Loop Media, which provides a multichannel digital video media platform to OOH and third-party advertisers, filed on Friday with the SEC to raise up to $12 million in a Nasdaq uplisting. The company currently trades on the OTC Markets under the symbol LPTV; it closed on Friday with a market value of $347 million.
Loop Media is a multichannel digital video platform company that uses marketing technology, or “MarTech,” to generate revenue for its services. The company 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. To the company's knowledge, it is the only service in the US that has OOH and D2C licenses with all three major music labels, Universal Music Group (“Universal”), Sony Music Entertainment (“Sony”), and Warner Music Group (“Warner”). Loop's OOH services are complimented by its mobile app, which allows users to follow each other, share their locations and playlists, view activity, and signal support for a music video.
The Glendale, CA-based company was founded in 2015 and booked $5 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol LPTV. Roth Capital is the sole bookrunner on the deal. No pricing terms were disclosed.
