Loop Media said it is acquiring ScreenPlay in cash and stock to build deep library and valuable licensing rights over 200,000 music videos and film, game and TV trailers. ScreenPlay primarily deals in short-form videos.
“ScreenPlay has been successfully providing a 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,” said Jon Niermann, CEO and Co-Founder, Loop Media, Inc.
“Not only does ScreenPlay fast-forward Loop’s business with its vast library of treasures – including vintage performances by major label and independent artists – it brings us a customer base in a digital out-of-home market that will grow as we deliver more powerful, slimmer and connected solutions.”
Videos from ScreenPlay’s library can be viewed in thousands of public venues including select Hard Rock Cafes, Norwegian Cruise Line, Yard House, Buffalo Wild Wings and Margaritaville. The company said that current customers will continue to receive uninterrupted service as Loop develops and rolls out complementary services throughout the year. The videos are also provided to hundreds of websites and businesses such as IMDb, Amazon, Best Buy and more, which account for hundreds of millions of views per month.
ScreenPlay Founder and Chairman Mark Vrieling will join Loop as Chief Content Officer, leading content acquisition and licensing, and Pete MacKenzie, ScreenPlay’s second-longest tenured employee and COO, will become President to oversee day-to-day operations. The rest of the team will continue operations at Loop’s Seattle office.
“Over the past two years, our relationship has grown from partners, to Loop’s investment in ScreenPlay, to realizing the formidable power we’d have as one company,” said Vrieling. “Our team is excited to join Loop to provide more value to both the business customer and individual consumer, and help shape the future of streaming video.”
Loop was created by entertainment, tech and media industry veterans working to bring fans and artists closer together. Founders and management team include former media and business executives and technology managers from The Walt Disney Company, Electronic Arts, Comscore, Vevo, Microsoft and Goldman Sachs, as well as major label artists. Loop’s streamlined public-to-private viewing experience allows real-time interactions between venues, artists and fans in the evolving frontier of digital out-of-home, and platform transparency provides artists opportunities to create and realize new revenue streams.