Stingray to distribute Telefónica On the Spot services
Juan Fernandez Gonzalez
| 20 October 2014
In order to strengthen its presence in Latin America's pay-TV market, Stingray Digital has acquired the customer portfolio of Telefónica's On the Sport in Brazil, Chile, Colombia, Peru, Ecuador, Venezuela and Portugal.
stingrayThe acquisition means a leap forward in Stingray's Latin American expansion. The Telefónica subsidiary, which specialises in the digital market, in-store media services, music distribution and digital signage, is the first telco unit to deal with Stingray, although the Canadian company expects this deal to be the first of many.
"It's an honour become residential music services provider for Telefónica's pay-TV customers," said Eric Boyko, CEO and president at Stingray. "We are experiencing an important growth in Latin America, where our services are available to over 30 million subscribers, and our plans include the launch of new services in the short term in order to add more value for our Latin American audiences."
"The acquisition is an essential step for our strategy in the region because it improves our customers' portfolio and enables us to explore new commercial opportunities with Telefónica's affiliates," added Gustavo Tonely, general manager for Latin America at Stingray www.stingraydigital.com.
Under the terms of the agreement, all On the Sport pay-TV services will be commercialised by Stingray Music, which will add Telefónica's offer to its current linear music channel portfolio.
With the deal, the Spanish telco aims to simplify its business structure and focus on its priority business, which for On the Spot unit are in-store services and marketing.