Stingray Group Inc. has selected Targetspot, a pioneer in the digital audio space, to monetize the global digital audio advertising across its Stingray Music services, including the free, ad-supported television audio channels (FAST) and the Stingray Music app. Through this partnership, advertisers and brands will be able to easily purchase Stingray audio inventory and connect with an ever-expanding audience of music aficionados.
According to a global survey conducted in March, 2020, the coronavirus has had a direct impact on in-home media consumption around the world, with 35% having listened to more streaming services due to the COVID-19 pandemic. This increase in audience translates into a golden opportunity for advertisers to connect to even more people who are in a receptive mindset.
Targetspot launched its business in 2007 and has since become a leading global audio sales house with offices throughout North America and Europe. The company owns and operates its own tech stack and serves more than one billion audio impressions monthly. Targetspot's wide breadth of expertise is a perfect complement to Stingray's music offering. The exclusive worldwide agreement gives Targetspot the mandate to monetize Stingray's audio advertising space (70 million monthly active users) for two years.
Stingray offers a way to access premium music experiences at no extra cost via its Stingray Music app and through the introduction of free, ad-supported TV audio channels across leading over-the-top (OTT) platforms including XUMO and LG. Together, Targetspot and Stingray are paving the way for tremendous gains in advertising opportunities.
"Targetspot is the ideal partner to support the ongoing growth and evolution of Stingray's global digital audio strategy," said Ryan Fuss, senior vice-president, advertising solutions, at Stingray. "Their shared belief in delivering premium audio advertising experiences to listeners was a key factor in awarding Targetspot our business. I am confident that their industry-leading technology and best-in-class global sales force will help differentiate our premium audio supply with advertisers. I am excited about this partnership and the future of our global advertising business."
"It is often said that consumers follow content and advertisers follow consumers. Stingray Music's FAST distribution strategy is brilliant in that it offers advertisers another unique and compelling way to connect with consumers," explained Dominick Milano, vice-president of business development in North America of Targetspot. "Brands can take advantage of these unique platforms by developing creative around the context -- knowing the where, when and what has tremendous value."