FORT LAUDERDALE, FL–SMDM, (Marketwired – Aug 1, 2017) – The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (OTCQX: SMDM) — the North American leader in consumer karaoke products — today announced it has signed a new distribution agreement with Best Buy U.S. and Canada to ship product for the coming Fall 2017 year.
The Company announced today Best Buy U.S. stores will carry one Singing Machine karaoke model for this fall season and Best Buy Canada will carry seven models. The new distribution partnership solidifies Singing Machine’s presence as a major mass market vendor, with distribution in virtually every major mass market retail channel in North America. The Company will continue to offer its full product assortment on BestBuy.com, which has been successfully trending 100% year-over-year growth for the last two years.
Other major retailers confirmed for the fall season include Amazon, BJ’s Wholesale Club, Costco, Sam’s Club, Target, Toys ‘R’ Us, Wal-Mart, and many, many more. With the addition of Best Buy, Singing Machine’s customer list grows to be one of the most premiere lists of retail customers in the world.
Bernardo Melo, VP of Sales & Marketing, commented, “We’re excited to finally be partnering with Best Buy to bring our Singing Machine products to Best Buy’s loyal customer base. We believe the Singing Machine brand represents offerings that are a perfect fit for the Best Buy tech-friendly customer demographic.” Melo added, “Best Buy’s decision to carry Singing Machine speaks heavily about the popularity of the Singing Machine brand and the overall success of the karaoke category right now. We’re excited to be sharing the joy of karaoke to an entirely new demographic of customers.”
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.
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.