A brand new streaming startup referred to as Loop Media is asserting its first acquisition — it’s purchased a 30-year-old firm referred to as Screenplay.
Whilst you might not have heard of Screenplay, the corporate has licensed a library of 200,000 music movies and film/recreation/TV trailers, which it broadcasts in 1000’s of venues for companions like Laborious Rock Cafe, Norwegian Cruise Line, Yard Home, Buffalo Wild Wing and Caesars Leisure.
This announcement comes only a week after Loop formally got here out of stealth — and actually, co-founder and CEO Jon Niermann (beforehand an government at EA and Disney) mentioned he’s at all times seen Screenplay’s content material library as the inspiration for Loop enterprise.
It additionally appears like this deepens an present relationship, with Loop beforehand making a minority funding in Screenplay. The thought is to protect and even develop Screenplay’s present enterprise — bringing video to out-of-home areas — whereas additionally introducing new know-how into the combination, together with a cell app for short-form video.
“[Screenplay] is an organization that generates tens of millions in top-line income, it’s worthwhile,” Niermann mentioned. “As know-how has advanced and been up to date, we wish to are available with our crew and actually assist them develop that.”
There are many different cell apps that includes brief movies, however Niermann mentioned Loop can now benefit from Screenplay’s content material library, and in addition join the venue expertise with the app. As well as, he mentioned Loop will is constructing “a really streamlined, slick app” that gives higher curation than most video providers, in addition to “a powerful social part.”
The acquisition was for an undisclosed worth, combining each money and inventory. Niermann famous that “the Screenplay crew stays intact,” with founder and chairman Mark Vrieling becoming a member of Loop as its chief content material officer.
He added that present Screenplay prospects is not going to expertise any interruption of their service. The plan is to launch the Loop app and an improved Screenplay screencast system within the subsequent six months.
“[The business] goes to be a hybrid,” he mentioned. “We needed to proceed to have the enterprise roots, so to talk, however all people’s cell, all people’s viewing in every single place. The query for us is, how do you create one thing that’s distinctive, that really is a seamless expertise?”