Bright Mountain Stock Price, News & Analysis

Bright Mountain Media (OTCQB: BMTM) announces the appointment of Jonathan Slavin as Chief Revenue Officer to enhance its Technology Division growth in 2023. Following a successful 2022, the strategic move underscores the company's commitment to expanding its leadership in the CTV space. CEO Matt Drinkwater highlights Slavin's track record in fostering revenue growth, while Todd Speyer transitions to SVP of Revenue Operations to support ongoing advancements. The Technology Division is projected to continue strong growth, capitalizing on new AVOD inventory opportunities.

Bright Mountain Media (BMTM) reported a strong third quarter, achieving a 38% increase in revenue, totaling $5.2 million compared to $3.8 million in Q3 2021. The gross margin improved 2% to $2.1 million. Despite a net loss of $1.9 million, this marked a 34% improvement from the $2.9 million loss the previous year. The company continues to see growth in its Technology division, and general administrative expenses decreased by 28% to $3.3 million. Overall, the outlook remains optimistic with ongoing initiatives planned for future growth.

Bright Mountain Media, Inc. (OTCQB: BMTM) reported a successful third quarter with a 38% revenue increase to $5.2 million over Q3 2021. Gross margin rose to $2.1 million, up 2% year-over-year. The company improved its net loss to $1.9 million, a 34% improvement from $2.9 million in 2021. Adjusted EBITDA loss was slightly wider at $509,000. Over nine months, revenue surged to $14.4 million, a 67% increase, while net loss reduced from $9.1 million to $5.2 million. Management remains optimistic about growth despite economic challenges.

Bright Mountain Media (OTCQB: BMTM) announced its participation in the LD Micro Main Event XV, dubbed the “Woodstock of Micro-cap,” scheduled for October 25-27, 2022 at the Luxe Sunset Boulevard Hotel, Los Angeles. CEO Matt Drinkwater will present on October 26 at 11:00 a.m. ET and will conduct one-on-one meetings with institutional investors. Those interested in a virtual participation can register for the webcast. Bright Mountain Media is known for its comprehensive digital media and advertising services, connecting brands directly with targeted demographics, thereby enhancing advertising efficiency.

Bright Mountain Media, Inc. (OTCQB:BMTM) recently launched its zero-party data platform, MomIndex™, designed to gather real-time insights from moms, a vital consumer demographic. This initiative seeks to enhance engagement by enabling brands to access voluntarily shared data, which is more reliable than traditional third-party data. CEO Matt Drinkwater emphasized the platform's role in fostering deeper connections with mothers, while SVP Justin Santino highlighted its importance in navigating economic challenges. The platform aims to inform advertising and ecommerce strategies, with ongoing findings to be shared in upcoming months.

Bright Mountain Media (BMTM) reported significant growth in its financial results for Q2 and the first half of 2022. Revenue reached $5.7 million for Q2, a substantial increase from $2.4 million in the same period last year. For the six months ended June 30, revenue totaled $9.2 million, up from $4.8 million. Gross margins improved to 49.3% in Q2 from 39.3%, and to 50.0% for the six months, up from 41.2%. Adjusted EBITDA for Q2 was $0.3 million. CEO Matt Drinkwater expressed optimism about ongoing growth and strategic acquisitions.

Bright Mountain Media (OTC: BMTM) is set to host a Spanish-language webinar titled “Hacia el Futuro: Lo más valioso que puedes darle a tus hijos para que tengan éxito”, focusing on financial success for children. This interactive event will take place on May 21 at 2 p.m. ET as part of the month-long initiative Money Moves May. Prominent figures like Lourdes Stephen and Natalie Cruz will lead discussions aimed at improving money management skills among kids. This initiative aims to empower Latino families with essential financial strategies.

Bright Mountain Media (OTC Expert: BMTM) has appointed Matt Drinkwater as the new Chief Executive Officer, effective immediately. Drinkwater brings extensive experience from high-profile companies like Buzzfeed and Twitter, where he excelled in digital media and strategic partnerships. Kip Speyer will remain as Chairman of the Board. This leadership change aims to advance the company’s growth in the digital media landscape, leveraging Drinkwater's background in operational optimization and media sales.

Bright Mountain Media (OTC: BMTM) announced preliminary revenue results for Q4 2020, projecting revenues of at least $6.6 million, a 112% increase from $3.1 million in Q4 2019. This growth aligns with a total estimated revenue of $16 million for FY 2020, marking a 130% increase over $7 million in 2019. The revenue rise is attributed to the successful integration of the Wild Sky Media acquisition. Final results will be confirmed in the upcoming 10-K filing.