Stingray Group has secured a CA$500 million ($353 million) revolving credit facility, expanding from its previous CA$420 million facility, with maturity set for 2028. The company has an additional option for CA$100 million ($71 million) in incremental commitments, potentially bringing the total to CA$600 million ($423 million).

The National Bank of Canada-led credit facility aims to support operations and M&A activities for the Montreal-based media company, which operates over 100 radio stations.

CEO Eric Boyko emphasized the company's growth strategy following their recent acquisition of The Coda Collection, stating the new financing enhances liquidity and provides flexibility for future market opportunities.

Key Financial Highlights:

• 53% year-over-year increase in U.S. revenue (approximately $23.2 million)
• U.S. operations now represent 35% of total quarterly revenue
• Growth driven by FAST channel revenues and digital signage sales
• Canadian market remains stable, contributing over half of total revenue

Recent Business Developments:

• Expansion of Stingray karaoke app to Vizio smart TVs in October
• Strong performance in FAST (Free Ad-Supported Streaming) channels
• Continued focus on strategic acquisitions and market expansion

The company's growth in the U.S. market and enhanced financial capabilities position Stingray for continued expansion in the digital media and streaming space, particularly in the growing FAST channel segment.

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