, President, Co-founder and CEO of Stingray: "This acquisition marks a pivotal moment for Stingray Advertising's growth in the United States... We are now the undisputed leader in the pharmacy audio advertising space, offering unparalleled reach and value to our clients."