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Loop Media, Inc., based in Palo Alto, California, is a streaming media company providing commercial streaming video products and solutions for businesses and consumers. Loop TV offers a plug-and-play option with applications for Amazon Fire TV, Roku, Apple TV, and smart TVs, while Loop Screencast caters to businesses. The company specializes in premium short-form video content, including music videos, film, game, and TV trailers. Loop Media utilizes marketing technology to deliver content in various settings like hospitality, dining, retail venues, branded media sites, and over-the-top TV platforms. The company's innovative approach and diverse content offerings have positioned it as a leading player in the digital media landscape.
Loop Media (OTC: LPTV) reported its fiscal year 2024 and Q4 results, showing significant revenue decline but improved bottom line metrics. Revenue decreased 30% to $22.3 million in FY2024 from $31.6 million in FY2023. Net loss improved to $(24.5) million or $(0.33) per share, compared to $(32.0) million or $(0.56) per share in FY2023.
The company's Q4 2024 revenue fell 35% to $3.7 million, with net loss improving to $(6.2) million. The decline was attributed to reduced political ad placements and overall challenging ad market conditions. The company ended the period with 27,811 QAUs on its O&O Platform and approximately 49,000 Partner Screens.
Loop Media (OTC: LPTV), a multichannel streaming CTV platform provider, has scheduled its fiscal year 2024 and fourth quarter earnings conference call for December 10, 2024, at 5:00 p.m. ET. The company will discuss financial and operating results for the period ended September 30, 2024.
The call will be accessible via toll-free dial-in numbers for both domestic (1-800-715-9871) and international (1-646-307-1963) participants. A replay will be available on Loop Media's investor relations website at ir.loop.tv.
Loop Media (OTC: LPTV) announced filing an emergency temporary restraining order against its senior lender, GemCap Solutions, following GemCap's public announcement of a planned sale of Loop's personal property. The sale, scheduled for December 5, 2024, relates to an alleged default under loan agreements. Loop states it has been making regular scheduled payments and seeks to prevent GemCap from exercising default remedies and making public disclosures. The company vows to defend itself to protect its assets, employees, and partners.
Loop Media, Inc. (OTC: LPTV) has announced a strategic partnership with Vesta Stream Studios, to expand its reach into residential spaces. This collaboration aims to bring curated FAST channels and premium content to Loop TV, marking a significant evolution in Loop Media's service offerings.
Key points of the partnership include:
- Vesta Stream will curate dedicated FAST channels for Loop TV
- Loop Media will integrate Vesta Stream as an app into its devices for residential settings
- The partnership includes a strategic ad inventory split for revenue generation
- Content will be available in homes and vacation rentals like AirBnBs and VRBO
- Users will have access to Vesta's premium AVOD and TVOD offerings
This collaboration aims to enhance the viewing experience for consumers across various environments and expand Loop Media's footprint beyond the commercial sector.
Loop Media, Inc. (OTC: LPTV), a leading multichannel streaming CTV platform, has announced its intention to apply for uplisting to the OTCQB Venture Market in the United States. The OTCQB, operated by OTC Markets Group Inc., offers transparent trading for entrepreneurial and development-stage U.S. companies. To be eligible, companies must be current in reporting and undergo annual verification.
Potential benefits of trading on the OTCQB include increased liquidity, visibility, and enhanced shareholder value. If successful, Loop Media expects to continue trading under the symbol LPTV. The uplisting is subject to approvals and satisfaction of OTCQB standards. Loop Media provides curated music videos, sports highlights, news, and other content for businesses nationwide.
Loop Media, Inc. (OTC: LPTV), a leading multichannel streaming CTV platform, is focusing on strengthening its bottom line and expanding its footprint after transitioning from NYSE to OTC trading. Interim CEO Justis Kao emphasized the company's efforts to reduce costs and streamline operations, aiming to align revenue with their development strategy in the growing CTV OOH ad market.
Loop Media has entered new partnerships with premium content providers, including Network Communications for live sports channels and Red Bull for sports and culture content. The company has also received certifications validating their ad inventory quality. Executive Chairman Bruce Cassidy expressed confidence in the company's plan to add value for shareholders, regardless of their listing venue.
Loop Media, a leading multichannel streaming CTV platform, announced on August 8, 2024, that it received a notification from NYSE Regulation of NYSE American regarding the suspension and pending delisting of its common stock due to low selling prices. The company has the right to appeal, but success is not guaranteed. Starting August 9, 2024, Loop Media's stock will trade on the OTC Pink Current under the symbol 'LPTV.' For further details, refer to the company's Form 8-K filed with the SEC on August 9, 2024, available on Loop Media's investor website.
Loop Media (NYSE American: LPTV) reported financial results for its 2024 fiscal third quarter ended June 30, 2024. Revenue decreased 23% to $4.4 million compared to $5.7 million in Q3 2023, primarily due to a challenging ad market. Net loss improved to $(5.5) million or $(0.07) per share, compared to $(7.9) million or $(0.14) in the same period last year. Gross profit decreased to $0.9 million with a margin of 20.9%.
The company continued cost-cutting initiatives, reducing SG&A expenses by 35% year-over-year to $4.1 million. Loop Media had 30,486 quarterly active units on its Owned and Operated Platform, down 13% year-over-year, but increased Partner Screens by 38% to approximately 51,000. The company is focusing on increasing revenues, leveraging expenses, and improving profitability through streamlined operations and new subscription offerings.
Loop Media (NYSE American: LPTV), a leading multichannel streaming CTV platform, has announced its 2024 fiscal third quarter conference call scheduled for August 7, 2024, at 5:00 p.m. Eastern Time. The call will discuss financial and operating results for the quarter ended June 30, 2024. Participants can join via a toll-free number or an international dial-in option. The conference call will also be available for replay on Loop Media's investor relations website.
Loop Media (NYSE American: LPTV) has announced a major enhancement to its content offering through an affiliation with Network Communications. This partnership allows Loop to offer 40 live channels to its out-of-home customers, including highly sought-after sports channels like NFL RedZone and NFL Network. The new subscription service will be available just in time for the 2024-25 sports season.
In addition to sports, Loop will offer themed channels covering comedy, news, pets, cuisine, and more. This expansion addresses the top content requests for bars, restaurants, universities, and gyms. Loop Media, already the largest provider of music videos to US businesses, is now positioned to meet the demand for live sports content in commercial venues.
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