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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

New Streaming Media Startup Loop Media, Inc. Acquires Commercial Streaming Video Solutions Leader ScreenPlay, Inc.

February 21, 2019

BURBANK, Calif.--(BUSINESS WIRE)--Feb 21, 2019--Loop Media, Inc., an innovative streaming media company focused on premium short-form video for businesses and consumers, announced today the acquisition of ScreenPlay, Inc. With the addition of the 30-year-old company, purchased in cash and stock, Loop procures a deep library of, and valuable licensing rights to, over 200,000 music videos and film, game and TV trailers, millions of dollars in annual revenue and a built-in client base of thousands of public venues.

“ScreenPlay has been successfully providing a great video service to North American businesses for 30 years. We are excited to aggressively expand its already substantial footprint and further the current experience by enabling audiences to engage with popular content at home and in public venues as Loop,” said Jon Niermann, CEO and Co-Founder, Loop Media, Inc. “Not only does ScreenPlay fast-forward Loop’s business with its vast library of treasures - including vintage performances by major label and independent artists - it brings us a customer base in a digital out-of-home market that will grow as we deliver more powerful, slimmer and connected solutions.”

Videos from ScreenPlay’s library can be viewed in thousands of public venues including select Hard Rock Cafes, Norwegian Cruise Line, Yard House, Buffalo Wild Wings and Margaritaville. Current customers will continue to receive uninterrupted service as Loop develops and rolls out complementary services throughout the year. The videos are also provided to hundreds of websites and businesses such as IMDb, Amazon, Best Buy and more, which account for hundreds of millions of views per month.

ScreenPlay Founder and Chairman Mark Vrieling will join Loop as Chief Content Officer, leading content acquisition and licensing, and Pete MacKenzie, ScreenPlay’s second-longest tenured employee and COO, will become President to oversee day-to-day operations. The rest of the team will continue operations at Loop’s Seattle office.

“Over the past two years, our relationship has grown from partners, to Loop’s investment in ScreenPlay, to realizing the formidable power we’d have as one company,” said Vrieling. “Our team is excited to join Loop to provide more value to both the business customer and individual consumer, and help shape the future of streaming video.”

Loop was created by entertainment, tech and media industry veterans working to bring fans and artists closer together. Founders and management team include former media and business executives and technology managers from The Walt Disney Company, Electronic Arts, Comscore, Vevo, Microsoft and Goldman Sachs, as well as major label artists. Loop’s streamlined public-to-private viewing experience allows real-time interactions between venues, artists and fans in the evolving frontier of digital out-of-home, and platform transparency provides artists opportunities to create and realize new revenue streams.

Loop’s consumer app will be available later this year. To join the waitlist for early access, please visit loop.tv.

About Loop Media

Loop Media, Inc., is an innovative, premium streaming media company building products and solutions for both businesses and consumers. Loop Media is based in Burbank, Calif. To learn more about Loop products and applications, please visit loop.tv.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190221005696/en/

Eunice Hwangbo,Eunice@loop.tv

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: ENTERTAINMENT TECHNOLOGY INTERNET GENERAL ENTERTAINMENT ONLINE

SOURCE: Loop Media, Inc.

Copyright Business Wire 2019.

PUB: 02/21/2019 12:05 PM/DISC: 02/21/2019 12:05 PM

http://www.businesswire.com/news/home/20190221005696/en