Four-Year Agreement with Farmacias del Ahorro Exponentially Grows Stingray Business’ Operations in Mexico with its partner Basha
- Stingray Business, working collaboratively with its Mexican affiliate Basha, selected as Farmacias del Ahorro’s exclusive background music, and digital signage content and technology provider for the chain’s 1,600 pharmacies and 1,600 clinics (with an expected annual growth of 200 pharmacies and clinics.)
Montreal, July 27, 2017 - Stingray (TSX: RAY.A; RAY.B), a leading business-to-business multi-platform music and in-store media solutions provider, today announced that has a concluded a groundbreaking agreement with Farmacias del Ahorro, one of Mexico’s largest drugstore chains, that will bring custom music programming and digital signage technology to over 1,600 pharmacies and 1,600 clinics across Mexico.
Stingray Business, working collaboratively with its local affiliate, Marketing Sensorial Mexico, S.A.P.I. de C.V. (operating as “Basha”), has been given the mandate of strengthening Farmacias del Ahorro’s position as a market leader through expertly curated background music channels and state-of-the-art digital content and technology.
This agreement marks an important milestone for Stingray Business in Mexico. In addition to custom background music channels, specially curated for the specific requirement of local drugstores and clinics, Stingray Business and its local affiliate, Basha, will enhance the chain’s customer and patient experience with digital signage content and interactive technology, including digital kiosks and touch screens.
“It has long been our position that in-store media should be an integral part of every organization’s branding and customer experience strategy,” said Eric Boyko, President, Co-founder, and CEO of Stingray. “Clients visit clinics and pharmacies for a number of reasons, and we believe that our custom solutions will go a long way to create a positive and soothing atmosphere while keeping clients informed. We are excited to have found in Farmacia del Ahorro a partner that also believes in the power of expertly programmed music and interactive technology to enhance the customer experience. It is a privilege to have this opportunity to contribute to the success of a brand so dear to the hearts of the people of Mexico.”
“We are thrilled to partner with Stingray on our biggest deal to date and to have the opportunity to innovate with Farmacia del Ahorro across all digital platforms to enhance the customer experience,” said Jacobo Jafif CEO of Basha. “This is a ground-breaking deal in the Mexican market that represents a major milestone not only for Stingray but for Basha as well. The expertise and technological infrastructure that Stingray brings to the table make it the best partner we could find.”
“Our objective when launching this project was to implement innovative solutions that would provide our customers with a comforting and relaxing ambiance when visiting our pharmacies and clinics,” said Rafael Selvas, CMO of Farmacia del Ahorro. “To achieve this goal, we required not only a provider but a partner we could rely on for state-of-the-art in-store experience. After a lengthy research process, we selected Stingray and Basha for their cutting-edge technology deployed by an experienced and dedicated team. We are anxious to start implementing the result of our collaboration in our locations across the country.”
Stingray (TSX: RAY.A; RAY.B) is a leading business-to-business multi-platform music and in-store media solutions provider operating on a global scale, reaching an estimated 400 million pay TV subscribers (or households) in 156 countries. Geared towards individuals and businesses alike, Stingray’s products include the following leading digital music and video services: Stingray Music, Stingray Concerts, Stingray iConcerts, Stingray Brava, Stingray DJAZZ, Stingray Music Videos, Stingray Lite TV, Stingray Ambiance 4K, Stingray Karaoke, NatureVision TV, Yokee Music, Festival 4K, Stingray Loud, Stingray Juicebox, Stingray Vibe, Stingray Retro, and Classica. Stingray also offers various business solutions, including music and digital display-based solutions, through its Stingray Business division. Stingray is headquartered in Montreal and currently has close to 350 employees worldwide, including in the United States, the United Kingdom, the Netherlands, France, Israel, Australia, South Korea, and Singapore. Stingray was recognized in 2013 and 2014 as a finalist in the Top 50 of Deloitte’s Technology Fast 50TM list, and figures amongst PROFIT magazine’s fastest-growing Canadian companies. In 2016, Stingray was awarded best IR for an IPO at the IR Magazine Awards – Canada. For more information, please visit www.stingray.com.
For more detailed information, please contact:
Senior Vice-President, Marketing and Communications
1 514-664-1244, ext. 2362