Radio streamer TuneIn acquired for $175M

Montreal-based Stingray Group has acquired TuneIn, the long-running internet radio platform once valued at around $500 million, in a deal worth $175 million. The agreement includes $150 million paid at closing and an additional $25 million due one year later, according to the company’s statement released Wednesday.

The deal was financed through Stingray’s renewed credit facility, marking one of the most notable media acquisitions in recent years — and signalling the consolidation of the internet radio industry amid growing competition from podcasts and on-demand music platforms.

A Pioneering Internet Radio Platform

Founded in 2002, TuneIn was one of the early leaders in the digital music space, unlike streaming giants such as Spotify or Apple Music, which focus on ad-free, subscription-based listening, TuneIn specialises in broadcasting live radio stations online. Its catalogue spanned music, news, talk shows, sports, and audiobooks, reaching millions of listeners worldwide.

At its peak, TuneIn attracted major investors and was valued at $500 million. However, as consumer preferences shifted toward podcasts and on-demand music streaming, TuneIn struggled to retain users, and subscription growth slowed.

Why Stingray Bought TuneIn

Stingray, which operates digital music channels, radio stations, and advertising platforms, said the TuneIn acquisition will expand its global reach through partnerships with automakers, device manufacturers, and content providers.

TuneIn’s platform currently reaches over 75 million monthly active listeners across 200+ platforms and 50 in-car systems in more than 100 countries.

The company stated that the TuneIn brand will remain, and the integration will focus on cross-promotional opportunities and scaling advertising and content distribution.

Financial Terms and Growth Outlook

The $175 million valuation was based on TuneIn’s projected 2025 revenue of $110 million and adjusted EBITDA of $30 million. Once the deal closes, Stingray expects its annual revenue to surpass $400 million.

Stingray CEO Eric Boyko said the move reinforces the company’s commitment to “building a global ecosystem that bridges music, media, and technology.”

The Bigger Picture

The sale marks a dramatic shift for TuneIn — from one of the earliest disruptors in internet radio to a niche player in an increasingly competitive digital audio market. As AI-driven personalisation and podcast discovery tools continue to evolve, platforms like TuneIn may find new life under owners who can merge traditional radio with more innovative, more interactive listening experiences.