Stingray Reports Fourth Quarter 2019 Results

SVOD revenues up 21.1% over last quarter

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Fourth Quarter Highlights

  • Revenues increased 112.5% to $72.7 million
  • Recurring Broadcasting and Commercial Music revenues of $34.5 million, an increase of 12.4%
  • Radio accounted for 46.8% of total revenues at $34.0 million
  • Overall organic growth of 4.6%, excluding non-recurring equipment and installation sales related to digital signage
  • Adjusted EBITDA up 90.7% to $22.4 million
  • Quarterly dividend of $0.065 per share

Full Year Highlights

  • Revenues increased 63.3% to $212.7 million
  • Recurring Broadcasting and Commercial Music revenues of $129.3 million, an increase of 15.7%
  • Radio accounted for 30.7% of total revenues at $65.2 million
  • Overall organic growth of 4.4%, excluding non-recurring equipment and installation sales related to digital signage
  • Adjusted EBITDA up 74.0% to $72.2 million
  • Annualized dividend increased 18.2% to $0.26 per share