secwatch.observer — SEC 8-K summary
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Issuer:     Bright Mountain Media, Inc. (BMTM)
CIK:        0001568385
Form:       8-K
Filed at:   2023-05-12T23:59:59+00:00
Accession:  0001628280-23-017702
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bright Mountain Media Q1 revenue down 57% to $1.5M; net loss widens to $3.8M; Big Village acquisition adds $50M revenue
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- Revenue $1.5M, down 57% YoY from $3.5M; gross margin $528K, down 70%.
- Net loss $3.8M compared to $2.1M loss in Q1 2022 (increase of 79%).
- Adjusted EBITDA loss $2.1M vs $1.6M loss in prior-year period.
- Acquisition of Big Village Insights & Agency divisions expected to add ~$50M annualized revenue and be accretive to adjusted EBITDA.
- CEO Drinkwater cites transformation; integration of Big Village's proprietary data underway.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1568385/000162828023017702/0001628280-23-017702-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1568385/000162828023017702/bmm-20230511.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-017702

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer