BOCA RATON, FL / ACCESSWIRE / February 1, 2018 / Bright Mountain Media, Inc. (www.brightmountainmedia.com) (OTCQB: BMTM), a digital media holding company for online assets primarily targeted to the military and public safety sectors, is pleased to announce that its estimated total revenue (unaudited) for the three months ended December 31, 2017 was approximately $1.5 million, a year over year increase in excess of 100% from its total revenue (unaudited) of approximately $645,000 reported for the fourth quarter of 2016. The company also announced that, following the continued integration of its Daily Engage Media subsidiary after the closing of the acquisition during the third quarter of 2017, it now has relationships with over 700 publishers.
In commenting on the fourth quarter results, Mr. W. Kip Speyer, the company's chairman, president and CEO, stated, "The increase in total revenues during the fourth quarter was attributable in large part to the acquisition of Daily Engage Media." Mr. Speyer stated further, "With the continuing integration of the Daily Engage Media subsidiary, relationships with publishers should increase and that the revenue contributions from the Daily Engage Media subsidiary should continue to fuel the growth of the company."
The preliminary fourth quarter 2017 (unaudited) revenue information included in this press release is not based upon our audited financial statements and may change. The preliminary revenue information includes calculations that have been prepared internally by management and have not been reviewed or audited by our independent registered public accounting firm. There can be no assurance that Bright Mountain Media's actual results for the fourth quarter of 2017 will not differ from the preliminary information presented herein and such changes could be material. This preliminary revenue data should not be viewed as a substitute for full financial statements prepared in accordance with GAAP and is not necessarily indicative of the results to be achieved for any future period. Our audited financial statements for 2017 and unaudited fourth quarter 2017 financial statements will be contained in our Annual Report on Form 10-K for the year ended December 31, 2017 to be filed with the Securities and Exchange Commission on or before April 2, 2018.
About Bright Mountain Media
Bright Mountain Media, Inc. (BMTM) is an owner, acquirer, and manager of customized websites for military and public safety audiences. We are dedicated to providing "those that keep us safe" places to go online where they can do everything from stay current on news and events affecting them to look for jobs, share information, communicate with the public and more. 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, the completion of the audit of our financial statements for the year ended December 31, 2017, our ability to raise sufficient working capital to pay our obligations as they become due and fund its 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, 2016, as filed with the Securities and Exchange Commission, 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.
SOURCE: Bright Mountain Media, Inc.