Stingray Group, a Canadian media and technology company, has reached an agreement to acquire TuneIn, a popular global audio streaming service. The deal is valued at up to US$175 million (€151m). The initial payment will be $150 million, with a potential additional $25 million payable within 12 months, contingent on certain performance metrics.
Stingray operates a diverse network of music, digital, and advertising services, including audio and video channels, 97 radio stations, subscription video-on-demand content, FAST channels, karaoke products, music apps, and in-car infotainment. The acquisition is expected to significantly bolster Stingray's presence in the connected-device and in-car entertainment sectors.
TuneIn boasts 75 million monthly active listeners across more than 200 platforms in over 100 countries. However, the company has faced challenges in recent years, including a reduced focus on podcasting, staffing reductions, and licensing issues. "TuneIn has been through a period of retrenchment, including a step back from podcasting, several rounds of staff reductions and ongoing rights and licensing challenges in key markets, after a long fundraising history that saw the company raise roughly US$100 million and be valued at around US$500 million in 2017."
Several major broadcasters have also adjusted their relationships with TuneIn. The BBC, for example, withdrew its live UK radio streams in September 2019 to promote BBC Sounds and enforce stricter data-sharing policies; although BBC podcasts remained available. "The BBC withdrew its live UK radio streams from TuneIn in September 2019 as it shifted listening to BBC Sounds and tightened data-sharing requirements; BBC podcasts remained available on the platform." Similarly, Radio France removed its live streams in 2024 in favor of their own apps and direct integrations. Elsewhere, Radio France removed its live streams from TuneIn in 2024 in favour of first-party apps and direct integrations.
In the UK, copyright regulations led TuneIn to restrict access to many overseas stations for UK users starting in September 2020, with periodic removals as music-licensing negotiations continued.