Tunein acquired by Stingray Group

UNITED STATES Media & Internet / Content & Publishing / Digital Marketing, SEO, SEA, Data Analytics EV $100–350M

Context

This transaction is a strategic corporate acquisition wherein Stingray enters into a definitive agreement to fully acquire TuneIn. The operation is financed through a dedicated new term loan secured under the acquirer's renewed credit facility, featuring a structured payout that includes an initial closing payment and a subsequent performance-based earn-out. The primary strategic rationale driving this consolidation is to profoundly expand Stingray's global digital audio footprint and rapidly accelerate its growth within the streaming services sector. Furthermore, by directly integrating TuneIn's comprehensive ad platform and massive active listener base, the combined entity will dramatically bolster its targeted audio, video, and display advertising offerings, creating a highly scalable global audio leader.

Tunein, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, representing a discount to the average observed in the TMT (Tech, Media, Telecom) sector (14.8x in 2025).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

TuneIn is a pioneering global provider of live audio streaming and advertising monetization solutions. It operates a massive digital platform that serves tens of millions of active listeners worldwide each month, offering comprehensive access to radio stations, podcasts, music channels, news, sports, and audiobooks. The enterprise boasts robust strategic partnerships with major device manufacturers, automotive companies, and diverse content providers, ensuring its content is seamlessly distributed across hundreds of platforms and in-car audio systems globally. By leveraging its vast, highly engaged audience and advanced targeted advertising capabilities, the firm has established itself as a premier, scalable asset within the rapidly expanding digital audio ecosystem.

Ent. Value

$100–350M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (USD)

Year

Rev

EBITDA

EBIT

2025

2024

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REFERENCES

Valuation range: EV $100–350M

Revenue range: $100–200M

EBITDA range: $25–50M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Tunein by Stingray Group are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

FAQ

What transaction does this page cover?

This page covers Stingray Group’s acquisition of 100% of Tunein, an American company specialised in Content & Publishing, in 2025.

How was the acquisition of Tunein by Stingray Group valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the $100–350M band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Tunein’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Tunein generated annual revenue estimated in the $100–200M range and EBITDA in the $25–50M bracket (FY 2025). Detailed financial figures are available to members.

How does the valuation of Tunein compare to benchmarks in the TMT (Tech, Media, Telecom) sector?

The estimated multiple of 5x - 12x sits below the sector median of 14.8x recorded in 2025, indicating an attractive entry multiple for Stingray Group or reflecting specific complexities. The descriptive comparison is based on 15 transactions with available EV/EBITDA multiples from differences in size, growth, profitability that may affect comparability.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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