The following is a summary of the Loop Media, Inc. (LPTV) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Revenue for Q3 2024 was $4.4 million, down 24% from Q3 2023.

• Gross profit margin was 20.9%, decreasing from 31.8% year-over-year due to lower revenue and less advantageous content license fees.

• SG&A expenses were reduced to $4.1 million, a 35% decrease from the previous year, primarily due to cost-cutting measures.

• Net loss improved to $5.5 million from $7.9 million in the same quarter last year.

Business Progress:

• Implemented cost-cutting strategies including workforce reductions and restructuring vendor agreements, aiming to maintain SG&A expenses under $4 million quarterly through fiscal 2025.

• Transitioned to a more targeted distribution model to enhance advertising revenue opportunities, especially in smaller, less competitive markets.

• Introduced a subscription offering with 40 live channels, including NFL-related content, to capitalize on the sports season.

Opportunities:

• The targeted distribution efforts in less competitive markets and innovative offerings like the NFL-focused subscription service are expected to drive revenue growth.

Risks:

• The change in algorithms by major ad demand participants has reduced the frequency of ad demands and ad fills, impacting revenue growth.

More details: Loop Media IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.