Established in 1982 and listed on the American Stock Exchange, The Singing Machine Company Inc. designs, develops, and distributes a full line of consumer-oriented karaoke systems, music, youth electronics, musical instruments and accessories under The Singing Machine®, Motown®, Bratz™, SMDigital™ brand names. The first to provide karaoke systems for home entertainment in the United States, Singing Machine sells its products in North America, Europe, Australia, Central and South America.
The Singing Machine announces management team appointments
Karaoke machine maker The Singing Machine Company (OTCBB: SMDM) announced Wednesday the appointment of its management team.
The company said that effective immediately, its board has approved the appointment of Gary Atkinson from interim CEO, to the position of CEO.
The company said its board has also approved the appointment of Lionel Marquis from principal accounting officer to CFO, while former interim CFO Carol Lauwill resign from her current position, but will remain with Singing Machine as chair of the board.
Singing Machine noted that Atkinson has been with the company since 2008, serving as general counsel and secretary. Since his appointment as interim CEO in December 2009, Atkinson has been overseeing all areas of the company.
Marquis joined the company in June 2008 as controller and principal accounting officer, where he has been responsible for overseeing the accounting department and preparing all quarterly and annual financial statements, said the company.
For the past 16 years, Marquis has served as controller and or CFO for several manufacturing and distribution companies in the South Florida area.
The company, whose karaoke machines, accessories, karaoke music downloads, and musical instruments are sold under the brands of Singing Machine, SMDigital and Sound X, did an approximate $1.3 million in sales on Black Friday alone.
The Singing Machine, which emerged from bankruptcy in 1998 and underwent a restructuring in 2004, has come a long way.
In 2009, it launched its online karaoke music download business through a partnership with content provider Stingray Digital, and became the first karaoke company to provide legal karaoke downloads, with a selection of more than 8,000 titles.
The business is 51 percent owned by a large manufacturing company in China, named Starlight, who acquired the stake in 2007.
The company's products are now featured across 1,800 stores across the US, with plans to expand its presence abroad.
In March, the company appeared on ABC’s daytime entertainment talk show The View.
The Karaoke machine maker’s 4TV device was featured in a Dr. Gadget segment which highlighted five of the coolest new gadgets on the market.
Dr. Gadget, a radio and TV personality, showcased the product during a one minute clip and described it as the “new wave and new evolution of karaoke.”
The Singing Machine 4TV is the industry's first home karaoke machine to support digital karaoke downloads in MP3+G format. The 4TV product also offers a USB microphone and remote-control as well as interactive user interface to control users' karaoke experience.
The machine is also compatible with traditional CD+G discs, and enables users to download songs to a jump-drive, making for an easier user experience.
The Singing Machine Company's products are sold in North America, Europe and Australia.