Loop Media is giving its customers a way to develop and create their own branded entertainment channels.
The Burbank-based short form-video distributor is making the new service free to its enterprise customers.
According to a release from Loop Media, the company will curate for its enterprise clients a channel that is brand- and business-specific.
“Some advertising and streaming platforms charge businesses up to hundreds of thousands of dollars to create a customized business channel,” the company said. “Loop Media now does this for free and makes it easy and seamless for enterprise businesses to have their own branded channel on their venue screens distributed via the Loop TV network and the highly secure Loop Player.”
Jon Niermann, the chief executive of Loop Media, said that enterprise businesses are consistently looking for ways to control costs as they seek to grow revenue and attract new customers.
“Their in-venue screens are a powerful way to do that, by providing their own branded content to entertain customers and increase dwell time, while showcasing and enhancing their brand, services and products,” Niermann said in a statement. “Loop Media can help drive this process at no cost to the business.”
Differentiating itself from others
Torrae Lawrence-Mitchell, vice president of enterprise for Loop Media, said the company knows how important it is for its enterprise clients to differentiate themselves from the competition.
“The ‘Customized Business Channel’ is just another example of how Loop TV continues to reinforce its commitment to delivering innovative solutions to meet the demands of our enterprise clients,” Lawrence-Mitchell added in a statement.
And the company’s Chief Revenue Officer Bob Gruters said that more advertisers today want brand-safe media, especially when buying digital video.
He believes that that the company’s small- and medium-business and large-enterprise product is exactly what many media buyers are looking for.
“Our premium brand-safe (connected TV) platform reaches consumers where they are now, efficiently extending advertiser audience reach,” he said. “At Loop Media, we continue to look for ways to democratize the TV channel distribution business and media buying for all brand sizes.”
Loop TV’s digital video content is streamed to millions of viewers in connected TV, streaming and digital out-of-home locations, including bars and restaurants, office buildings, retail businesses, college campuses, airports and hotels, among many other venues in the United States, Canada, Australia, and New Zealand.
Loop Media’s streaming services generate revenue from programmatic and direct advertising, and subscriptions, it added.
Most recent earnings report
On Feb. 6, Loop released its fiscal first-quarter financials.
For the quarter ending Dec. 31, the company recorded a net loss of $5.3 million (-9 cents a share), compared with the same amounts in the same period of the previous year. Revenue decreased by 31% from the fiscal first quarter of the prior year to $10.2 million.
In his comments on Loop’s quarterly results, Niermann said that they were strong and that, unlike the first quarter of fiscal year 2023, this year’s first-quarter revenue contained no political advertising spend and was purely organic revenue from the core business.
He said the increased awareness of the Loop TV brand and the expansion of distribution over the past year on Loop’s platforms and screens demonstrated that its sales and marketing efforts are bringing in new clients.
At the end of the first quarter, Loop had about 77,000 active Loop players and partner screens across its platform.
“Our approach is to leverage our business model to continue to gain new customers on a consistent basis while focusing on the venues and markets that we know provide the best return on our investment and potential for revenue growth,” Niermann said.
