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BURBANK, Calif., August 29, 2024--(BUSINESS WIRE)--Loop Media, Inc. ("Loop Media" or "Loop" or the "Company") (OTC: LPTV), a leading multichannel streaming CTV platform that provides curated music videos, sports highlights, news, premium entertainment channels, digital signage, select live sports and other channels for businesses settles in for continued focus on growth in the coming quarters.
"Our roadmap is straightforward," said Justis Kao, Interim CEO. "We’ve worked hard over the past year to significantly reduce our costs and strengthen our bottom line. These efforts are leading to more efficient, streamlined operations as we hone our distribution strategy to expand our footprint of high quality Loop TV players in businesses of all sizes nationwide. Our goal is for our revenue to keep pace with our development strategy in a growing CTV OOH ad market. We are committed to our expansion goals and will aggressively seek further opportunities to see our strategy through."
With this focus on expansion and enhancing its business clients’ customer experiences in mind, Loop Media has recently entered into new partnerships with premium content partners, including Network Communications to offer live sports with subscription offerings for channels like the NFL Network and NFL RedZone, and Red Bull to offer its high quality sports and culture content. The Company has also received certifications validating the quality of their ad inventory going into what has historically been their strongest quarter of the year.
"I have always believed in Loop Media and the team," said Bruce Cassidy, Executive Chairman of Loop Media. "That belief has not wavered. Regardless of whether we are listed on the NYSE or OTC, we are very much focused on adding to the value of our company for our shareholders, many of whom have been with us since the beginning. I am confident that we have a plan in place that can yield positive results to get the Company to where we know it can be, and even beyond."
About Loop Media, Inc.
Loop Media, Inc. ("Loop®") (OTC: LPTV) is a leading connected television (CTV) / streaming / digital out-of-home TV and digital signage platform optimized for businesses, providing music videos, news, sports, and entertainment channels through its Loop® TV service. Loop Media is the leading company in the U.S. licensed to stream music videos to businesses through its proprietary Loop® Player.
Loop® TV’s digital video content is streamed to millions of viewers in CTV / streaming / digital out of home locations including bars/restaurants, office buildings, retail businesses, college campuses, airports, among many other venues in the United States, Canada, Australia, and New Zealand.