Provider Profile
Stingray
Stingray is the only publicly traded company on this list and the only in-store media provider that is also a broadcaster, a radio operator, a streaming service, and an in-car entertainment platform. The in-store music business is one piece of a much larger media conglomerate. Understanding that context is the starting point for any serious evaluation of Stingray as a vendor.
Company overview
Headquartered in Montreal, Quebec. Founded by Eric Boyko, who serves as President and CEO. Publicly traded on the Toronto Stock Exchange, consolidating to a single ticker in February 2026. Approximately 1,000 employees worldwide. The company reaches 540 million consumers across 160 countries across all its divisions, including over 100 radio stations, subscription video-on-demand content, FAST channels, music streaming apps, karaoke platforms, and in-car infotainment systems.
The company has been in active acquisition mode. In October 2025 Stingray acquired DMI, a US-based in-store audio advertising firm, adding 8,500 locations to its US retail media network and bringing the total to 33,500 locations, making it dominant in pharmacy audio advertising with relationships at the two largest pharmacy chains in the country. In November 2025 Stingray announced the acquisition of TuneIn Holdings for up to $175 million, completing the transaction in December 2025. Revenue grew 15.4% to $124.8 million in Q3 fiscal 2026.
What they sell
Stingray Business sells commercially licensed background music for commercial environments, digital signage, and on-hold messaging. Where Stingray is structurally differentiated is Stingray Advertising: the retail media network spans 33,500-plus US locations, reaching more than 928 million shopping visits per month across grocery, pharmacy, convenience, home improvement, and discount retail.
In 2023 Stingray Advertising and Mood Media's Vibenomics division combined their networks, creating the largest US retail media in-store network, reaching over 800 million monthly shoppers across 25,000-plus locations. The DMI acquisition in 2025 extended Stingray's position further. In December 2024 Stingray expanded into in-store video advertising across METRO grocery and pharmacy banners in Canada, integrating with Vistar Media's programmatic ad server.
Pricing
Stingray Business pricing for commercial music follows the same proposal-based model as other full-service providers. Enterprise accounts are scoped directly. The retail media component operates on a separate economic model where retailers receive revenue share on advertising sold against their shopper audience.
Who they're best for
Enterprise retailers in grocery, pharmacy, convenience, and home improvement who want both a licensed music service and access to a nationally scaled retail media network. Canadian retailers in particular: Stingray's domestic roots and Canadian broadcast infrastructure give it a market presence and regulatory familiarity that US-headquartered providers do not replicate easily. Brands and advertisers buying in-store audio advertising at national scale.
Considerations by buyer type
Buyers whose primary need is music, not advertising. Stingray Business delivers, but the company's investment and strategic energy is visibly concentrated in the retail media network. Buyers who want a focused music service may find smaller, music-first providers offer a more attentive relationship.
Buyers who want to avoid complexity. Stingray is a publicly traded media conglomerate with multiple divisions, active M&A activity, and a portfolio spanning radio stations, streaming apps, in-car entertainment, and retail media. For buyers who want a straightforward music vendor with clear focus, that complexity is worth weighing.
Smaller operators. The retail media network economics require meaningful scale. Self-serve providers serve single-location and small chain buyers more efficiently.
Notable clients and track record
Stingray's retail media network spans Kroger, Albertsons, Safeway, Southeastern Grocers, Hy-Vee, Food Lion, and Giant/Martin's in grocery. The DMI acquisition added the two largest pharmacy chains in the United States. METRO grocery and pharmacy banners in Canada are served through the expanded audio and video advertising platform. As a publicly traded company, Stingray discloses financial performance quarterly, providing a level of transparency most providers in this segment cannot match.
The verdict
Stingray occupies a different position in this market than any other provider on this site. It is not primarily an in-store music company. It is a media and technology conglomerate that operates an in-store music business and, increasingly, a retail media network of national scale. For enterprise retailers who want music and want to monetize their physical footprint through advertising, Stingray and QSIC are the two providers building infrastructure specifically for that purpose. Stingray brings the scale and the existing network. For buyers whose requirement is music and nothing more, Stingray Business delivers, but it is not the most focused or attentive vendor in the category for that specific need.