ReelTime to Launch Roku Channel ReelTime TV to 51.2 Million Monthly Active Users, Expanding Content Distribution And Advertising Revenues Using Technology
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The channel “ReelTime TV” will contain a combination of ReelTime Media Original programming as well as serving up other additional cutting edge content. ReelTime Media and Roku will share in revenues generated from advertising, with ReelTime retaining approximately a 70 % slice of the advertising inventory.
As of the fourth quarter of 2020, Roku reported a total of 51.2 million monthly active users in the three-month quarter ending Dec. 31, up by approximately 14 million accounts in 2020. This figure is the company’s highest monthly active user total of all time, as the userbase almost doubled in just two years. In addition, Roku said its users streamed 58.7 billion hours of content in 2020. Limitations and high cost of cable is generally considered at fault and Roku is battling for the advantage in the race for subscribers with Amazon.
The two are seemingly neck and neck when it comes to being the dominant streaming platform. Last month, Amazon said it now has more than 50 million active users on its Fire TV devices. The online retail giant revealed the milestone alongside the rollout of an update to the Fire TV user interface.
Barry Henthorn, CEO, stated: “ReelTime Media is committed to reaching the rapidly growing number of ‘Cable Cutters’ that dominate the younger audiences. ReelTime TV not only introduces our content to a very large audience who love it but provides our advertisers an effective conduit to reach this very relevant audience.”
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 assigned to ReelTime to assist throughout the process. In addition, the request for a new symbol to be reserved for ReelTime to trade under once the Company has met all quantitative and qualitative criteria, including certain corporate governance requirements, has been approved. ReelTime will continue to submit additional information and documentation as it is required based on comments from its assigned Listing Analyst and others at NASDAQ who will be assisting ReelTime, assuring that they satisfy all the required qualifications for NASDAQ Capital Markets securities in Rule 4300 and or any other applicable regulatory requirements. ReelTime will also need to adhere to the corporate governance standards set by NASDAQ. In addition, ReelTime must comply with NASDAQ’s requirements relating to audit committees, the director nomination process, the compensation of officers, board composition, executive sessions, quorum, and code of conduct, among others.
ReelTime will continue to trade on the OTC Markets under the symbol (OTC:RLTR) throughout the process and up until the move to the NASDAQ Capital Market becomes effective, at which time the ticker symbol will become .
The NASDAQ Capital Market provides companies the required capital in order to grow their business. The NASDAQ Capital Market also provides a listing venue that promises to accommodate the different stages of corporate lives of the companies. All companies that are listed on NASDAQ Capital Market need to satisfy all the required qualifications for NASDAQ securities in Rule 4300. The companies also need to adhere to the corporate governance standards set by NASDAQ.
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