Singing Machine Unveils New Flagship Karaoke Product for Holiday Distribution Nationwide with Costco
2023年9月11日 - 8:00PM
Th
e 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.comwww.singingmachine.comwww.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.
Singing Machine (NASDAQ:MICS)
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