Radio streamer TuneIn acquired for $175M | TechCrunch

"Internet radio service TuneIn, a competitor of sorts to Sirius XM and other streamers that was valued at around $500 million during its heyday, has sold for just $175 million. The acquirer is the music and technology company Stingray Group, which will pay $150 million at closing and up to $25 million one year later. It financed the deal with a loan under its renewed credit facility, the company said on Wednesday."

"Founded in 2002, TuneIn was an early player in the online music space. Unlike rivals like Apple Music or Spotify Premium that offer ad-free, subscription-based music on demand, TuneIn focused on streaming traditional radio stations over the internet. This business model also allowed TuneIn to deliver a wide variety of content beyond music, like news, talk, and live sports. The company attempted to monetize this content through a paid subscription that also included audiobooks and ad-free radio channels."

"However, the company struggled to compete in the crowded streaming market, particularly as consumer demand for talk radio shifted to podcasts, and people grew comfortable paying for ad-free music subscriptions. Stingray, a Montreal-based company that owns radio stations and provides music tech and advertising services, acquired TuneIn to expand its reach, particularly through partnerships with device manufacturers, automakers, and content providers. The company noted that TuneIn's content is available on more than 200 platforms and connected devices, including over 50 in-car audio systems, spanning more than 100 countries."

Stingray Group acquired internet radio service TuneIn for $175 million, paying $150 million at closing and up to $25 million one year later. The deal was financed with a loan under Stingray's renewed credit facility. Founded in 2002, TuneIn streamed traditional radio stations and delivered news, talk, and live sports, alongside a paid subscription offering audiobooks and ad-free channels. TuneIn struggled as listener demand shifted toward podcasts and subscription-based ad-free music. The acquisition expands Stingray's distribution through device makers, automakers, and content partners. TuneIn reaches over 200 platforms and has more than 75 million monthly active listeners.

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