The privately held Canadian media company Stingray Digital Group just announced a strategic partnership with Singapore-based media company Multi Channels Asia.
The pact will give the Canadian music provider an expanded foothold in the Asian region in exchange for growth capital over a multi-year term.
“We are proud to partner with Multi Channels Asia,” said Eric Boyko, President, co-founder and CEO of Stingray.
“We have had the pleasure of working with them over the past year and the experience has confirmed that MCA is at the top of its field with a comprehensive product portfolio and expert knowledge of regional and local television ecosystems. We believe that MCA is a perfect fit for our expansion plans in Asia. This alliance opens up exciting opportunities for Stingray to rapidly reach new markets.”
Gregg Creevey, Managing Director, Multi Channels Asia said:
“We are delighted to partner with Stingray Digital. They are a great partner for us since their exciting digital music portfolio has massive appeal and complements our existing line-up of channels and digital properties. Thanks to the terrific technology underpinning their products, their relationships within the industry and their digital know-how, we are looking to quickly expand MCA’s digital-first initiatives region-wide.”
Stingray plans on opening an office in Singapore to learn more about the market, which has approximately 500 million TV subscribers.
The partnership represents the latest move global move for the company. Stingray is a leading business-to-business multi-platform music and in-store media solutions provider operating on a global scale, reaching an estimated 135 million Pay-TV subscribers (or households) in 127 countries.
Multi Channels Asia (MCA) is a Singapore-based media company, which owns, represents and distributes a number of thematic Pay TV networks serving Asia and the Pacific.