Singing Machine Announces Associate Sponsorship of Paretta Autosport for INDYCAR’s Firestone Grand Prix at Monterey
Parette Autosport welcomes the world’s leading home karaoke machine, Singing Machine, to the Firestone Grand Prix
Fort Lauderdale, Fla., Sept. 08, 2022 (GLOBE NEWSWIRE) — Singing Machine, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) – the world leader in consumer karaoke products today announced that it will sponsor Paretta Autosport’s #16 Chevrolet Dallara for the upcoming Firestone Grand Prix of Monterey, September 9-11.
Singing Machine was the first to provide karaoke systems for home entertainment in the United States and now offers the broadest line of karaoke products in the industry. In addition to their Home Karaoke and Kids Series, Singing Machine also offers products for use in vehicles. The onboard mics are part of the CARPOOL KARAOKE universe, in partnership with the popular recurring segment of THE LATE LATE SHOW WITH JAMES CORDEN. Paretta Autosport is a technical partner of the Ed Carpenter Racing team, partner of BitNile Holdings, Inc. (BitNile). BitNile is the majority shareholder of Singing Machine.
The NTT INDYCAR Series season finale at WeatherTech Raceway Laguna Seca in Monterey, Calif., will be the fourth race of 2022 for Paretta Autosport and its driver Simona De Silvestro, a Swiss nicknamed “Iron Maiden”. Paretta Autosport is the only female-owned, female-led and female-led team in the NTT INDYCAR series. Continuing the legacy that began during their groundbreaking 2021 Indianapolis 500 effort with a team comprised of more than 65% women, including over-the-wall crew members, the team continues to inspire diverse interest for STEM through running.
Gary Atkinson, CEO of Singing Machine, commented, “As a consumer products company with karaoke product extensions into the automotive category, we are thrilled to partner with the groundbreaking women’s team at Paretta Autosport. Through our CARPOOL KARAOKE product line, we see great synergies in spreading the joy of karaoke and music into the automotive space. Additionally, INDYCAR fans are some of the best in the world and we are thrilled to have the opportunity to showcase our brand in front of tens of thousands of new customers!
“We are thrilled to have Singing Machine join us as associate sponsor for the NTT INDYCAR Series season finale,” said Beth Paretta, CEO and Team Principal of Paretta Autosport. “Adding Singing Machine to the Paretta Autosport team allows us to continue to grow our sponsor base as we look forward to 2023. Not only is Singing Machine a great fit for the motoring community and IndyCar audience, but it will add a lot of fun to our events.”
About the singing machine
singing machine® is the leading supplier of karaoke products to consumers around the world. The company offers the widest range of home and car karaoke entertainment products in the industry, allowing consumers to find a machine that suits their needs and skill level. The company’s products are sold in more than 25,000 locations worldwide, including well-known retailers such as Amazon, Costco, Sam’s Club, Target and Walmart. As the most recognized karaoke brand, Singing Machine products incorporate the latest technology and provide access to over 100,000 songs to stream through its mobile app and select WiFi-enabled products. To find out more, visit www.singingmachine.com.
Contact with Investor Relations:
Brendan Hopkins
(407) 645-5295
[email protected]
www.singingmachine.com
www.singingmachine.com/investors
About Parette Sports car
Paretta Autosport is the only female team in INDYCAR history. Launched in 2021, the team qualified and raced its first race, the 2021 Indianapolis 500. The team is on a mission to unite the current generation and inspire the next. With approximately 65% of the team made up of women in all roles, Paretta Autosport shines a light on diversity and inclusion for all while developing talent to fuel the STEM workforce pipeline far beyond the sports car.
To Parette Autosport, the spirit of competition drives us. We work hard and always seek to do better: for ourselves, for our team and for others. For more information about our team and our initiatives, visit www.parettaautosport.com .
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. ‘fine. Words such as “may”, “could”, “expect”, “plan”, “intend”, “plan”, “believe”, “predict”, “anticipate”, “hope” , “estimates” and variations of similar words and phrases are intended to identify forward-looking statements. These statements involve known and unknown risks and are based on various assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by these 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. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any forward-looking statements.
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