Loop Media, a streaming platform specializing in curated content for businesses, launched a new rewards program Wednesday to help enterprises earn extra profit and save on operational costs. Enrolled businesses will earn a portion of Loop’s ad revenue by running the Loop Player, the company’s video streaming device.
Businesses can earn $20 per month by running the Loop Player for 240 hours per month, approximately eight hours per day for a five-day week. That monthly revenue increases for each Loop Player owned, Loop CRO Bob Gruters told Fierce Video. Businesses can also track the number of hours played through Loop's online portal. Any Loop customer is eligible to join the program regardless of their business size.
The Loop Player offers over 50 streaming video channels via Loop TV, along with digital signage at no additional cost. Any registered business open to the public is eligible for a free Loop Player.
Customers can receive rewards through multiple ways, including gift cards and cash cards. Businesses can also donate the funds to the charity organization of their choice, or Loop can donate on their behalf.
“Loop is driving significant ad dollars to its vast network,” said Gruters. The company wants to reward businesses that allow ads to run on Loop content, and small businesses can particularly benefit from direct cash incentives.
The pandemic financially incentivized new and existing customers to keep using Loop Players, Gruters added. Loop’s ad-supported model debuted in February 2021. That model’s revenue, he said, was “insane in terms of creation and generation.” At the end of 2021, Loop reported it had about 7,000 Loop Players operating in the U.S.
Loop’s market ranges from restaurants to beauty salons, schools and more. It is also the only company in the U.S. licensed to stream music videos directly to consumers and venues out-of-home (OOH), touting a diverse library of music genres.
“We don’t dictate experience, we curate it,” Gruters said. “We do that through human touch rather than with an algorithm.”
Gruters expects Loop’s business to scale fast this year, especially via word-of-mouth endorsements for the rewards program. A variety of businesses, from local enterprises to corporate chains, stand to save up to $5,000 per month by using Loop Players.
“Loop is adding back value to lots of retailers,” he said. “We decided at the beginning we’re going to be a disruptor in the industry and that’s exactly what we’re doing.”