We’d like to spotlight Loop Media, Inc. (NYSE American: LPTV), a stock currently priced at $2.90 and deserving of your immediate focus. B. Riley Securities, a top financial services firm, initiated coverage on Loop Media earlier in June, setting an optimistic rating and a 12-month target of $5 per share. This optimistic outlook is underpinned by the ongoing transition of advertising budgets towards digital platforms, placing Loop Media in an advantageous position. The firm forecasts robust revenue growth for digital out of home (DOOH) advertising, suggesting a bright future for Loop Media (source).
Loop Media, Inc (NYSE American: LPTV) is a key player in the DOOH TV and digital signage landscape, serving businesses with its Loop TV service. This service offers free content across various genres including music videos, news, sports, and entertainment. As the leading U.S. company licensed to stream music videos to businesses through its proprietary Loop Player, Loop Media’s digital video content reaches millions of DOOH viewers at locations ranging from bars, offices, and retail outlets to campuses, airports, gas stations, and free ad-supported TV platforms.
Powering Loop Media is a comprehensive library of short-form entertainment content featuring music videos, movie trailers, branded content, and live performances. Loop’s non-music channels span diverse genres and moods, delivering movie trailers, sports highlights, lifestyle and travel videos, viral content, and more. Loop Media generates its revenue through multiple avenues such as advertising, sponsorships, integrated marketing, branded content, and subscriptions.
A significant recent development occurred on June 22, 2023, when Loop Media (NYSE American: LPTV) announced its collaboration with Orange Door, a leading entertainment distributor in New Zealand. This partnership aims to extend Orange Door’s offerings in New Zealand and Australia, tapping into business verticals previously beyond Orange Door’s reach, such as healthcare, retail, and grocery sectors.
Orange Door CEO Ross Vickers lauded the partnership stating that it would enable them to expand into the out-of-home market, beginning with New Zealand, offering enhanced opportunities in the retail, fitness, medical, and hospitality sectors through Loop’s best-in-class player and its curated entertainment channels.
Earlier, on June 08, 2023, Loop Media (NYSE American: LPTV) partnered with Pypestream, a leading self-service automation platform, to integrate AI into Loop Media’s entertainment business venue experience. This partnership allows Loop Media to ensure that relevant content is delivered to the right audience at the right time in each location, utilizing machine learning to comprehend business processes and thus make logical content recommendations based on demographic, operator preference, venue style, and business type, among other data.
For a comprehensive understanding of why Loop Media, Inc. (AMEX: LPTV) is positioned for substantial growth in 2023, click HERE.
In today’s market activity, several companies have witnessed noteworthy shifts. Opendoor Technologies Inc. (OPEN) saw an increase of 4.28%, taking its last recorded price to $4.1504. The company’s volume was at 8.73 million, lower than its average volume of 24.07 million over the past three months, while its market cap stood at $2.69 billion. Meanwhile, Archer Aviation Inc. (ACHR) experienced an impressive 17.88% surge, with its stock price landing at $4.5385. The trading volume was 4.35 million, slightly higher than its three-month average of 2.93 million, and the market cap registered at $1.12 billion. On the AI front, SoundHound AI, Inc. (SOUN) recorded a 1.91% rise, with its stock price marking at $4.7999. Its trading volume was at 7.80 million, and it held a market cap of $1.04 billion. Finally, Nikola Corporation (NKLA) reported a 12.07% increase, bringing its price to $1.3. The trading volume was a substantial 14.94 million against its three-month average of 48.10 million, and it marked a market cap of $931.82 million
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