Core Viewpoint - TuneIn, an internet radio service, has been sold for $175 million to Stingray Group, significantly lower than its previous valuation of $500 million [1]. Company Overview - TuneIn was founded in 2002 and initially focused on streaming traditional radio stations over the internet, offering a variety of content including news, talk, and live sports [3]. - The company attempted to monetize its offerings through a paid subscription model that included audiobooks and ad-free radio channels [3]. Market Challenges - TuneIn faced difficulties competing in the crowded streaming market, particularly as consumer preferences shifted from talk radio to podcasts and the demand for ad-free music subscriptions increased [4]. Acquisition Details - Stingray Group, based in Montreal, acquired TuneIn to enhance its reach through partnerships with device manufacturers, automakers, and content providers [5]. - The acquisition price of $175 million was based on TuneIn's projected sales of $110 million and adjusted EBITDA of $30 million for the 12-month period ending December 31, 2025 [6]. - TuneIn has over 75 million monthly active listeners globally, and Stingray expects its revenue to exceed $400 million post-acquisition [6].

Exclusive: Apple’s deal with digital radio platform TuneIn is the first time Apple Music’s six radio stations will be available outside the company’s app https://t.co/XTO1vFzUbo ...