Music Choice Europe sold
April 5, 2011
From Chris Forrester @ MIP
Music Choice Europe (MCE) is being bought by Montreal-based Stingray Digital. MCE currently has some 10 million subscribers listening to more than 70 commercial free audio services. Stingray Digital is a privately-held business, established in 2007 by Eric Bioyko and Alexandre Taillefer. In August last year it bought Concert TV, an interactive VOD service. Terms were not disclosed. The deal was announced at MIPtv in Cannes.
Stingray Digital says the acquisition will create a true global music broadcaster that serves a digital music service to more than 20 million subscribers in more than 30 countries across Europe, Africa, North America, South America, the Caribbean and beyond. Stingray Digital owns and operates the Galaxie Music service which is available on cable TV, IPTV and satellite TV. It is also looking at mobile propositions.
“This acquisition is a perfect strategic fit for Stingray” stated Eric Boyko, President/CEO of the provider of music services to multi-channel operator. “We will immediately benefit from synergies between the two companies, but more importantly, Music Choice Europe’s presence in 17 different countries will allow us to expand more quickly into Europe and Africa with our other music services that we have developed for the North American market including The Karaoke Channel and Concert TV” he added.
“Music Choice has been actively growing its subscriber base and geographic reach over the past several years”, added Mark Wilson, President/MCE. “Now as part of the Stingray Digital group of companies, Music Choice will be able to continue its growth by providing a greater variety of music-related services to current and future customers,” he added.
MCE has struggled to make a financial headway. In June last year BSkyB dropped MCE from its line-up