Cinedigm and New Video(R) Enter Into Strategic Partnership to Jointly Acquire and Distribute Independent Films
New Partnership Will Provide Cross-Platform Theatrical Release, Digital and Physical Distribution for Independent Filmmakers
NEW YORK, NY and WOODLAND HILLS, CA -- (MARKET WIRE) -- 01/23/12 --
Cinedigm Entertainment Group, a division of Cinedigm Digital Cinema Corp. (NASDAQ: CIDM), and leading entertainment distributor New Video® today announced they have entered into a partnership that will bring more independent films into theaters nationwide by fully leveraging advanced digital technology. As part of the agreement, Cinedigm and New Video will work together to acquire and distribute independent films theatrically in North America, followed by platform release across cable, VOD, digital, and DVD/Blu-ray. Leveraging Cinedigm's unique position as a digital exhibitor of independent film and alternative content in theatres and New Video's innovative digital and physical distribution capabilities, this partnership creates a unique alternative for
Cinedigm is a leader in transforming movie theaters into digital and networked entertainment centers and has released close to 200 independent films and alternative content events over the last few years, with past releases ranging up to 1,000 screens based on the content and audience footprint. New Video is the largest aggregator of independent digital content worldwide, with Amazon, Apple's iTunes store, Hulu, Netflix and Walmart's Vudu service as key partners. The agreement is effective immediately, with the goal of releasing films in 2012 on screens in North America through Cinedigm's network of theatres. Releases are bolstered by Cinedigm's and New Video's aggressive precision marketing and social networking initiatives that are necessary for filmmakers to reach audiences in
today's multi-platform universe.
"New Video has a strong 20-year track record of creative marketing and innovative release strategies for film and TV," said Chris McGurk, Chairman and CEO of Cinedigm. "Adding in Cinedigm's quality digital theatrical capabilities to New Video's proven expertise opens up a unique and advantageous release opportunity for independent filmmakers in all key channels of distribution. This arrangement also underscores Cinedigm's commitment to provide our digital theatrical network with an expanded stream of high quality content as we rapidly grow our core distribution business."
"There is opportunity and demand for great independent cinema. Cinedigm and New Video are creating a new distribution model that's specifically designed to maximize today's fast-moving digital landscape," said Steve Savage, Co-President of New Video. "Together, our acquisitions teams will target both talent-driven independent films with broad appeal, as well as niche or specialty releases. We are thrilled to partner with Chris and his entire team to bring enhanced value to the life of a filmmaker's project."
Cinedigm offers a new business model to exhibitors by enabling digital theatres to present engaging alternative programming including live 2D and 3D sporting events and concerts, shorts, cartoons, live Q&As, as well as branded entertainment. Recent releases by Cinedigm include the groundbreaking, LIVE 3D broadcast of The Foo Fighters performance, the worldwide LIVE 3D broadcast of the FIFA World Cup Championship, the BCS Championship in LIVE 3D, the Dave Matthews Band 3D concerts, the sold out 3D PHISH concerts and a variety of independent films. Cinedigm also provides a number of powerful software applications that enable exhibitors to enhance and streamline their daily operations. Additionally, Cinedigm offers precision marketing tools to dramatically increase exhibitor marketing effectiveness, including social media initiatives, targeted advertising and strategic
public relations. Cinedigm™ and Cinedigm Digital Cinema Corp™ are trademarks of Cinedigm Digital Cinema Corp. www.cinedigm.com [CIDM-G]
ABOUT NEW VIDEO®
Celebrating its 20th anniversary in 2011, New Video is a leading entertainment distributor and the largest aggregator of independent digital content worldwide. Headquartered in New York City, with an international presence in 45 territories, the company delivers feature films, TV programs and web originals via digital download, streaming media, video-on-demand, Blu-ray and DVD, and theatrical release. New Video streamlines the distribution and marketing process for filmmakers, producers and brand partners to bring a wide variety of fresh content to new audiences. The company's library includes original TV series and movies from A+E® Home Entertainment, HISTORY™, and Lifetime®, unforgettable games and trophy sets from Major League Baseball®, storybook treasures from Scholastic®,
award-winning documentaries from Docurama Films®, Arthouse Films, and Plexifilm, next-gen indies and web hits from Flatiron Film Company®, the best in Chinese cinema from China Lion, and festival picks from Tribeca Film. New Video is proud to distribute the 2011 Oscar®-nominated films Gasland, Waste Land and, on digital, Restrepo.
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Source: Cinedigm Digital Cinema
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