Stingray Group Buys TuneIn for $175 Million

The internet radio pioneer TuneIn is being sold to the Montreal music streaming company Stingray Group for $175 million, a deal that would bring together two major players in ad-supported audio and fortify Stingray’s presence in the connected car. The company is expected to pay $150 million at closing and another $25 million one year after closing, and it is financing the purchase with a loan under its newly inked credit facility.

The deal, for what was once a widely used streaming service, underscores how device distribution and automotive agreements are shaping the business of streaming other kinds of audio like radio broadcasts, news, and sports — rather than on-demand music services alone.

(TuneIn was also an early mover in podcasts but had faced increasing competition from Apple Podcasts, Apple Music, Spotify, and others.)

Deal terms and valuation behind the $175 million buy

Stingray’s $175 million price is tied to TuneIn’s outlook for the 12 months ended Dec. 31, 2025: US$110 million in sales and US$30 million of adjusted EBITDA.

That equates to roughly 1.6x forward revenue and about 5.8x forward EBITDA — modest multiples for a platform that has demonstrable global reach but appropriate in a market that, more often than not these days, seems to prize profitable growth and durable distribution over vanity metrics.

TuneIn says it reaches over 75 million monthly active listeners, with availability on more than 200 platforms and connected devices, including more than 50 vehicle models, with integrations across the automotive industry encompassing over 100 countries.

Stingray said the TuneIn name will be retained and forecast that its combined revenue will top $400 million once the deal closes.

Why TuneIn still matters in live and ad-supported audio

Unlike its subscription-laden rivals who focus on on-demand music delivery, TuneIn’s bread and butter is the aggregation of live radio — music, news, talk, and sports — distributed over the web. That breadth is what gives it durability: Live programming remains habitual, and the platform’s ad-supported model gels with a wide swath of local and national radio inventory that is still carrying in brand dollars.

The company has flirted with premium tiers — ad-free channels and audiobooks, for instance — but its core value proposition is distribution at scale. Being preinstalled or otherwise easily available from smart speakers, TVs, and dashboards matters more than exclusive catalogs in the niche of live-radio-like listening, which rewards convenience and habit above all.

What Stingray gains from buying TuneIn and its audience

Stingray, which runs radio properties and offers music technology and ad services, gains a worldwide consumer funnel to go along with its B2B clients. The combined footprint enhances leverage with automakers, device manufacturers, and content providers, as well as the potential to cross-sell ad solutions and curated channels into TuneIn’s audience while syndicating Stingray’s programming on new endpoints.

For revenue, a larger inventory pool can generate more funds against campaigns and better optimization globally. On an operational level, shared infrastructure around content delivery, rights management, and measurement should create some efficiencies that help the pro forma business defend margins even when the ad market goes wobbly.

The connected car advantage and TuneIn’s auto footprint

The dash is the reward here. The fact that TuneIn is active in more than 50 car systems provides Stingray a straight path into an auto world where radio remains king but streaming has been steadily rising. With the evolution of infotainment platforms and the rise of voice as par for the course, an early placement or sticky integration can tip share of ear with investment outpacing wallet-wounding content spend.

Market researchers have been charting the uphill climb of in-car streaming even as AM/FM still reigns supreme. Indeed, in that respect, TuneIn’s bundling comes across as prime shelf space at a crowded app store, particularly in markets where monthly data plans and hands-free vehicle controls make live radio a low-friction option for commuters.

Headwinds and execution risks facing Stingray and TuneIn

Aggregation alone won’t be enough to counter competition from Sirius XM, iHeart, and the vast podcast ecosystem. Consumer behavior has swung to on-demand audio, and subscription fatigue has compelled platforms to demonstrate ad effectiveness through cleaner attribution and brand safety — areas in which execution, not scale, drives results.

Global licensing and compliance are still complicated in 100+ countries. Ad markets are cyclical, and the economics of live sports rights can squeeze margins. Integration will also require keeping intact TuneIn’s light, fast user experience and stacking Stingray’s monetization layer on top of that without slowing things down.

Key signs to watch next as the acquisition closes

Stingray has indicated that the TuneIn brand remains intact, a likely relief to listeners and device makers. Look for early moves with bundled offers, expanded premium ad-free tiers, or curated live channels that mash together Stingray programming and TuneIn distribution.

Also interesting: the way Stingray leverages the platform’s automotive assets — deeper OEM integrations, better voice-navigation capabilities, or analytical tools for advertisers hoping to reach drive-time listeners. With an earn-out coming up in a year and revenue guidance north of $400 million, the company has strong incentives to focus on growth that’s measurable as well as quickly realizable.

Bottom line: Internet radio is about to enter its next stage and, at ~1.6x forward revenues, it looks like Stingray’s wager is that broad distribution — not exclusive catalogs as with television streaming — will define the next surge in internet radio. If the combined company can turn dashboard real estate and device ubiquity into higher-yield ad products, it might be a smart, value-priced roll-up in a crowded audio market.