August 15, 2022 08:00 ET | Source: The Singing Machine Company, Inc. The Singing Machine Company, Inc.
Fort Lauderdale, Florida, UNITED STATES
New Flagship Karaoke Product Offers Best–in–Class Technology to Serve Costco’s Domestic and Select International Markets Worldwide
Fort Lauderdale, FL, Aug. 15, 2022 (GLOBE NEWSWIRE) — The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) — the North American leader in consumer karaoke products – today announced it is launching its new flagship WiFi pedestal karaoke machine with Costco North America and select worldwide territories for this coming fall. The new distribution program will provide distribution into more than 500 Costco US locations nationwide and a wider international distribution plan which includes 40 Costco Clubs in Mexico and 13 Costco Clubs in Australia. Through Singing Machine’s new European distributor, CMS Distribution, the fall program will also include international distribution to Costco UK and for the first time ever, Costco Sweden and Costco Iceland.
The new model, ISM1090, is Singing Machine’s latest WiFi-enabled karaoke machine with significantly improved hardware and software capabilities to enhance the karaoke fun and singing experience. Singing Machine’s new WiFi karaoke system includes the following industry-leading features:
Gary Atkinson, Company CEO, commented, “We’re excited to launch our new fully-featured, innovative karaoke product line with Costco. Costco members demand the best products in any category they buy and we’re honored that our Singing Machine products continue to meet the test of excellence year-in and year-out.”
Mr. Atkinson continued, “This is our third consecutive holiday season where we are building sales momentum with Costco driven off of technological capabilities and new offerings. We launched our digital content subscription model with Costco as a pilot two years ago and built on that momentum with excellent sales results in 2021. We look forward to unveiling our new flagship product with Costco in the next few weeks nationwide.”
About The Singing Machine
Singing Machine® is the worldwide 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 100,000 songs for streaming and download. Singing Machine products are sold through most major retailers in North America such as Amazon.com, Costco, Sam’s Club, Target, and Wal-Mart and also internationally. See www.singingmachine.com for more details.
Investor Relations Contact:
Brendan Hopkins
(407) 645-5295
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.