Montreal, June 20, 2024 – Stingray (TSX: RAY.A; RAY.B), a leader in music, video content distribution, business services, and advertising solutions, proudly announces its 100th matched panel test study, showcasing a significant 20.3% average sales lift for consumer packaged goods (CPG) brands through in-store audio advertising.

Using matched panel analysis with data from Nielsen Scantrack, Stingray conducted over 100 studies to measure the impact of in-store audio ads on CPG brands across 42 categories, including beauty, snacks, adult beverages, and produce. By comparing sales data from stores where the ads were played to similar stores where no ads were played, the studies were able to isolate and measure the true impact of the audio campaigns. This method relies on random assignment and statistical methods to account for variables such as price, seasonality, and unrelated promotions, ensuring accurate and reliable results. A typical example is the allergy remedy category, where three tests showed an impressive average sales lift of 24.9%.

“Reaching our 100th matched panel test is a significant milestone for Stingray Advertising. This achievement underscores our commitment to delivering exceptional, measurable results for our CPG clients,” said Bryan McGuirk, CRO of Stingray Advertising. “With an average sales lift of 20.3%, our targeted in-store advertising solutions not only enhance brand visibility but also drive substantial revenue growth for our partners. We are proud to set a new standard in retail media networks, proving that strategic audio advertising is a powerful tool in the marketing mix.”

Stingray Advertising operates the largest retail advertising network in the U.S., with over 21,100 stores and more than 800 million monthly shopping visits. Beyond sales lift, Stingray offers brands the ability to measure performance across the marketing funnel, including brand lift, advertising recall, and intent to purchase.

About Stingray
Stingray (TSX: RAY.A; RAY.B), a global music, media, and technology company, is an industry leader in TV broadcasting, streaming, radio, business services, and advertising. Stingray provides an array of music, digital, and advertising services to enterprise brands worldwide, including audio and video channels, over 100 radio stations, subscription video-on-demand content, FAST channels, karaoke products and music apps, and in-car and on-board infotainment content. Stingray Business, a division of Stingray, provides commercial solutions in music, in-store advertising solutions, digital signage, and AI-driven consumer insights and feedback. Stingray Advertising is North America’s largest retail audio advertising network, delivering digital audio messaging to more than 30,000 major retail locations. Stingray has close to 1,000 employees worldwide and reaches 540 million consumers in 160 countries. For more information, visit www.stingray.com.

For more information, please contact:

Frédérique Gagnier
Director, Communications and Partnerships
Stingray
fgagnier@stingray.com