RIME Algorhythm Holdings Inc

Algorhythm Holdings, Inc. (Nasdaq: RIME) announces its subsidiary, The Singing Machine Company, Inc. (“Singing Machine”), a worldwide leading consumer karaoke company, has successfully entered into a strategic partnership deal with BYD (BYDDY, BYDDF), the world’s leading manufacturer of new energy vehicles and Stingray (TSX: RAY.A, RAY.B), a leading music, media and technology company.

As one of the world’s largest consumer karaoke companies, Singing Machine will be launching a globally available in-car karaoke microphone, designed to fully integrate with Stingray Karaoke app and BYD’s infotainment system in its vehicles. The first-of-its-kind partnership will have enhanced karaoke features and proprietary technology that allows for unique vocal enhancements such as vocal effects and live pitch-detection for karaoke scoring.

Singing Machine’s new microphones, co-developed with BYD Automotive Product Strategy and the New Technology Research Institute, will be manufactured by BYD Electronics and are set to debut during Christmas events in Brazil and Europe. Starting in early 2025, this feature will be available in an expanding range of BYD vehicles worldwide. Consumers may check with their local dealerships for availability updates.

As the world's leading manufacturer of new-energy vehicles, with more than nine million already produced, BYD is committed to innovation and bringing exciting technologies to its customers. The partnership will build on an existing agreement with Stingray, introduced in 2023, that has already brought the Stingray Karaoke app to millions of BYD customers worldwide. The enhancements under the new partnership will include additional ground-breaking features, such as a karaoke gaming and scoring mode accessible across an expanding range of the app's most popular songs, covering genres like pop, rock, Disney and holiday favorites. Additionally, future releases will feature live pitch correction, a unique capability that automatically adjusts the singer's voice in real time to ensure it stays in tune with the lead melody of the song.

"We’re thrilled to be working with our strategic partner, Stingray, to bring the latest karaoke technology and features to BYD customers throughout the world," said Gary Atkinson, CEO of Singing Machine. "BYD is the perfect launch partner for such a groundbreaking karaoke partnership. We’re excited to share the joy of karaoke to an entirely new global audience."

"BYD is thrilled to revolutionize the in-car entertainment experience by integrating Singing Machine's microphone and the Stingray Karaoke service into BYD vehicles," said Stella Li, Executive Vice President of BYD and CEO of BYD Americas. "By enabling scoring as a standard feature in our cars, we're transforming every journey into a memorable and interactive experience for our customers worldwide. Our commitment to innovation ensures that driving a BYD is not only about reaching your destination but enjoying every moment along the way."

BYD’s infotainment system will support dozens of languages and offer an intuitive user interface. BYD owners can access Stingray’s massive international song catalog, browsable by title, artist, lyrics, or genre. BYD and Stingray have collaborated to prioritize customers' safety by deactivating the scrolling karaoke lyrics on the center console, visible to the driver, while the vehicle is in drive mode. In addition, the teams have innovatively introduced a Passenger App, which allows passengers to use their mobile devices to view lyrics, control the song selection, fast forward, skip ahead, and more while the audio plays through the vehicle sound system.

"We're excited to collaborate with Singing Machine and BYD to bring a state-of-the-art karaoke experience to BYD vehicles," said Jim Riley, President of US Division at Stingray. "Our new gaming and scoring mode combined with lead melody pitch detection, turns in-car karaoke into a dynamic and interactive activity, setting a new benchmark for road entertainment."

Karaoke Product Features:

• Professional wireless karaoke microphones integrated into BYD’s infotainment system.
• Stingray’s Automotive Karaoke App includes more than 100,000 licensed songs – from today’s top charting artists to yesterday’s legends, in all the most popular genres – including pop, rock, country, R&B, hip-hop, rap, K-Pop, Disney and more!
• Karaoke gaming and scoring mode, providing an engaging experience with a wide selection of tracks, including popular songs across various genres.
• Safety first – While parked, passengers can scroll lyrics on the infotainment screen to help sing along to their favorite song, whether they’re the driver or front-seat passenger. When the vehicle is in motion, scrolling lyrics are synched on mobile devices via the Passenger App(TM) by scanning the QR code on the infotainment screen.

About Singing MachineSinging Machine is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, the Company designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Their portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world’s first globally available, fully integrated in-car karaoke system. The Company also has a new philanthropic initiative, CARE-eoke by Singing Machine, to focus on the social impact of karaoke for children and adults of all ages who would benefit from singing. Their products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam’s Club, Target, and Walmart. To learn more, go to www.singingmachine.com.

Investor Relations Contact:investors@algoholdings.comwww.singingmachine.com/investors

About BYDBYD is a multinational high-tech company devoted to leveraging technological innovations for a better life. Founded in 1995 as a rechargeable battery maker, BYD now boasts a diverse business scope covering automobiles, rail transit, new energy, and electronics, with over 30 industrial parks in China, the United States, Canada, Japan, Thailand, Brazil, Hungary, Uzbekistan, and India. From energy generation and storage to its applications, BYD is dedicated to providing zero-emission energy solutions that reduce global reliance on fossil fuels. Its new energy vehicle footprint now covers 6 continents, over 90 countries and regions. Listed in both Hong Kong and Shenzhen Stock Exchanges, the company is known to be a Fortune Global 500 enterprise that furnishes innovations in pursuit of a greener world.

About StingrayStingray (TSX: RAY.A; RAY.B), a global music, media, and technology company, is an industry leader in TV broadcasting, streaming, radio, business services, and advertising. Stingray provides an array of music, digital, and advertising services to enterprise brands worldwide, including audio and video channels, over 100 radio stations, subscription video-on-demand content, FAST channels, karaoke products and music apps, in-car and on-board infotainment content. Stingray’s Business division provides commercial solutions in music, in-store advertising systems, digital signage, and AI-driven consumer insights and feedback. Stingray Advertising is North America's largest OOH retail audio advertising network, delivering digital audio messaging to more than 30,000 major retail locations. Stingray has close to 1,000 employees, with content curators worldwide and reaches nearly 540 million consumers in 160 countries. For more information, visit www.stingray.com.

Forward Looking StatementsThis 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. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the SEC, including, without limitation the Company’s Transition Report on Form 10-KT for the transition period from April 1, 2023 to December 31, 2023, the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2024.

You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations, or as a result of new information, future events or otherwise.

Photos accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/264a3693-c7d7-48f4-8729-6ae1c6938b54https://www.globenewswire.com/NewsRoom/AttachmentNg/1fc020bc-781c-4efb-9a27-0e7632790ce8

For more information, please contact:

BYD:
Latin America: José Miranda, jose.miranda@byd.com
Europe Penny Peng, PressEU@byd.com
Asia-Pacific: Liya Huang, pr@byd.com
Brazil: Pablo Toledo, pablo.toledo@byd.com
United States: Frank Girardot, frank.girardot@byd.com
Middle East and Africa: Nikki Li, li.namin@byd.com

Stingray:
Frédérique Gagnier
Director, Communications and Partnerships
fgagnier@stingray.com