- The program will support access to radio advertising grants for local Canadian businesses in all sectors
Montreal, May 7, 2020 – Stingray (TSX: RAY.A; RAY.B), a leading music, media, and technology company, will do its part to kick-start Canada’s economic recovery and is proud to announce the establishment of an economic stimulus plan via its 104 radio stations across the country to help local businesses obtain grants in the form of radio advertising during this unprecedented crisis.
Through this program, Stingray will provide a minimum of $15 million in radio advertising grants to local businesses in markets across Canada where Stingray operates local radio stations. Stimulant grants will range from a minimum of $1000 up to a maximum of $100,000 in radio advertising per business. The recipient business will have twelve months to utilize the radio advertising grant provided towards booking and airing a radio advertising campaign and will not be required to invest additional sums with Stingray radio stations to receive the grant.
“Radio advertising has long been a successful stimulus for local economic activity in our country,” said Ian Lurie, President, Stingray Radio. “We are delighted to support local businesses lacking the capital resources to invest in advertising to effectively relaunch their business. The Stingray Stimulus Program is our way of helping to kick-start Canada’s economic engine for local business.”
As of today, local businesses in Stingray radio markets can apply for the grant at www.stingraystimulus.com. Grants will be determined and approved by the local Stingray radio management team based on their determination and weighting of relevant objective factors, including: immediate economic need, COVID-19 impact, social need, community benefit, and long term (macro-economic) benefit.
For the purposes of the Stingray Stimulus Plan, local Canadian business is defined as any registered Canadian business, not for profit organization or charity that operates within 100 km of the designated municipality in which the applicable Stingray radio operation is located. Visit www.stingraystimulus.com for more information or call your local sales representative today.
Montreal-based Stingray Group Inc. (TSX: RAY.A; RAY.B) is a leading music, media, and technology company with over 1,200 employees worldwide. Stingray is a premium provider of curated direct-to-consumer and B2B services, including audio television channels, more than 100 radio stations, SVOD content, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps, which have been downloaded over 150 million times. Stingray reaches 400 million subscribers (or users) in 156 countries. For more information: www.stingray.com.
For more information, please contact:
Senior Vice-President, Marketing and Communications
1 514 664-1244, ext 2362