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Wednesday, October 5, 2022

Loop Media Inc (OTCMKTS: LPTV) On the Move as Co Behind Loop.tv Prepares to Up List to NYSE and Affect a 3 for 1 Reverse Stock Split

Loop Media Inc (OTCMKTS: LPTV) was up over 18% on Tuesday after the Company announced it will undergo an uplisting to the NYSE American and its common stock will trade on the NYSE American under the ticker “LPTV,” expected on or around September 22, 2022. Prior to the pricing of the Offering, Loop will consummate a reverse stock split of its outstanding shares of common stock on a 1-for-3 basis.  

The Reverse Stock Split is expected to become effective around 4:01 PM ET on Tuesday, September 20, 2022, and Loop’s common stock is expected to begin trading on the OTC Pink Open Market on a split-adjusted basis under the temporary ticker symbol “LPTVD” at market open on Wednesday, September 21, 2022. The D will be removed after 20 days. Accordingly, the number of shares of common stock outstanding following the reverse stock split will be reduced from 153,539,596 shares to approximately 51,179,865 shares. 

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Loop Media, Inc. (OTC: LPTV) is a multichannel digital video platform media company that uses marketing technology, or “MarTech,” to generate our revenue and offer our services. The Company’s technology and vast library of videos and licensed content enable it to curate and distribute short-form videos to out-of-home (“OOH”) dining, hospitality, retail and other locations and venues to enable them to inform, entertain and engage their customers. Loop’s technology provides third-party advertisers with a targeted marketing and promotional tool for their products and services and, in certain instances, allows it to measure the number of potential viewers of such advertising and promotional materials. The Company also allows OOH customers to access its service without advertisements by paying a monthly subscription fee. In addition to providing services to OOH venue operators, Loop currently provides its services direct to consumers (“D2C”) in their homes on connected TVs (“CTVs”) and on their mobile devices. 

Loop Media offers self-curated music video content licensed from major and independent record labels, as well as movie, television and video game trailers, kid-friendly videos, viral videos, drone footage, news headlines, and lifestyle and atmospheric channels. The Company distributes its content and advertising inventory to OOH locations primarily through (i) its owned and operated platform (“O&O Network”) of Loop Media-designed “small-box” streaming Android media players (“Loop Players”) and legacy ScreenPlay computers and (ii) through screens on digital networks owned and operated by third parties (“Partner Network”, and together with the O&O Network, the “Loop Network”). Loop moved to an advertising-based model and ramped up distribution of Loop Players for its O&O Network starting in early 2021. As of June 30, 2022, the Company had 12,584 quarterly active units (“QAUs”). Loop launched its Partner Network business beginning in early May 2022 with one partner on approximately 5,000 of the partner’s screens, and rolled out to the remaining 12,000 screens in that network as of mid-May 2022, remaining at approximately that level as of early-August 2022. Loops legacy businesses, including its content subscription-based business and its CTV business, complement these newer businesses. 

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Loop Media’s digital video content reaches thousands of consumers in OOH locations including bars/restaurants, office buildings, retail businesses, and on free, ad-supported TV platforms like Roku and at local gas stations on GSTV terminals and in 400,000 hotel rooms in over 1,300 hotels in the United States. 

Loop is fueled by one of the largest and most important libraries that includes music videos, movie trailers and live performances. Loop Media’s non-music channels cover a multitude of genres and moods and include movie trailers, sports highlights, lifestyle and travel videos, viral videos and more. Loop Media’s streaming services generate revenue from advertising, sponsorships, integrated marketing and branded content from free-ad-supported-television (“FAST”) and from subscription offerings. 

In August Loop completed the roll out of a new user experience on its proprietary streaming media hardware, the Loop Player. The Loop Player’s new interface is the plug-and-play, turnkey gateway to 145+ channels of music and non-music channels optimized for consumption in the Digital Out Of Home (DOOH) environment. The new user experience brings an image-based layout of icons popular with leading consumer streaming services and is more intuitive and streamlined when it comes to navigation and search. Highly requested features such as on-screen widget controls, video restrictions, and channel overviews have been added, while the new search functionality easily highlights channels for every business type and scenario. 

Loop’s end-to-end DOOH solution for businesses has been recognized for excellence time and again. Since launching, Loop has received countless satisfied business operator testimonials, and recently won Digiday’s 2022 Media Awards for “Best Video Programming and Distribution Strategy.”  

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Currently trading at a $400 million market valuation LPTV OS is 153,539,596 which will be down to 51,179,865 shares after the reverse split. The Company has seen significant growth over the past year as reflected in their fast-growing revenues of $10.8 million for the 3 months ended June 30, 2022 up from $1.1 million for the same quarter in 2021. As we have covered here on the website many times reverse stock splits to fuel more dilution always end up badly for shareholders but when a real Company does a RS to uplist the sp is usually positively affected. As LPTV moves to the big boards and loop.tv continues to see enormous growth this is a stock to watch. We will be updating LPTV as events unfold so make sure you are subscribed to Microcapdaily.

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Disclosure: we hold no position in LPTV either long or short and we have not been compensated for this article.

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