Cinedigm Announces Record Subscription and Ad-Supported User Growth Milestones
Total Streaming viewers reach 23.8 million viewers in
Total subscribers to Company's SVOD services surpass 640,000, up 574% Year over Year
Additionally, the Company reported that total subscribers to the Company's portfolio of subscription streaming services surpassed 640,000, up 574% year-over-year.
Additional Key Milestones and Facts*:
- Approximately 423 million minutes were streamed in
March 2021, a new Company record, and up 305% year-over-year.
- Advertising requests increased 431% year-over-year.
- Approximately 96% of all streaming occurred in connected TV ("CTV") environments. CTV is the most valuable ad inventory and in greater demand from advertisers when compared to desktop or mobile inventory.
- 16 streaming channels currently live, versus 5 live in
March 2020, a 220% increase.
*All figures based on preliminary
** YoY comparisons are between
"A year ago, we announced an aggressive strategy to rapidly expand our footprint of FAST linear streaming and AVOD channels, and to also rapidly expand our SVOD channel subscriber growth through M&A, distribution expansion, and partnerships," said
Updates on Recent and Upcoming Key Streaming Initiatives:
- Fantawild Channel - Last year, the Company announced a deal to build and operate a children's' streaming service with
Fantawild, one of the largest theme park operators in the world and the largest producer of Children's animation in China. Cinedigmhas completed the build-out of the channel and is currently testing the service with several strategic launch partners. Channel launch will occur shortly after satisfactory completion of this testing, which we anticipate will be completed in April.
- Fandor Relaunch -
Cinedigmacquired the assets of Fandor, a leading streaming service for film lovers, in late January 2021. The Company is actively integrating these assets and preparing for the beta relaunch of the service, which we expect to occur in late calendar Q2/early calendar Q3 2021. The Company is focused on migrating the service technology and expanding the content offering, distribution and partnerships in tandem with this relaunch. The service remains active and available to subscribers on a variety of platforms including Amazon Prime Channels, Roku, and more in the interim.
- The Film Detective Integration -
Cinedigmacquired the assets of The Film Detective ("TFD"), a leading streaming company and classic film library archive, in December 2020. The Company has been actively integrating the assets into Cinedigmsince the acquisition closed and continues to expand the monetization of those assets through Cinedigm's distribution capabilities. TFD Founder and CEO Phil Hopkinsis now President of both TFD and Fandor, and will leverage the extensive TFD library in Fandor's relaunch.
- Screambox Relaunch -
Cinedigmacquired the assets of Screambox, a leading streaming service for horror fans, in February 2021. The Company is actively integrating these assets and preparing for the beta relaunch of the service, which we expect to occur in calendar Q3 2021. The Company is focused on migrating the service technology and expanding the content offering, distribution and partnerships in tandem with this relaunch. In the meantime, the service remains active and available to subscribers during the migration on all platforms.
- NFT Initiatives - For over 20 years,
Cinedigmhas been at the forefront of driving major technological changes in the entertainment industry. The Company transformed the theatrical business by converting more than one third of US cinema screens from 35mm film to digital projection. Over a decade ago, the Company became the largest aggregator of digital content rights by helping more than 800 producers generate hundreds of millions of dollars in revenue through digital distribution to Apple, Amazon, Netflix, and more. Most recently, the Company has enabled partners like All3Media, American Public Media, The Bob Ross estate, and others develop commercial streaming channels. Our foray into NFT is a logical step for us, and a continuation of our successful efforts to commercialize emerging technology in the entertainment sector.
- FoundationTV Acquisition - The Company is currently in final diligence on this transaction. Barring any unforeseen issues arising from diligence, we expect this transaction to close within the next 30 days.
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