Loop Media, a new streaming startup, announces acquiring ScreenPlay, a 30-year-old company to build a content library with over 200,000 music videos, films, games, and TV trailers. The acquisition involves both cash & stocks, however, the pricing value is still undisclosed.
By acquiring the licensing rights of ScreenPlay’s content library, Loop is planning to develop a slick and streamlined mobile app for better video curation as well as strong social engagement.
Jon Niermann, Co-founder & CEO of Loop Media, stated “ScreenPlay has been successfully providing great video service to North American businesses for 30 years. We are excited to aggressively expand its already substantial footprint and further the current experience by enabling audiences to engage with popular content at home and in public venues as Loop”.