Bright Mountain Media, Inc Announces Fourth Quarter and Full-Year 2023 Financial Results

BOCA RATON, Fla. - April 2, 2024 - PRLog -- Bright Mountain Media, Inc. (BMTM) ("Bright Mountain" or the "Company"), a global holding company with current investments in digital publishing, advertising technology, consumer insights, and creative media services , today announced its financial results for the fourth quarter and year ended December 31, 2023 and 2022.

• Fourth quarter revenue increased 193% to $15.1 million compared to the fourth quarter of 2022 .
  
  
• Fourth quarter gross margin increased 71% to $4.1 million compared to the fourth quarter of 2022 .
  
  
• 2023 revenue increased 128% to $44.5 million , compared to the full-year of 2022 .
  
  
• Gross margin increased 41% to $12.8 million , compared to the full-year of 2022 .

Bright Mountain Media CEO, Matt Drinkwater commented on the Company's results saying, "2023 was a transformative year for Bright Mountain Media, both financially and strategically. The addition of Big Village Insights and Deep Focus Agency has accelerated and solidified our vision for being our customers' central nervous system for marketing. With technology, data, and creativity at our core, we continue guiding our customers through a challenging and complex marketing landscape. Looking forward, we remain focused on profitable growth by developing products and launching go-to-market strategies that capitalize on the strengths of our four unique operating companies. We are well positioned to source new opportunities, both organically and through smart M&A, to meet our customers' needs and to drive the next wave of growth for Bright Mountain Media.

About Bright Mountain Media

Bright Mountain Media, Inc. (BMTM) unites a diverse portfolio of companies to deliver a full spectrum of advertising, marketing, technology, and media services under one roof—fused together by data-driven insights. Bright Mountain Media's subsidiaries include Deep Focus Agency, LLC, BV Insights, LLC, CL Media Holdings, LLC, and Bright Mountain, LLC. For more Information, please visit www.brightmountainmedia.com .

Forward-Looking Statements for Bright Mountain Media, Inc.

This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties. Such forward-looking statements can be identified by the use of words such as "should," "may," "intends," "anticipates," "believes," "estimates," "projects," "forecasts," "expects," "plans," and "proposes," and similar words.

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