Bright Mountain Media, Inc Announces Third Quarter 2024 Financial Results

BOCA RATON, Fla. - Nov. 14, 2024 - PRLog -- Bright Mountain Media, Inc. (BMTM) ("Bright Mountain" or the "Company"), a global marketing service platform with capabilities in digital publishing, advertising technology, consumer insights, creative and media services, today announced its financial results for the third quarter and nine months ended September 30, 2024.

Matt Drinkwater, CEO of Bright Mountain Media, is excited to report our continued financial progress and addition of industry veteran Board Members this past quarter. He states, "We are pleased with our continued positive financial performance focused on our bottom-line. Our third quarter net loss was $3.3 million, a decrease of 84%, compared to a $19.8 million net loss in the same period of 2023, and our Adjusted EBITDA of $804,000 represented an increase of $521,000 from $283,000 during the same period of 2023. Our current focus of maximizing synergies from prior acquisitions, launching innovative products and services, and advancing our vision of becoming an end-to-end marketing services platform is showing up in our financials. We are also proud that we can recruit distinguished industry leaders who will bring significant strategic guidance and unique perspective. We are eager to leverage their collective experience to propel our mission forward."

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. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to how the experience of the Company's board will enhance its strategic direction and trajectory. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" in Bright Mountain's Annual Report on Form 10-K for the year ended December 31, 2023 and our other filings with the SEC. Bright Mountain does not undertake any duty to update any forward-looking statements except as may be required by law.

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