Fully Redesigned WiFi Streaming Karaoke Product Delivers
Best in Class Upgrades and Capabilities for In Home Use
Fort Lauderdale, FL, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the worldwide leader in consumer karaoke products – today launched its fully redesigned flagship karaoke machine in partnership with Costco North America in time for the upcoming holiday season. The expanded program will provide distribution throughout Costco US locations nationwide. The sales program will also include a wider international distribution plan at Costco Clubs throughout the United Kingdom.
Gary Atkinson, the Company’s CEO, commented, “With our brand new Singing Machine Hub, we’ve fully re-imagined our flagship karaoke product. We’ve redesigned the product from the ground up to fit in a smaller, more compact footprint. With its new compact design, the Hub can be totally integrated into the family entertainment center for spontaneous daily use. This means families can now have a more joyful experience out-of-the-box and start singing almost instantly. This convenience is a compelling selling point based on consumer feedback.”
Mr. Atkinson continued, “We are constantly looking to improve our technology, with the goal of providing the most enjoyable, best-in-class karaoke experience. With this in mind, our team fully redesigned the Hub with a much more generously sized 10.1” touchscreen display to output high-definition karaoke lyrics or support HDMI™ output to a larger sized TV. Further, we’ve deepened the integration with our content partner, Stingray, to support the latest version of our vastly improved karaoke app.”
The new model, branded as the Singing Machine Hub, is the Company’s latest WiFi-enabled karaoke machine with significantly improved hardware and software capabilities. These upgraded capabilities offer a significantly enhanced karaoke experience for consumers of all ages.
Singing Machine prides itself for leading the industry in technology adoption, delivering what they consider a best-in-class product. This new flagship karaoke system includes the following industry-leading features:
- 5G enabled WiFi connectivity with access to extensive digital portfolio of karaoke content.
- Compatible with all music and karaoke apps, record and share performances online.
- Bluetooth™ for wireless digital audio streaming with compatible devices, including most entertainment theater systems for more powerful sound output.
- HDMI™ output to display lyrics on compatible home devices including TVs and monitors.
- Larger and improved 10.1” built-in touchscreen display.
- Music synchronized light show and optional sound effects make for customized show stopping performances.
- Subscription-based music service; includes 1 month subscription to Singing Machine Karaoke catalog with over 100,000 licensed, high-definition karaoke videos.
Atkinson added, “We are very excited to launch this flagship product with our retail partners at Costco. We have had strong sale results in recent years launching new products and capabilities across Costco’s extensive retail network. For example, we launched our digital content subscription model with Costco as a pilot three years ago and built on that momentum with excellent subscription conversion rates and music subscription growth. We look forward to unveiling our new flagship product with Costco in the next few weeks nationwide leading up to what we believe will be a successful holiday shopping season.”
About The Singing Machine
Singing Machine is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, the Company designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Their portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world’s first globally available, fully integrated in-car karaoke system. The Company also has a new philanthropic initiative, CARE-eoke by Singing Machine, to focus on the social impact of karaoke for children and adults of all ages who would benefit from singing. Their products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam’s Club, Target, and Walmart. To learn more, go to www.singingmachine.com.
Investor Relations Contact:
investors@singingmachine.com
www.singingmachine.com
www.singingmachine.com/investors
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "may", "could", "expects", "projects," "intends", "plans", "believes", "predicts", "anticipates", "hopes", "estimates" and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon several assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the Company's control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described in the Company's filings with the Securities and Exchange Commission. The forward-looking statements are applicable only as of the date on which they are made, and the Company does not assume any obligation to update any forward-looking statements.
