Business
ReelTime Quarterly Revenues Increase Nearly 70% Over Previous Period and 25% Over Same Period 2019 Despite Covid Slowdown
ReelTime Quarterly Revenues Increase Nearly 70% Over Previous Period and 25% Over Same Period 2019 Despite Covid Slowdown.
About this update from Reeltime Rentals, Inc.
[{"type":"text","content":"\n Seattle, WA, Jan. 06, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ReelTime’s revenues from its core business in Q3 2020 have increased by nearly 70% over the previous period and approximately 25% over the same period last year.  The revenues reported in the Company's' latest financials do not include any revenues from recently acquired Discount Ad Brokers (DAD) a 15-year-old media company operating within a unique niche of the advertising industry. Revenues from this and other completed acquisitions will be included in consolidated reports with the period beginning January 1st, 2021.  Annual gross billings for (DAD) have averaged over $20 million per year over the last 3 years resulting in net placement revenues averaging $2.6 million per year.   Net Revenues have historically risen from, 4.2 million in 2018, to 5.1 million in 2019, yet are expected to be reduced to just over $1 million in 2020 due to an elimination of ads from restaurant and travel clients that have historically been a large percentage of the companies mainstay business. This has begun to shift and is intended to exceed past performance once restrictions on travel and dining are lifted as is expected early in 2021. There is a pent-up demand for travel and restaurant advertising - driven from both an industry and a consumer demand standpoint. Discount Ad Brokers have consistently been the agency of choice for discount media placements for notable marquis clients such as Hooters, Hard Rock Resorts International, Toys for Tots, Tony Robins, Glucose Health, SeaWorld, and numerous national brands within the hospitality, finance and As Seen On TV sectors, generating over 30 million dollars in revenues  from these accounts which will be maintained in accordance with the agreement.  Barry Henthorn, CEO, stated: \"The Company believes it has filed all required financial disclosures and expects to achieve Current status within days subject to review by all applicable regulators.\" ReelTime has formally submitted an application as a Seasoned Company Seeking to Transfer Equity and/or Debt Securities from Another U.S. Exchange to be listed on the NASDAQ Capital Market Exchange. The application has been logged in the NASDAQ Listing Center, all applicable fees have been paid, and a listing analyst has been ...