Bright Mountain Media Inc.
08/07/2025 | Press release | Distributed by Public on 08/07/2025 13:59
Second quarter revenue increased to $15.4 million compared to $13.0 million for the second quarter of 2024 (Form 8-K)
Second quarter revenue increased to $15.4 million compared to $13.0 million for the second quarter of 2024.
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Half year revenue increased by $4.1 million to $29.6 million compared to $25.5 million for the same period of 2024.
Boca Raton, FL, August 7, 2025 - 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, creative services, and media services, today announced its financial results for the second quarter and six months ended June 30, 2025.
Matt Drinkwater, CEO of Bright Mountain, announced that the Company experienced continued financial momentum in the second quarter of the year, highlighting solid gains across key performance metrics.
"We are very pleased with our strong and steady financial performance", said Drinkwater, emphasizing the Company's consistent growth. "In Q2, revenue increased to $15.4 million, compared to $13.0 million in the second quarter of 2024, demonstrating meaningful operational leverage and strategic execution."
The Company attributes its revenue growth primarily to its advertising technology division, which is effectively matching demand from leading advertisers with premium ConnectedTV advertising inventory via the Company's technology platform. This strategy enabled the Company to partner with a growing list of premium publishers and streaming platforms, resulting in increased volume, higher rates, and overall revenue growth.
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Financial Results for the Three Months Ended June 30, 2025
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Revenue was $15.4 million, an increase of $2.4 million, or 18%, compared to $13.0 million for the same period of 2024. The increase in revenue was primarily from our advertising technology division, and was driven by our ability to leverage our resources to attract top advertisers, which in turn allowed us to onboard premium publishers. This led to an increase in volume, as well as rates and overall revenue. The increase was partially offset by a decline in revenue from our digital publishing division, which was primarily impacted by macroeconomic factors, which reduced traffic to our website, coupled with an overall reduction in spending by some customers related to inflationary concerns.
Advertising technology revenue was approximately $5.1 million, digital publishing revenue was approximately $359,000, consumer insights revenue was approximately $7.3 million, creative services revenue was approximately $1.7 million, and media services revenue was approximately $869,000, during the second quarter of 2025.
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Cost of revenue was $12.4 million, an increase of $2.8 million, or 29%, compared to $9.6 million for the same period in 2024. The increase is mainly a result of increased publisher costs of $1.4 million, driven by the increase noted in revenue for our advertising technology division, and increased direct project costs of $1.9 million, driven by the increase noted in revenue for our consumer insights and media services divisions.
Cost of revenue is inclusive of direct salary and labor costs of approximately $1.8 million for employees that work directly on customer projects; direct project costs of approximately $4.9 million for payments made to third-parties that are directly attributable to the completion of projects to allow for revenue recognition; non-direct project costs of approximately $1.2 million; publisher costs of approximately $3.7 million, and sales commissions of approximately $316,000.
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General and administrative expense was $4.0 million, a decrease of $1.3 million, or 24%, compared to $5.3 million in the same period of 2024.
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Gross margin was $3.0 million, a decrease of 11%, compared to $3.4 million in the same period of 2024.
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Net loss was $4.1 million, a decrease of 22%, compared to a $5.2 million net loss in the same period of 2024.
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Adjusted EBITDA loss was $218,000, an improvement of 76%, compared to Adjusted EBITDA loss of $920,000 in the same period of 2024. See the below section on Non-GAAP Financial Measure for a reconciliation of net loss to EBITDA and Adjusted EBITDA.
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Financial Results for the Six Months Ended June 30, 2025
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Revenue was $29.6 million, an increase of $4.1 million, or 16%, compared to $25.5 million for the same period of 2024. The increase in revenue was primarily from our advertising technology division, and was driven by our ability to leverage our resources to attract top advertisers, which in turn allowed us to onboard premium publishers. This led to an increase in volume, as well as rates and overall revenue. The increase was partially offset by a decline in revenue from our creative services division, which was primarily due to a decrease in the number of projects for small tier revenue customers.
Advertising technology revenue was approximately $9.3 million, digital publishing revenue was approximately $942,000, consumer insights revenue was approximately $14.4 million, creative services revenue was approximately $3.2 million, and media services revenue was approximately $1.7 million, during the first half of 2025.
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Cost of revenue was $22.3 million, an increase of $3.4 million, or 18%, compared to $18.9 million for the same period in 2024.
Cost of revenue is inclusive of direct salary and labor costs of approximately $3.7 million for employees that work directly on customer projects; direct project costs of approximately $8.5 million for payments made to third-parties that are directly attributable to the completion of projects to allow for revenue recognition; non-direct project costs of approximately $2.2 million; publisher costs of approximately $6.7 million, and sales commissions of approximately $575,000.
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General and administrative expense was $8.5 million, a decrease of 19%, compared to $10.6 million in the same period of 2024.
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Gross margin was $7.3 million, an increase of 11%, compared to $6.6 million in the same period of 2024.
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Net loss was $7.3 million, a decrease of 27%, compared to a $10.0 million net loss in the same period of 2024.
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Adjusted EBITDA was $599,000, an improvement of 130%, compared to Adjusted EBITDA loss of $2.0 million in the same period of 2024. See the below section on Non-GAAP Financial Measure for a reconciliation of net loss to EBITDA and Adjusted EBITDA.
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About Bright Mountain Media
Bright Mountain Media, Inc. (OTCQB: BMTM) unites a diverse portfolio of companies to deliver a full spectrum of advertising, marketing, technology, and media services under one roof-fused together by data-driven insights. Bright Mountain Media's subsidiaries include Deep Focus Agency, LLC, MediaHouse, Inc., BV Insights, LLC, CL Media Holdings, LLC, and Bright Mountain, LLC d/b/a BrightStream. For more Information, please visit www.brightmountainmedia.com.
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