ReelTime's Q2 Revenues More Than Triple Over Same Period in 2020 While YTD Revenues Increase Over 7X

Rhea-AI Summary

Reeltime Media (OTC PINK:RLTR) announced a significant revenue increase, reporting a YTD revenue of $1,743,253 for the first half of 2021, a 707% rise from $246,507 in the same period last year. Q2 revenue also showed a robust growth, tripling to $427,509 compared to $124,347 in Q2 2020, marking a 343% increase. This surge is attributed to the easing of hospitality and travel restrictions, leading to a resurgence in advertising spending. The company expects continued growth as these trends persist.

Positive

• YTD revenue increased 707% to $1,743,253 from $246,507 year-over-year.
• Q2 revenue increased 343% to $427,509 compared to $124,347 in Q2 2020.
• Return of advertisers as hospitality and travel restrictions ease.

Negative

• None.

SEATTLE, WA, Aug. 24, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reeltime Media (OTC PINK:RLTR) reported that its YTD revenues have increased over 7X for the six month period ending June 30, 2021 compared to the six month period ending June 30, 2020. Additionally, revenues more than tripled in Q2 for the three months ending June 30, 2021 compared to the same period in 2020.

•  YTD Fiscal 2021 Revenue of $1,743,253 vs. $246,507 for YTD Fiscal 2020 – an increase of 707%
•  Q2 Fiscal 2021 Revenue of $427,509 vs. $124,347 for Q2 Fiscal 2020 – an increase of 343%

The increase in sales resulted primarily from a lifting of restrictions on hospitality and travel, which has caused advertisers to return. In addition, revenues from ReelTime’s technology licensing agreement with Barista’s Munchie Magic continue to increase. 

Barry Henthorn stated: “We are very pleased that our revenues are increasing faster than we had anticipated. As travel and other hospitality restrictions ease further, we expect the increase in spending from our media clients to continue. Based on recent developments this certainly appears to be the case.”

All recently filed financials incorporate an enhanced level of disclosure that is intended to meet the criteria of the highest levels of the OTC Markets and beyond. 

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ReelTime to Launch Roku Channel ReelTime TV to 51.2 Million Monthly Active Users, Expanding Content Distribution and Advertising Revenues Using Technology

ReelTime Media reached a technology/software license and development agreement with Baristas (OTC:BCCI) 'Munchie Magic.' The licensing agreement secures Munchie Magic global perpetual, exclusive access to use the technology and methodologies developed by ReelTime that allow the virtual restaurants to integrate with its partners, onboarding, marketing, and administrative functions for use with the Munchie Magic Virtual Restaurant or other convenience store delivery concepts.

About ReelTime Rentals, Inc. d/b/a ReelTime Media: www.reeltime.com is a publicly-traded company based in Seattle, WA (OTCPK:RLTR). ReelTime Media provides end-to-end production capabilities and discount media purchasing that is redefining how companies are evaluating and purchasing their TV, radio, print, and other new media. ReelTime is also is in the business of developing, producing and distributing Virtual Reality Content and technologies. We have an end to end production, editing, and distribution capabilities for internal and external projects. ReelTime Currently produces three ongoing series for the Samsung Gear VR platform and distributes them over numerous VR delivery portals, including Gear VR, Oculus, Veer VR, HTC Vive, YouTube 360, Facebook, and others. ReelTime Media also publishes the book 'It Was Always Me! Edward Edwards, the Most Prolific Serial Killer of All Time,' which has been the subject of a cover story on People Magazine, Rolling Stone, In Touch, and a six-part series on Paramount network, www.itwasalwaysme.com.

CONTACT:

Barry Henthorn
ceo@reeltime.com

FAQ

What are Reeltime Media's revenue figures for 2021?

Reeltime Media reported a year-to-date revenue of $1,743,253, representing a 707% increase compared to the same period in 2020.

How much did Reeltime Media's Q2 revenue grow in 2021?

In Q2 2021, Reeltime Media's revenue reached $427,509, a 343% increase from $124,347 in Q2 2020.

What factors contributed to the revenue increase for Reeltime Media?

The increase in revenues was primarily due to the lifting of hospitality and travel restrictions, resulting in a return of advertisers.

What is the stock symbol for Reeltime Media?

Reeltime Media is traded under the stock symbol RLTR.