Bright Mountain - BMTM STOCK NEWS

Bright Mountain Media announced the acquisition of Big Village’s Insights and Agency divisions for approximately $20 million in an all-cash deal funded by a senior secured credit facility. This acquisition is projected to add about $50 million in annualized revenue and be immediately accretive to 2023 Adjusted EBITDA through revenue and cost synergies. The transaction aligns with Bright Mountain's strategy to enhance its data-driven insights capabilities and provide comprehensive advertising and marketing services. CEO Matt Drinkwater emphasized the importance of consumer insights for marketing success, aiming to integrate the expertise of both companies to boost innovation and growth.

Bright Mountain Media, Inc. (OTCQB: BMTM) announced its audited financial results for 2022, showcasing a successful year with significant growth. Revenue increased by 51% to $19.6 million, while fourth-quarter revenue rose 20% to $5.2 million compared to Q4 2021. The net loss improved to $8.1 million, a 32% reduction from the previous year. General and administrative expenses saw a significant decrease of 23% to $14.2 million. The company's CEO noted challenges ahead in 2023 while expressing confidence in future growth and product development.

Mom.com, part of Bright Mountain Media (OTCQB: BMTM), has launched the Black Maternal Health Matters initiative to address the significant health disparities faced by Black mothers. This monthlong event focuses on raising awareness of the Black maternal health gap, which sees Black women three times more likely to die from pregnancy-related causes than their white counterparts. The initiative includes informative content, weekly Instagram Live sessions with experts, and personal essays from Black moms. The goal is to create a supportive community that empowers Black women and shares vital information on maternal health.