LPTV Overview

Earnings Report Overview: Loop Media Inc. reported a challenging fiscal year 2024 with a 30% revenue decline to $22.3 million and a net loss of $24.5 million, though this was an improvement from the previous year's loss of $32.0 million.

Future Strategies: The company aims to achieve cash flow positivity by enhancing its technological infrastructure and streamlining its business model, focusing on software upgrades and cost management to improve financial performance in the upcoming fiscal year.

Financial Performance Overview: Loop Media, Inc. reported a significant decline in revenue for fiscal year 2024, with total revenue dropping to $22.3 million from $31.6 million in 2023, and a net loss of $(24.5) million compared to $(32.0) million the previous year.

Operational Changes and Future Outlook: Interim CEO Justis Kao emphasized efforts to achieve cash flow positivity by streamlining operations, reducing costs, and upgrading technology to enhance advertisement delivery, aiming for improved performance in the upcoming fiscal year.

Conference Call Announcement: Loop Media, Inc. will host a conference call on December 10, 2024, at 5:00 p.m. Eastern Time to discuss its financial and operating results for the fiscal year 2024 and fourth quarter ending September 30, 2024.

Company Overview: Loop Media is a leading streaming platform providing music videos, sports highlights, and entertainment channels, primarily targeting businesses across various venues in the U.S., Canada, Australia, and New Zealand.

Company's Financial Struggles: Loop Media, Inc. is facing a potential foreclosure by its senior lender, GemCap Solutions, due to an alleged default on loan agreements, despite the company continuing to make scheduled payments.

Legal Action Taken: In response to the foreclosure announcement, Loop Media has filed for an Emergency Temporary Restraining Order to prevent GemCap from proceeding with the sale of assets and to halt any public disclosures related to the situation.

Partnership Announcement: Loop Media has formed a strategic partnership with Vesta Stream Studios to expand its streaming services into residential spaces, integrating curated FAST channels and premium AVOD content for consumers in homes and vacation rentals.

Goals of Collaboration: The partnership aims to bridge the gap between commercial and residential entertainment, enhancing user experience while maximizing revenue through targeted advertising across diverse viewing environments.

Loop Media's Uplisting Plans: Loop Media, Inc. intends to apply for its common shares to be uplisted to the OTCQB Venture Market, which would enhance transparency and liquidity for investors while maintaining its trading symbol LPTV.

Company Overview: Loop Media is a leading streaming platform providing music videos, sports highlights, and entertainment channels for businesses across various venues in the U.S. and internationally, supported by a significant library of digital content.