CBS.WD Cbs Corp.

   By Colin Kellaher 
 

Singing Machine Co. (SMDM) on Thursday said it will launch a line of products based on "Carpool Karaoke," the viral segment from James Corden's "Late Late Show," under a three-year licensing deal with a unit of CBS Corp. (CBS), which airs the show.

Singing Machine said it will unveil its first Carpool Karaoke product this weekend at the annual New York Toy Fair.

According to toybook.com, the initial product is a wireless, hand-held microphone that connects to a vehicle's system to broadcast the user's voice through the vehicle's speakers and also connects to phones via Bluetooth to stream songs from a music library or app. The microphone also has lights that pulse and sync with the music, toybook.com reports.

Singing Machine, a Fort Lauderdale, Fla., company known for its consumer karaoke products, said royalty payments to CBS will be calculated at 9% of sales up to the first 150,000 units and 10% of sales thereafter.

Singing Machine, which has been stung by the bankruptcy and liquidation of Toys "R" Us, earlier Thursday reported a 9% decline in quarterly sales, noting that other retailers haven't significantly replaced its lost Toys "R" Us sales.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

February 14, 2019 11:59 ET (16:59 GMT)

Cbs Corp. (NYSE:CBS.WD)
Historical Stock Chart
From Dec 2024 to Jan 2025

Cbs Corp. (NYSE:CBS.WD)
Historical Stock Chart
From Jan 2024 to Jan 2025