Fort Lauderdale, FL, Dec. 05, 2017 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (OTCQX: SMDM) – the North American leader in consumer karaoke products – announces its biggest Black Friday and Cyber Week results in company history.
Singing Machine products were featured nationally in major ad campaigns over the Black Friday weekend with promotions in over 7,000 brick and mortar retail locations nationwide. The Company announced the early results reported by its retailers were extremely positive with sell-through at retail far surpassing any Black Friday results in the Company’s history. Singing Machine reports that over $14 million of Singing Machines were purchased by consumers during the Black Friday weekend and Cyber Week. The Company also announced the Thanksgiving weekend was the 2nd largest weekend ever in the Company’s history for e-commerce sales with more and more consumers electing to buy from home.
Bernardo Melo, VP of Sales & Marketing, commented, “Singing Machine promotions on Black Friday saw a range of price points from $39 to $99 with success at both ends of the price point, indicating a strong demand from consumers on both the low and high end. With all of the other choices for toys and musical instruments out there, it was still clear that karaoke and Singing Machine was top of mind for consumers this holiday season. Whether it is inspiring a child to sing or entertainment for family and friends, it’s good to know that Singing Machine brand is still the number one brand for karaoke and music entertainment.” Melo added, “As re-orders come in for this current quarter, we’re anticipating a strong finish to the year.”
About The Singing Machine
Based in the U.S., Singing Machine® is the North American leader in consumer karaoke products. The first to provide karaoke systems for home entertainment in the United States, the Company sells its products worldwide through major mass merchandisers and on-line retailers. We offer the industry's widest line of at-home karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. As the most recognized brand in karaoke, Singing Machine products incorporate the latest technology for singing practice, music listening, entertainment and social sharing. The Singing Machine provides consumers the best warranties in the industry and access to over 13,000 songs for streaming and download. Singing Machine products are sold through most major retailers in North America and internationally. See www.singingmachine.com for more details.
Investor Relations Contact:
Brendan Hopkins
(407) 645-5295
investors@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. Such forward‑looking statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management and include, but are not limited to statements about our financial statements for the fiscal year ended March 31, 2017. You should review our risk factors in our SEC filings which are incorporated herein by reference. Such forward‑looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward‑looking statement to reflect events or circumstances after the date of this release.