FORT LAUDERDALE, Fla., Oct. 08, 2015 (GLOBE NEWSWIRE) — The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (OTCQB:SMDM) announces it is expanding its global branding and distribution initiative by securing distribution with new territories including: South Africa, South America, and Dubai, while expanding its European and Australia distribution.
The Company has secured distribution with a new distributor in South Africa that will be introducing Singing Machine to hundreds of retail locations across South Africa. Examples of retailers include Musica, the region’s largest music retailer, Toys ‘R’ Us South Africa, and many other specialty retail outlets. The Company’s distributor has launched a Singing Machine website for South Africa at www.singingmachine.co.za.
In Europe and the U.K., the Company is anticipating to almost triple its business with PDT, its key distributor in those territories. The growth is based on the success of its karaoke sales in the region during last holiday season where most retailers reported selling out of inventory by October. Singing Machine is expected to be carried in several of the top retailers and e-commerce stores all over the U.K. and Europe, including Amazon UK, Smyths Toys, The Range, Shop Direct, B&M and many other specialty retailers.
David Holder, Managing Director of PDT, commented, “Partnering with the #1 brand in consumer karaoke has allowed us to revitalize this exciting market in the U.K. and Europe. While many expected karaoke to fade away as apps and smartphones dominate our lives, karaoke has experienced a resurgence in popularity as parents and kids enjoy the wholesome value of expression, creativity and performance that comes with live singing. Singing machine consistently provide us with winning products that we in turn provide to our winning customers.”
The Company anticipates revenues from international sales to account for approximately 8% of overall sales this fiscal year (compared to approximately 5% last year) and sees that percentage continuing to grow, citing the fact that many international emerging markets do not currently offer any home karaoke options in their respective regions.
Bernardo Melo, VP of Sales & Marketing commented, “These are exciting times. We resisted the opportunity to OEM products internationally at the sacrifice of the Singing Machine brand. We believe Singing Machine brand has global appeal as the #1 brand in home karaoke, so we have focused our efforts to reintroducing the Singing Machine product line to a growing number of international retailers and consumers through our distribution partners. The strategy is finally paying off from a distribution and sell-through stand point. We’re lucky to be working with aggressive distributors that are committed to growing our global footprint.”
About The Singing Machine
Based in the US, 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 world-wide 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 10,000 songs for streaming and download. Singing Machine products are sold through most major retailers in North America and also internationally. See www.singingmachine.com for more details.
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, 2015. 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.
CONTACT: Investor Relations Contact: Brendan Hopkins (407) 645-5295 firstname.lastname@example.org www.singingmachine.com www.singingmachine.com/investors