With Acquisition of InStore Audio Network, Stingray is All Set to Expand its Network
Stringray acquired InStore Audio Network in order to considerably extend its footprint in the United States and become North America's largest in-store music and audio advertising network.
Fremont, CA: “This acquisition by Stingray fortifies a partnership that will provide significant value to our current retail partners and advertisers,” States Gary Seem, President of InStore Audio Network. Stingray Group Inc. has acquired InStore Audio Network, the largest in-store audio advertising network in the United States, reaching 100 million shoppers each week in over 16,000 grocery retailers and pharmacies across the United States, subject to a specific earn out mechanism set forth in the purchase agreement. Stingray strengthens its position as a leading global provider of cutting-edge digital media solutions by expanding its retail-based digital audio advertising footprint in the United States. Last year, InStore Audio Network made an estimated C$18.5 million in revenue.
InStore Audio Network will continue to expand its existing retail media offering under Stingray's ownership, with an emphasis on verified audience measurement, digital ad serving, and programmatic monetization. Stingray's technology and digital media skills, along with InStore Audio Network's track record of success, will help to speed up total network expansion.
Through custom-curated streaming music services, the InStore Audio Network enables the monetization and delivery of highly targeted digital audio advertising at the location level. CVS, Rite Aid, Albertsons, Safeway, Southeastern Grocers, Ahold, Tops Markets, Weis Market, and Brookshires are among the supermarket and pharmacy retailers who use InStore Audio Network's retail media solutions, which have proved to increase sales for advertisers.
“We look forward to expanding our offerings as the importance of retail media and the ability to reach shoppers directly at the point-of-purchase continues to grow.” adds Gary Seem.