BURBANK, Calif. - Loop Media, Inc. (NYSE American: LPTV), a prominent multichannel streaming platform, has been chosen by RadNet, Inc. (NASDAQ: RDNT) to power RadNet’s dedicated TV channel across its 366 imaging centers. The partnership aims to enhance the patient experience through personalized content and advanced advertising technology.
The collaboration will leverage Loop Media's technology and advertising services to deliver custom RadNet branded channels and signage, as well as enabling RadNet to stream its own content throughout its RadNetTV network. RadNetTV, operating in seven states, is designed to entertain and inform patients and guests with an estimated annual viewership of over ten million.
Paul Colacchio, Vice President of Communications and PR at RadNet, commented on the selection, stating that the company is looking to monetize its TV network and promote its brand with a highly personalized entertainment offering, utilizing Loop Media’s expertise.
Jon Niermann, Founder of Loop Media, highlighted the partnership as a testament to Loop’s commitment to helping companies maximize the value of their streamed content. He emphasized Loop Media's ability to curate entertainment channels and deliver programmatic ad demand in a cost-effective manner.
Loop Media, Inc., with its Loop® TV service, specializes in streaming music videos, news, sports, and entertainment content to various venues, including bars, restaurants, offices, and airports, in the United States and internationally.
RadNet, Inc. is recognized as a national leader in outpatient diagnostic imaging services, with 366 centers and approximately 9,700 employees.
The information for this news article is based on a press release statement.
InvestingPro Insights
As Loop Media, Inc. (NYSE American: LPTV) embarks on a strategic partnership with RadNet, Inc. to enhance the patient experience through its streaming platform and advertising technology, it's crucial to consider the company's financial health and market performance. According to real-time data from InvestingPro, Loop Media currently holds a market capitalization of 20.55 million USD. This figure, while modest, reflects the company's standing in the market as it seeks to expand its reach through partnerships such as the one with RadNet.
InvestingPro data also reveals a significant decline in Loop Media's stock price over various timeframes, with a 1-week price total return of -10.77% and a staggering 1-year price total return of -94.41%. This downward trend suggests that while the company is making strategic moves in the market, investors may have concerns about its future profitability and financial stability.
Moreover, Loop Media's revenue has seen a notable contraction, with a -36.74% change in the last twelve months as of Q1 2024. This decline in revenue growth, coupled with the company's current challenges, underscores the importance for potential investors to closely monitor Loop Media's financial metrics and market performance.
InvestingPro Tips for Loop Media indicate that the company is quickly burning through cash and that its stock generally trades with high price volatility. These insights suggest that investors should exercise caution and conduct thorough due diligence. For those interested in a deeper analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/LPTV. For instance, the company's short-term obligations exceeding its liquid assets could be a red flag for those considering an investment.
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