Welcome to our dedicated page for Bright Mountain news (Ticker: BMTM), a resource for investors and traders seeking the latest updates and insights on Bright Mountain stock.
Bright Mountain Media (BMTM) delivers integrated digital media solutions through targeted content, advertising networks, and military-inspired ecommerce. This news hub provides investors and industry observers with timely updates on corporate developments shaping the company's niche market position.
Access official press releases and verified news covering earnings reports, strategic partnerships, leadership updates, and operational milestones. Our curated collection enables efficient tracking of BMTM's progress across its three core divisions: digital publishing for military communities, audience-specific advertising solutions, and lifestyle product development.
Key content categories include financial disclosures, content platform expansions, advertising network enhancements, and product line updates. All materials maintain strict adherence to factual reporting standards, providing reliable insights for market analysis.
Bookmark this page for direct access to BMTM's latest developments as the company continues innovating at the intersection of digital media and specialized audience engagement.
Bright Mountain Media (OTCQB: BMTM) has appointed Elaine Riddell as Non-Executive Director of the Governance Committee. Riddell brings over 15 years of experience as a CEO, driving transformative growth in global data, analytics, and consulting firms. Her track record includes tripling revenue growth rates and scaling businesses rapidly while maintaining attractive margins.
Additionally, Matt Drinkwater, the company's CEO, has been appointed Interim Chairman of the Board. This change comes amid significant strategic and financial transformations, including strategic acquisitions, debt restructuring, governance enhancements, and business transformation initiatives. These moves aim to strengthen Bright Mountain Media's position in the global marketing services landscape and drive long-term success.
Bright Mountain Media, Inc. (OTCQB: BMTM) reported its Q2 2024 financial results, showing a 3% revenue increase to $13.0 million compared to Q2 2023. The company's half-year revenue saw a significant 80% jump to $25.5 million. CEO Matt Drinkwater highlighted a key credit amendment enhancing financial flexibility and successful integration of Big Village and Deep Focus acquisitions. The company's focus is on unlocking synergies, launching innovative products, and advancing an AI-driven marketing services platform.
Q2 2024 saw improvements in advertising technology revenue, offset by declines in digital publishing. The company reported a net loss of $5.2 million, a 14% decrease from Q2 2023. Adjusted EBITDA loss improved to $920,000 from $1.9 million in the same period last year. For the first half of 2024, BMTM reported a net loss of $10.0 million, with an Adjusted EBITDA loss of $2.0 million, showing improvement from the $3.9 million loss in H1 2023.
Bright Mountain Media, Inc. (OTCQB: BMTM) has amended its credit agreement with Centre Lane Partners, resulting in the deferral of certain 2024 payments. Key changes include: extending the Nineteenth Amendment Term Loan maturity to December 31, 2024; adjusting repayment terms; and modifying Last Out Loans amortization. The amendment provides additional financial flexibility for the company's growth plans.
Additionally, Bright Mountain announced the retirement of W. Kip Speyer as Chairman of the Board and the resignation of director Harry Schulman. CEO Matt Drinkwater expressed gratitude for their contributions and optimism about the company's continued partnership with Centre Lane Partners.
Bright Mountain Media (BMTM) announced its financial results for Q1 2024, highlighting a significant revenue increase to $12.4 million, up from $1.5 million in Q1 2023. The gross margin also rose to $3.1 million from $528,000 in the previous year. This growth is attributed to the Big Village Acquisition.
Advertising technology revenue reached approximately $2.6 million, with digital publishing revenue at $434,000. Consumer insights, creative services, and media services, new offerings from the Big Village Acquisition, generated revenues of $6.7 million, $2.1 million, and $641,000 respectively.
However, the cost of revenue surged to $9.3 million due to new costs from the acquisition. General and administrative expenses increased to $5.2 million. Despite the revenue growth, the net loss widened to $4.8 million from $3.8 million in Q1 2023, although the adjusted EBITDA loss improved to $1.2 million from $2.1 million.
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