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Sequence Brings Web3 Gaming Infrastructure to Google Cloud

Sequence Brings Web3 Gaming Infrastructure to Google Cloud

technology 22 Mar 2024

Sequence’s all-in-one development stack brings Web3 gaming tools and solutions to Google Cloud

Sequence, the leading development platform for Web3 games, announces a partnership with Google Cloud to offer its full-stack platform to Google Cloud customers. 

Sequence and Google Cloud’s collaboration makes it easier than ever for game makers to leverage Web3 technology, and ensures that developers have access to the most robust suite of Web3 tools as part of their cloud and game development infrastructure.

Sequence's gaming-grade technology platform was built from the ground up to solve access barriers for developers, enable services that gamers care about, and empower designers to create innovative play experiences that delight gamers, all while eliminating the complexity and friction of working with Web3 technologies. The Sequence stack is uniquely complete, spanning wallets and accounts, marketplaces, smart contract management, analytics, indexers, relayers, node gateways, and plugins for Unity, Unreal, web, and mobile. Sequence offers a robust all-in-one solution for the quickly growing industry and lets developers focus on game development while players can simply enjoy their games.

“Sequence gives game developers the freedom to focus on crafting exceptional gameplay for players,” said Jack Buser, Director for Games, Strategic Industries at Google Cloud. “Through this collaboration, Sequence removes the complexity of Web3 technology, ensuring a smooth and enjoyable experience for both developers and players.”

Traditional AAA game studios and newer Web3-native developers alike have been using Sequence’s solutions for years to facilitate new methods of monetization, game design, player rewards, and user acquisition.

At the end of 2023, Sequence launched Sequence Builder, a no-code portal for its complete development suite. Sequence Builder revolutionizes the ease with which traditional web2 and Web3-native game developers integrate blockchain-based elements into their experiences, with AAA publishers, new indie studios, game launchers, and others leveraging the platform. Through this partnership, any developer can effortlessly use Sequence Builder, including its embedded gamer wallets and royalty-enforcing in-game marketplaces, as easily as any Google Cloud tool.

“Since the beginning, Sequence’s goal has been to let any developer—traditional or Web3—focus on making great games without having to understand Web3 complexity, and our partnership with Google Cloud propels that forward,” said Greg Canessa, President and COO at Sequence. “Unfortunately, what we’ve seen is that too often the complexity of understanding and building underlying blockchain infrastructure has taken cycles away from the creative process of making great games that people love, and that in turn has yielded some poor quality experiences which have turned gamers off of the whole concept. Integrating Web3 shouldn’t be any harder than setting up a game server, and Google Cloud’s ethos perfectly matches ours.”

The games industry is facing changes and new challenges, with spiking user acquisition costs and old monetization models struggling to adapt. Sequence’s technology is at the forefront of giving developers new methods to engage, incentivize, and delight players, and Web3-enhanced games powered by Sequence demonstrate improved performance compared to traditional titles, especially around key performance metrics in growth, monetization, and retention.

Building the Future of Gaming with Rough House Games

Rough House Games, the publishers of Champions Ascension, chose Sequence and Google Cloud to power its award-winning arena RPG. “We set out to build an incredible game, and that meant we needed infrastructure partners who understood what an incredible game takes to make,” said Alejandro Gonzalez, Co-Founder at Rough House Games. “We want the best experience as developers so we can make the best experience for our players, and Sequence and Google Cloud make it simple, easy, and future-proofed as we grow.”

The game uses Sequence’s gold-standard seamless wallet and in-game marketplace technology, which have been shown to increase user adoption, retention and average revenue per user. The Sequence stack allows Champions Ascension to focus on user acquisition and keeping players in the game longer with an experience that feels native to gamers, rather than wasting time on complex integrations.

Like Sequence’s technology, Google Cloud plays a vital role in supporting Rough House’s development and success. With everything from game backend servers to authoritative multiplayer battle servers located around the world, Google Cloud offers top-tier scalability, availability and performance.

Sequence and Google Cloud set the stage for best practices in innovative game development for Rough House and all other developers, helping studios craft the next generation of titles to captivate gamers. To get started, developers can visit the Sequence Builder platform.

Moore Launches Dynamic Creative Optimization Solution for Hyper-Personalized Fundraising

Moore Launches Dynamic Creative Optimization Solution for Hyper-Personalized Fundraising

customer experience management 22 Mar 2024

Company integrates creative automation tools, data insights, and smart server AI powered by SimioCloud's real-time data to drive engagement and conversions.

Moore, a leading constituent experience management (CXM) company announces AI-powered capabilities to test and optimize creative content for hyper-personalized fundraising advertisements across digital channels and devices. The company's Dynamic Creative Optimization (DCO) capabilities integrate seamlessly with SimioCloud™data, marking a significant leap forward in the realm of personalized fundraising.

Moore's DCO capabilities revolutionize fundraising by using artificial intelligence to quickly identify the right creative for the right audience, leveraging real-time learnings and data from the company's Constituent Data Platform (CDP), SimioCloud Connect. This solution enables rapid generation of diverse appeal iterations while integrating audience-specific data. Ads are programmatically delivered across digital channels, maximizing impact and relevance by delivering a customized message, unique to each individual.

"We believe that personalized fundraising is the future, and our Dynamic Creative Optimization solution is at the forefront of this evolution," stated Gretchen Littlefield, chief executive officer of Moore. "Moore's DCO solution tailors ads based on demographics, interests, past giving behaviors, and thousands of other data points. This creates a hyper-relevant and compelling fundraising experience for every viewer powered by SimioCloud data."

"Our one-to-one fundraising thrives on the curated, detailed consumer data from our CDP product, SimioCloud Connect," stated Moore's chief data officer, Doug Kaczmarek. "With over 10,000 data points on every U.S. consumer, Moore clients harness predictive data insights to propel their fundraising efforts forward."

Moore is the largest marketing, data and fundraising company in North America serving the purpose-driven industry with omnichannel solutions that span the entire marketing supply chain.
With their new DCO solution, the company delivers client omnichannel fundraising campaigns that are highly relevant and impactful, driving superior results. Real-time analytics enable adjustments and optimizations throughout the lifecycle of the campaign.

"Video and other digital ads are extremely powerful storytelling mediums for our purpose-driven clients. With Moore's DCO solution, they can now harness the full potential of video to raise more money to support their causes, connect deeply with their audiences, and accelerate their missions," said Janet Tonner, president, media and digital division of Moore.

Consumers Expect Personalized Experiences, Social Engagement and Diverse Content: Can Media Deliver?

Consumers Expect Personalized Experiences, Social Engagement and Diverse Content: Can Media Deliver?

technology 22 Mar 2024

Deloitte's 18th annual "Digital Media Trends" survey reveals deepening convergence of streaming video, social platforms and gaming, and identifies strategies for consideration for media and entertainment providers

Key takeaways 

  • Streaming providers are experiencing continued disruption, and redesigning past models may not be working. Streaming video services still suffer from high costs, churn and competition from other kinds of media. Consumers question the value of streaming media, as 36% of those surveyed say the content available on streaming video services is not worth the price.
  • User-generated content (UGC) on social media platforms — as well as trusted online creators — both fuel and compete with streaming video. The needs, behaviors and expectations of younger generations are driving change, and content on social media platforms may offer more perceived value. Almost half (47%) of Gen Zs and a third of millennials surveyed say that their favorite form of video content is social media videos and live streams.
  • Audiences (like Gen Zs) are becoming increasingly diverse and expect their content to be, too. They actively seek out entertainment content that is inclusive and representative. Nearly 70% of all consumers surveyed say that they enjoy watching TV shows or movies that help them learn about cultures different from their own, and nearly half of all respondents say they expect TV shows and movies to show the same racial and physical diversity they see in the real world.

Why this matters
According to Deloitte's 18th annual "Digital Media Trends" survey, American consumers' evolving needs, behaviors, expectations and demographics, particularly Gen Zs and millennials, are continuing to influence the media and entertainment industry. Media and entertainment (M&E) companies can leverage Deloitte's data and insights to learn how consumers' interests, attitudes and identities have changed. With this understanding, they can be better positioned to build profitable business models and confidently operate in a constantly changing landscape.

Streaming video business model at a crossroads

Deloitte's survey reveals that the future of streaming video is at a turning point as traditional models struggle to meet consumers' evolving expectations. Simply repackaging the pay TV experience — using advertising revenues to reduce subscription costs, increasing bundles, and offering reduced rates for year-long contracts — may not be enough for streaming video on demand (SVOD) providers to combat churn. Gen Zs and millennials are less influenced by commercial advertising (which tends to be repetitive and not personalized) and look to social media creators and influencers for discovery and recommendations. However, SVOD providers may be able to increase engagement by delivering more personalized experiences and expanding their presence and influence across social and gaming platforms.

  • Price hikes may be approaching their peak. On average, subscribing households surveyed spend $61 per month for four services, up from $48 per month last year. However, almost half (48%) of respondents say they would cancel their favorite paid SVOD service if monthly prices went up $5.
  • Churn (or the percentage of consumers who have cancelled any paid SVOD service in the previous six months) has softened a bit to 40% (down from 44% last year), suggesting that tiering and even bundling may be helping with retention. Sixty-seven percent of respondents want a bundle to search for content across all their services, and the ability to customize it is key; 63% indicate they would like a bundle of services that they can customize each month.
  • Traditional ads on streaming video services are not proving to be influential, especially for younger generations. Of those surveyed under 41 years old, just 18% say advertisements on SVOD services influence their purchasing decisions.
  • Viewers find it too hard to find the content they want. Almost 50% of consumers surveyed would spend more time on streaming video if it was easier to find content, and more than half of those surveyed age 41 and under believe they get better recommendations for content to watch from social media than from streaming services.

Key quote
"Streaming services have reached a pivotal moment. Delivering great content is no longer enough — curating a more personalized experience designed to better match content with personal preferences and interests is the next step. And it's important to recognize that social media is the primary way people discover and get excited about entertainment. For content to resonate and drive engagement with consumers, streaming video providers should work to ensure their content connects with their diverse audiences and fosters a sense of community and social connectivity."

 Jana Arbanas, vice chair, Deloitte LLP and U.S. telecom, media and entertainment sector leader

Revolutionizing engagement and discovery in modern media

The growth of the creator economy and social entertainment is reshaping media, and steering user preferences and expectations for discovering content in the process. Social media platforms compete for audience attention but also offer M&E companies vital marketing avenues. These platforms and their creators are becoming important in driving viewership and engagement across various digital services. While M&E companies have traditionally aimed at broad audiences, they should also consider the untapped potential of segmented, hyper-engaged fan communities. These fan communities are highly valuable — offering a multi-channel strategic opportunity because they engage intensely both online and offline.

  • Underscoring the growing importance of UGC videos in shaping media consumption habits, 60% of Gen Zs surveyed say they prefer watching UGC videos because they do not have to spend time searching for what to watch.
  • Creators and UGC videos often point consumers, particularly Gen Zs and millennials, to content and influence their purchasing decisions; of this group, almost half of those surveyed (49%) watch TV shows and movies after hearing about them from creators online, over half (55%) find out about new game titles from live-streamers and content creators on social media and over half (54%) say advertisements on social media influence them most.
  • Fandom is uniquely tied to consumers' identities and can influence spending habits. About 40% of consumers surveyed say that their fandom for their favorite music artist is important to their identity — and these music fans are more likely to pay for a music subscription and attend live music concerts. Movie fans (26%) and video game fans (21%) also say their fandom for movies and video games, respectively, is important to their identity.

Key quote
"Our research underscores a fundamental shift in the media landscape. Social media platforms are not merely competitors; they can be influential collaborators for media companies as they aim to captivate and maintain audience engagement. The power of social media and content creators extends beyond content dissemination — they are often the new vanguards of taste, influencers of choice and architects of community engagement. As we delve deeper into this era of digital entertainment, the synergy between traditional media and emergent digital platforms will likely be paramount in shaping a business model that resonates with an ever-evolving, diverse audience base."

— Kevin Westcott, vice chair, Deloitte LLP and U.S. technology, media and telecom leader

Consumer interests, attitudes, and identities are shifting

Gen Zs and millennials are often early adopters of new trends like social media, video games and streaming video. These generations are more diverse and have unique backgrounds and identities. They expect content that is inclusive and reflects the diversity they see in the world around them. For instance, the gaming industry is often perceived to cater more to men and boys. This may limit growth in gaming, especially for live service games that have been challenged by harassment and bullying. To remain relevant and effectively engage with all audiences, M&E companies should invest in creating content that reflects and supports the increasingly diverse society we live in.

  • More than half of Black consumers prefer to watch TV shows and movies that feature people who look like them. And the team behind the scenes matters, too: Nearly 70% of Black consumers surveyed — and more than half of Asian, multiracial, and Hispanic and Latinx consumers surveyed — say it's important to them that TV shows and movies are written and produced by diverse creative teams.
  • Diverse audiences are more likely to think that social media videos are much more diverse than TV shows and movies. More than 40% of consumers surveyed overall find social media videos much more diverse than TV shows and movies — a figure that increases to 60% among Gen Zs and to over 50% for Black, multiracial, Hispanic and Latinx, and LGBTQIA+ respondents.
  • Approximately 60% of Americans surveyed spend an average of nine hours per week playing video games. Men and women may have different gaming experiences. About 30% of men who play games consider bulling to be part of the experience, but only 19% of women gamers surveyed feel the same way. Consequently, almost half of men gamers say they spend most of their gaming time playing one or two live service games, but just 29% of women gamers do so.

Level Access Completes Acquisition of UserWay, Signaling the Next Evolution of Digital Accessibility

Level Access Completes Acquisition of UserWay, Signaling the Next Evolution of Digital Accessibility

digital experience 22 Mar 2024

Unified solution poised to transform digital accessibility programs of every size and scale

Level Access, the leading provider of digital accessibility solutions, has completed its acquisition of UserWay, a pioneer in accessibility AI technologies. The acquisition signals the next evolution of digital accessibility by unifying Level Access’s industry-leading platform and unparalleled expertise with advanced automated remediation technology. 

“Our vision for a comprehensive digital accessibility solution will empower organizations of all sizes and of all complexities to make faster progress and lasting impact, which equates to excellence for their end users,” said Tim Springer, CEO and Founder of Level Access. “This acquisition sets the stage for a new wave of innovation, which will equip organizations to build accessible experiences at scale.”

Level Access’s unified platform and expert services have long enabled teams to embed accessibility into the design, development, and testing phases of digital experience creation. UserWay’s technology complements this rich solution set with automated remediation—that is, the ability to apply AI and human-driven automated fixes to live experiences. This versatile toolset will offer the most complete solution for any organization at any stage of digital accessibility maturity.

“We’re thrilled to join forces with Level Access to help organizations create and maintain accessible digital experiences,” said Allon Mason, CEO and Founder of UserWay, now President of Level Access. “Advanced automation and user personalization, coupled with Level Access’s proven, comprehensive digital accessibility approach, will be an industry game-changer.”

Organizations increasingly rely on automated remediation in their digital accessibility programs. According to the Fifth Annual State of Digital Accessibility survey, 34% of organizations leveraged automated remediation technology in 2023, which is a 14% jump from 2022. The survey is commissioned by Level Access, the International Association of Accessibility Professionals (IAAP), and the Global Initiative for Inclusive ICTs (G3ict).

Level Access will draw on its more than 25 years as an industry leader and its tenured team of digital accessibility experts to meet this market demand. The company will thoughtfully integrate automated remediation technology into its platform so that customers can benefit from its efficiencies as part of a comprehensive approach to accessibility and compliance.

“From the millions of website owners who have struggled to launch a digital accessibility program to the largest enterprises with the most complex digital ecosystems, we will have a solution to advance digital accessibility for every organization,” added Springer. “With this acquisition, we're accelerating progress toward our objective of making as many digital experiences as possible accessible for users with disabilities.”

Bloomreach Announces Another Successful Completion of SOC 2 Type II Audit and ISO Recertifications

Bloomreach Announces Another Successful Completion of SOC 2 Type II Audit and ISO Recertifications

ecommerce and mobile ecommerce 22 Mar 2024

Bloomreach, the platform fueling limitless e-commerce personalization, today announced the successful completion of its System and Organization Controls 2 Type II audit (SOC 2 Type II) for 2024. This recertification verifies internal security controls and validates their effectiveness over a one-year period. As a part of Bloomreach’s commitment to ensuring the company delivers the highest standard of security for its customers, the company renewed the accreditation covering its trust service principles: Security, Availability, and Confidentiality.

Passing the audit means Bloomreach has met the rigorous standards set by the American Institute of Certified Public Accountants (AICPA), and confirms that customer data is being properly managed, controlled, and secured. The extensive company-wide surveillance audit included a review of the company’s quality management systems and documentation, information security posture and controls, operations, governance, risk, and compliance activities.

In addition to our SOC 2 Type II attestation, Bloomreach maintains several ISO Certifications including:

  • ISO 27001:2013 Information Security Management Systems
  • ISO 27017:2015 Information Security Controls applicable to the use of cloud services (ISO 27002)
  • ISO 27018:2015 Protection of PII in Public Clouds acting as a PII Processor
  • ISO 22301:2019 Business Continuity Management Processes
  • GDPR Certification

"At Bloomreach, we prioritize our customers' protection and success through our adherence to SOC 2 Type II compliance and ISO accreditation," stated Aviv Raff, Chief Information Security Officer at Bloomreach. "This renewal underscores our unwavering commitment to maintaining the rigorous standards we've established, ensuring ongoing support for our customers' evolving needs."

Innovid’s Annual CTV Insights Report Finds Interactive CTV Campaigns Drive Up to 10.3x Higher Engagement for Advertisers

Innovid’s Annual CTV Insights Report Finds Interactive CTV Campaigns Drive Up to 10.3x Higher Engagement for Advertisers

advertising 22 Mar 2024

Report Highlights Continued Growth in CTV, Interactive, & Dynamic Ad Engagement as TV’s 100% Digital Future Approaches

Advertisers leveraging the biggest screen in the house are seeing interactive CTV campaigns achieve engagement rates 4.6x higher than mobile video and 10.3x higher than desktop video. When compared to standard pre-roll, interactive CTV video formats, inclusive of choice- and non-choice-based ads, also generate more than 600% lift in engagement. These insights are according to a new CTV insights report released today by Innovid, an independent software platform for the creation, delivery, measurement, and optimization of advertising across connected TV (CTV), linear, and digital. 

Innovid has an unparalleled, unbiased view of the CTV universe. Every day, Innovid processes approximately 1.3 billion video impressions and collects more than 6 billion data points.

In “The CTV Advertising Insights Report 2024: Your Data-Driven Source for CTV Performance Trends,” Innovid analyzed nearly 380 billion global video ad impressions served on its platform in 2023. The report provides a holistic view of video advertising and the ways in which marketers are adapting media, creative, and measurement strategies for streaming. Key findings reflect an industry speeding toward a 100% digital TV future, including:

  • CTV growth continues to surge: CTV accounted for 53% of video impressions – up 12% compared to the year prior. Additionally, the average CTV campaign reach in 2023 more than doubled compared to two years prior.
  • Frequency is rising, but it’s a double-edged sword: The average frequency delivered has increased by almost 80% – up from 4.08 to 7.40 – over the past two years. While it’s important for marketers to have their ads viewed multiple times for awareness, recall, and engagement, it’s also critical to find the right balance before hitting the point of oversaturation.
  • Viewers spend time with advanced creatives: Audiences expect relevant, 1:1 content – even with ad experiences – and it shows with the amount of time they spend with advanced creatives. Interactive ads had an average of 92 additional seconds of time earned vs. standard pre-roll video. Dynamic ads, those personalized to the viewer, generated more than 38 seconds of additional time earned.

“Advertisers are realizing the true power behind the measurable, impactful, and innovative ad experiences that only CTV can provide,” said Dani Cushion, CMO, Innovid. “As TV rapidly shifts to a 100% digital future, the time is now for advertisers to optimize every aspect of their campaigns for streaming. The opportunities for reach, engagement, and ROI are unparalleled.”

Jivox Announces IQ DaVinci For Direct Advertising: A Single Workflow To Launch Campaigns On Multiple Retail Media Networks In Under 5 Minutes

Jivox Announces IQ DaVinci For Direct Advertising: A Single Workflow To Launch Campaigns On Multiple Retail Media Networks In Under 5 Minutes

advertising 21 Mar 2024

The self-serve commerce media activation platform debuts integration with Salsify; adds dynamic video formats and new customization options for brands.

Today at ShopTalk, Jivox announced a transformative upgrade to the Jivox IQ DaVinci platform to strike the optimal balance between convenience and control for advertisers so they can launch commerce media campaigns in under 5 minutes on any retail media network.

Headlined by an integration with Salsify's Product Experience Management (PXM) platform, Jivox IQ DaVinci for direct advertising unlocks a range of customization options for advertisers that will open the door to launch dynamic product ads on multiple retail media networks from a single workflow and product catalog.

"Back in September we outlined our vision to revolutionize the commerce media landscape with the industry's first self-serve platform for dynamic creative generation & optimization for commerce marketing," said Diaz Nesamoney, Founder & CEO of Jivox, "today, we're excited to bring the benefits of IQ DaVinci to advertisers, such as CPG brands, who can replace time-consuming managed service workflows for each retail media network, with 5-minute campaign activation"

With eMarketer forecasting US ad spend to grow by 135% between 2023 and 2027, it's clear that retail media has the potential to become the third largest media format after search and social media. However marketers today are facing hurdles to capitalize on this due to slow, disjointed activation across multiple retail media networks and limitations to creative flexibility; with a 2023 Merkle report calling out creative capabilities as a priority brands are looking for.

Jivox IQ DaVinci For Advertisers is a single workflow that puts media teams in the driving seat with new capabilities designed to keep commerce media creative on-brand and on-track to deliver ROI:

  • Unify commerce marketing activation with a single product catalog and easy-to-use workflow across multiple retail media networks. "We are thrilled to offer an integration with Salsify's Product Experience Management (PXM) platform to enable brands to take a centralized source of product content and combine that with a single activation workflow to deliver campaigns across retailers." adds Nesamoney. This also unlocks non-endemic use cases for brands who want to advertise on retail media but don't stock their products at the specific retailer.

  • Deliver performance with high-quality dynamic creative with the option for brands to drop in their own custom assets to maintain brand identity; especially useful for product photography with detailed backgrounds or lifestyle imagery. With built-in smart asset re-sizing and fill capabilities, custom assets can fit perfectly every time.

  • Reduce time to launch with Pre-Approved Retailer Template Gallery: media teams can browse a selection of dynamic creative templates that have been pre-approved by retailers for a variety of strategies, enabling endemic advertisers to activate campaigns with the flick of a switch with no additional assets.

  • Showcase products in the best light with Dynamic Video Templates: Brands can now make use of video templates for use across digital retail media placements or even in-store video, a perfect fit for brand awareness campaigns and elevating performance through feed-based product carousels.

"Retail media infused with accurate, complete product content at scale powers a confident consumer journey that helps drive conversion on the product page," adds Rob Gonzales, CMO & Co-Founder of Salsify, "We are excited that our joint customers can enter a new era of streamlined, impactful commerce media marketing through Jivox's powerful integration with Salsify PXM."

Jivox IQ DaVinci empowers marketers to launch retail media campaigns in under 5 minutes.

Now marketers can utilize a single workflow to launch any creative format across multiple retailers with a standardized analytics dashboard to measure performance across all campaigns. Select from pre-approved retailer campaign templates. Preview all variations of dynamic product ads. Launch in minutes, not days, and see sales soar.

Loop Media Announces Changes to Executive Team, Review of Operations and Cost Cutting Measures

Loop Media Announces Changes to Executive Team, Review of Operations and Cost Cutting Measures

technology 21 Mar 2024

Jon Niermann steps down as CEO to focus on Distribution and Revenue – Remains on Board

Justis Kao Appointed as Interim CEO

Bruce Cassidy to become Executive Chairman of the Board

Loop Media to Explore Potential Strategic Alternatives and Financing Opportunities

Loop Media, Inc., a leading multichannel streaming CTV platform that provides curated music videos, sports, news, premium entertainment channels and digital signage for businesses, announced today that Jon Niermann is stepping down as Chief Executive Officer and the Board has unanimously appointed Justis Kao as Interim CEO, effective immediately. Mr. Kao has served in various roles in the Company, including Chief Communications Officer, Chief of Staff, Investor Relations and, most recently, Chief Content Officer. Mr. Niermann will remain a member of the Board and management team, maintaining a strategic focus on revenue and distribution. In addition, Bruce Cassidy has been appointed Executive Chairman of the Board. 

“While I have loved leading our team since I co-founded the Company, it’s time for a change of leadership for the Company and shift in focus for my role,” said Mr. Niermann. “Going forward, I feel I can provide more support to Loop in a customer-focused revenue-generating capacity. My main goal has always been to get a return for our shareholders while growing a meaningful media-tech company that will leave a lasting footprint. Justis knows the Company very well and has my and the organization’s full support and confidence. I look forward to driving growth in revenue and distribution.”

Bruce Cassidy, Executive Chairman of Loop Media, noted, “I continue to have tremendous confidence in the future opportunities for the Company and believe in its success. We believe that we have been ahead of the curve for this industry and should be well-positioned moving forward to achieve the type of growth that we originally set out to accomplish. We are fortunate to have some very talented members on our team. On behalf of the Board, I want to thank Jon for his visionary leadership and unrelenting dedication to Loop Media. Justis understands the Company, its people and the opportunity. He has been instrumental in leading a number of initiatives over the years and I have the utmost confidence in him to help lead Loop Media into its next phase of growth,” he concluded.

“I’m excited to step in as Interim CEO,” said Mr. Kao. “I’ve worked closely with Jon for over a decade now and know that the focus he can bring to revenue and distribution will continue to support us well. The rapport that our entire team and I have built over the last 10 years, since the start of Loop Media, gives me great confidence in leading the next critical stage of the Company’s development.”

In addition to Mr. Niermann stepping down from CEO, Mr. Kao being appointed Interim CEO, and Mr. Cassidy being named as Executive Chairman, Loop Media announced today that Bob Gruters, Chief Revenue Officer of the Company, has resigned after three years to pursue another business opportunity outside of the Company. Mr. Gruters has agreed to remain an advisor to the Company.

Randy Greenberg, Chief Operating Officer and Chief Marketing Officer, who joined Loop Media in July 2023, will be stepping down from those roles and leaving the Company to pursue other business opportunities.

The Board of Directors and senior management team conducted an operational and cost-cutting review across the Company which it believes will provide the framework to making the Company more competitive in the CTV for business/DOOH industry. The Board and management team determined that executing operational changes is prudent to accelerate Loop Media’s potential path to break even and operating profitability. As a result of the review, the Company has laid off and furloughed certain employees and has implemented salary reductions to create efficiencies and lower the Company’s overhead. These cost-cutting measures include senior management salary reductions and are expected to result in an annual aggregate cash payroll reduction of approximately $2 million.

Loop Media also intends to explore potential strategic alternatives to maximize shareholder value, as well as evaluate potential financing opportunities to help advance its business goals.

   

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