SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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Date:
May 1, 2018
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Bright
Mountain Media, Inc.
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By: /s/
W. Kip Speyer
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W. Kip
Speyer, Chief Executive Officer
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Exhibit 99.1
Bright Mountain Media Announced 2017 Year End Results
Boca
Raton, FL – April 30, 2018 – Bright Mountain Media,
Inc. (
www.brightmountainmedia.com
)
(OTCQB:
BMTM
), a
digital media holding company for online assets primarily targeting
and servicing the military and public safety markets, is pleased to
announce
that its total
revenue for the year ended December 31, 2017 was approximately
$3.68 million, a year over year increase in excess of 90% from its
total revenue of approximately $1.9 million reported for the year
ended December 31, 2016. While product sales increased by more than
70% year over year, revenues from advertising increased by more
than 150% year over year. This increase is principally attributable
to Daily Engage Media sales of $716,082 for the period of September
19, 2017 (the date of its acquisition) through December 31, 2017.
Our cash used in operating activities declined approximately 7% in
2017 from 2016.
In
commenting on the year end results, Mr. W. Kip Speyer, Bright
Mountain Media’s Chairman, President and CEO, stated that
“The increase in total revenues in 2017 was attributable in
large part to the acquisition of Daily Engage Media and reflected
our operational focus on the advertising segment of our
company.” Mr. Speyer stated further “With the
continuing integration of the Daily Exchange Media business and
operations, relationships with publishers should increase and we
expect that the revenue contributions from Daily Exchange Media
should continue to fuel the growth of the
company.”
About Bright Mountain Media
Bright
Mountain Media, Inc. (
BMTM
)
historically has operated as a digital media holding company for
online assets primarily targeted to the military and public safety
sectors. We are dedicated to providing “those that keep us
safe” places to go online where they can do everything from
staying current on news and events affecting them, look for jobs,
share information, communicate with the public, and purchase
products. In addition to our corporate website, we own and/or
manage 24 websites which are customized to provide our niche users,
including active, reserve and retired military, law enforcement,
first responders and other public safety employees with products,
information and news that we believe may be of interest to them. In
September 2017 we acquired Daily Engage Media, an ad network. With
its acquisition and the recent completion of its RTB (real time
bidding) exchange platform, we intend to launch the Bright Mountain
Media Ad Exchange Network in the third quarter of 2018. For more
information, please visit us at
https://www.brightmountainmedia.com/
.
Safe Harbor Statement
This press release contains forward-looking statements that can be
identified by terminology such as "believes," "expects,"
"potential," "plans," "suggests," "may," "should," "could,"
"intends," or similar expressions. Many forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results to be materially different from any
future results or implied by such statements. Bright Mountain
Media, Inc.'s future results may also be impacted by other risk
factors listed from time-to-time in its SEC filings
including, but are not limited to, our ability to raise sufficient
working capital to pay our obligations as they become due and fund
our growth initiatives, our history of losses and ability to
continue as a going concern, the possible failure to transition to
a primarily advertising based revenue model, our dependence on our
relationships with Google AdSense, Amazon and eBay, risks
associated with integration of acquired websites, failure to
protect our content and possible inadvertent infringement of third
party intellectual property rights, our ability to effectively
compete, our acquisition strategy, and a limited public market for
our common stock, among other risks
and uncertainties, all as set forth in our Annual
Report on Form 10-K for the year ended December 31, 2017, as filed
with the Securities and Exchange Commission on April 2, 2018, and
our subsequent filings with the SEC
.
Many factors are difficult to predict accurately
and are generally beyond the company's control. Forward-looking
statements speak only as to the date they are made and Bright
Mountain Media, Inc. does not undertake to update forward-looking
statements to reflect circumstances or events that occur after the
date the forward-looking statements are made.