ReelTime's YTD Revenues Increase 7X as Q2 More than Triples Over Same Period in 2020

Rhea-AI Summary

Reeltime Media (OTC PINK:RLTR) announced a significant revenue increase, reporting YTD revenues of $1,743,253, a staggering 707% rise from $246,507 in the same period last year. Q2 revenues also surged to $427,509, reflecting a 343% increase compared to Q2 2020. This growth is attributed to the easing of hospitality and travel restrictions, prompting a return of advertisers. The company continues to benefit from a technology licensing agreement with Barista's Munchie Magic. Management anticipates ongoing revenue growth as market conditions improve.

Positive

• YTD revenue increased 707% to $1,743,253.
• Q2 revenue rose 343% to $427,509.
• Growth driven by advertisers returning as travel restrictions ease.
• Continued revenue growth from technology licensing agreement with Barista's Munchie Magic.

Negative

• None.

SEATTLE, WA / ACCESSWIRE / August 24, 2021 / 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 continues 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 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

SOURCE: ReelTime Rentals Inc.

View source version on accesswire.com:
https://www.accesswire.com/661116/ReelTimes-YTD-Revenues-Increase-7X-as-Q2-More-than-Triples-Over-Same-Period-in-2020

FAQ

What were Reeltime Media's revenue figures for YTD Fiscal 2021?

Reeltime Media reported YTD revenues of $1,743,253 for Fiscal 2021, marking a 707% increase from the previous year.

How much did Reeltime Media's Q2 revenues increase compared to Q2 Fiscal 2020?

Q2 revenues for Reeltime Media increased by 343%, reaching $427,509 compared to $124,347 in Q2 Fiscal 2020.

What is the primary reason for Reeltime Media's revenue growth?

The revenue growth is primarily attributed to the lifting of hospitality and travel restrictions, leading to a resurgence in advertising.

What technology agreement is benefiting Reeltime Media?

Reeltime Media is benefiting from a technology licensing agreement with Barista's Munchie Magic, which continues to drive revenue.