Stingray Says TuneIn Acquisition Drives 65% Revenue Growth In Q1.

Montreal-based Stingray Group says its acquisition of TuneIn is continuing to reshape the company’s advertising business, helping drive significant revenue growth while creating new opportunities to sell audio inventory across platforms.

For the first quarter of fiscal 2027, Stingray reported revenue of CAD 158 million, up 65.2% year-over-year. Organic revenue growth was 27.5%, with the company attributing much of the increase to the TuneIn acquisition and growth in its FAST Channels business.

Stingray President, CEO and Co-founder Eric Boyko said the integration of TuneIn has been seamless, with the acquisition producing a spillover effect across the company’s broader advertising operations.

Revenue synergies from TuneIn have reached a CAD 45 million annualized run rate just nine months after the transaction, according to Boyko. He said Stingray expects the TuneIn and FAST Channels businesses to contribute to another year of double-digit organic revenue growth in fiscal 2027.

The company’s broadcasting and commercial music/streaming division generated CAD 126 million in revenue during the quarter, more than double the year-ago period. Adjusted EBITDA for the segment increased 75.7% to CAD 42.9 million, primarily driven by TuneIn.

The TuneIn contribution comes as Stingray continues to expand its ability to monetize audio both on and off its own platforms. Boyko said the company’s FAST Channels advertising network also benefited from its ability to resell unsold inventory from TV manufacturers, including audio advertising inventory tied to some major OEM partners.

While the TuneIn and FAST Channels businesses are driving growth, Stingray acknowledged that their margins remain below the company average.

Stingray’s Canadian radio business faced a tougher quarter. Radio revenue declined 6.5% year-over-year to CAD 32 million, primarily because of lower local and national airtime revenue. Digital sales provided a partial offset.

Radio adjusted EBITDA fell 15% to CAD 9.4 million, with the decline attributed to lower revenue and changes in sales mix that affected margins.

Boyko said the radio business is showing signs of recovery early in the second quarter, with radio sales currently pacing more than 5% above the comparable period. Canadian revenue overall declined 1.7% to CAD 48.7 million during the quarter, largely reflecting the radio decline.

The company is also continuing to expand its connected-car entertainment business. Boyko said Stingray is building on its partnership with Nissan, announced earlier this year, by deploying new in-car features including karaoke and audio services.

Stingray is also increasing its footprint with existing automotive manufacturers and expects to announce additional partnerships in the coming months.

“Our in-car entertainment segment continued to gain traction,” Boyko said, pointing to the continued deployment of new features and expansion with automakers.