The Singing Machine Company is a public company listed on Nasdaq under the ticker symbol MICS. The Singing Machine Company is primarily engaged in the karaoke business including the development, production, marketing, and distribution of consumer karaoke audio equipment, accessories, music, musical instruments, and licensed youth electronic products.
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| Company type | Public (Nasdaq: MICS) |
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| Industry |
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| Founded | California, United States (1982, as The Singing Machine Company, Inc.) |
| Headquarters | 6301 NW 5th Way, Suite 2900, Fort Lauderdale, Florida |
Key people | Edward Steele CEO Till 2003 |
| Products | Karaoke Machines, Karaoke Music, Accessories |
| Website | SingingMachine.com |
History edit
The Singing Machine Company (SMC) was originally incorporated in California in 1982 with a focus on professional and semi-professional karaoke equipment. In 1988 the company began marketing karaoke equipment for home use. It is believed that SMD was the first company to introduce home karaoke products to the United States.[1] In 2001, SMC entered into a multi-year license agreement with MTV.[2] As a part of a shift in strategy, SMC approached the mass market through large retailers. In the following year, Business Week Magazine named The Singing Machine Company #1 on their list of Hot Growth Companies.[3]
Products edit
Karaoke Machines edit
The core of SMC's business is the distribution and sale of its karaoke machines to retailers and wholesalers such as Wal-Mart, Sam's Club, Best Buy, and Costco.[citation needed]
In the fall of 2015 The Singing Machine introduced its new digital line of products, no CD-G required allowing users to create playlists on the company's branded site and chose their favorite songs, download them to a USB, giving them the freedom of mixing and matching genres, singers, and enjoying the songs they want to sing.
Music edit
SMC has a music library thousands of recordings, which are licensed from their publishers for karaoke use. The library spans a variety of genres including: pop, rock, rap, country, Christian, Latin, motown, and oldies.
Bratz Licensed Products edit
In 2007 SMC signed a deal with MGA Entertainment to license the popular Bratz franchise. Such licensed products include karaoke products, digital drum sets, clock radios, TV/DVD combos, and portable DVD players.
Motown Licensed Products edit
Following a 2003 agreement between SMC and Universal Music Enterprises, the company released the "Motown Original Artist Karaoke" compilation series, which features karaoke tracks of Motown classic songs made from the original master recordings of the songs instead of cover versions, like most karaoke tracks. In addition, a Motown-themed karaoke machine has also been released.
Musical Instruments edit
SMC has a line of electronic drum sets under the brand name "SoundX".
References edit
- ^ "A Look into the History of the Karaoke Machine - Game Room Mania". Game Room Mania. 2016-11-13. Retrieved 2017-02-13.
- ^ "Company History". TheSingingMachineCo. Retrieved 2008-01-25.
- ^ Hot Growth Companies, Business Week (June 10, 2002)