St. John's Board of Trade Business News Winter Edition

Page 19

Welcome to Stingray! Local Vibes, Global Reach. In late October, a company with distinct Newfoundland and Labrador roots took on a new global presence. The radio company founded by Harry Steele, Newcap Radio, was officially acquired by Stingray, a Montreal-based worldwide music and technology company on October 26. That transaction included Newcap’s Newfoundland and Labrador division, Steele Communications, with radio stations such as VOCM, K-Rock, and 99.1 HITS-FM, along with 101 radio stations spanning right across Canada from St. John’s to Vancouver. As part of the deal, the Steele family has taken on a significant shareholder stake in Stingray. The good news for listeners, advertisers, and Steele Communications employees is that nothing really changes. Stingray intends to stay true to the Steele philosophy of serving local communities with world-class radio stations. What does change is distribution potential. Through their various digital assets, Stingray reaches listeners and viewers in 156 countries. Stingray services cable TV subscribers with a vast array of digital music channels and music video channels. In addition, the company dominates the karaoke space with their mobile apps and reaches customers in 78,000 retail locations with custom-made branded audio content. “VOCM is a unique radio station that serves listeners all around the world,” said Mike Murphy, General Manager of the Stingray stations in Newfoundland and Labrador. “And the added global distribution capabilities of Stingray will hopefully help us reach those listeners wherever they live and work.” The Stingray radio stations are currently distributed on the Radioplayer Canada app, and that will continue. However, Murphy said plans are in the works to bring the 101 radio stations to the popular Stingray Music mobile app. “The Stingray mobile app offers listeners literally thousands of music channels, curated for every mood or moment in your life,” noted Steve Jones, Stingray’s SVP/ Brands & Content for radio. “By bringing our 101 radio stations to that app, we can give listeners the chance to seamlessly enjoy our local radio stations or a wide VOLUME 34: #1

variety of expertly curated streams without ever having to download another music streaming app.” While the acquisition is still fresh, so far there have been no changes to the stations that serve Newfoundland and Labrador. “The radio stations are still programmed locally, with music, talk, and advertising content that is created specifically for the unique needs of the province,” assured Jones. “There are no plans to change that strategy. The Stingray acquisition simply brings us a worldwide distribution network and adds a portfolio of new and exciting digital assets for our

listeners and advertisers to tap into.” According to the guy who manages the operation, the mood at the former Steele Communications building on Kenmount Road is upbeat. “Our team is enthusiastic that a company so deeply rooted in our province is now part of a global network,” said Murphy. “It is an extremely exciting time for all of us.” Michael Murphy General Manager (709)726-5590

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