- First quarter revenue increased by $10.9 million to $12.4 million compared to $1.5 million for the first quarter of 2023.
- First quarter gross margin increased by $2.6 million to $3.1 million compared to $528,000 for the first quarter of 2023.
Boca Raton, FL, May 14, 2024 (GLOBE NEWSWIRE) -- Bright Mountain Media, Inc. (OTCQB: 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 first quarter ended March 31, 2024 and 2023.
Matt Drinkwater, CEO of Bright Mountain Media, commented “We are pleased with the continued progress in our financial performance. Having accomplished the work of integrating two new businesses and reducing costs, we are focused on unlocking more synergies, launching new products and business lines, and delivering the vision of an AI-enabled marketing services platform to our customers. An example of these synergies has shown up in our ad tech business via organic top-line growth. This was primarily driven by the acceleration of leveraging the data assets of our market research division. This unique approach in the market is how we will continue to differentiate and create new opportunities in advertising services to increase return on advertising spend for customers across all segments. We remain optimistic that this represents the first of many synergies to come.”
https://www.globenewswire.com/news-release/2024/05/14/2881952/0/en/Bright-Mountain-Media-Inc-Announces-First-Quarter-2024-Financial-Results.html