Cinedigm's Streaming Portfolio Grows with 3,000 New Titles, 10,000 Individual Film & TV Episodes and Two Successful Linear Streaming Networks
LOS ANGELES, CA / ACCESSWIRE / December 24, 2020 / Cinedigm (NASDAQ:CIDM) announced today the close of the acquisition of The Film Detective, a leading content distributor and streaming channel company focused on classic film and television programming.
The deal adds The Film Detective's library, comprised of 3,000 content titles, an estimated 10,000 individual film and TV episodes and two Free-Ad-Supported-Television (FAST) linear networks into Cinedigm's expansive portfolio of streaming channels and content.
As previously announced, Cinedigm expects to leverage the Company's Matchpoint technology platform to accelerate The Film Detective's distribution across Cinedigm's network of more than 100 digital retail partners. Additionally, Cinedigm plans to expand the distribution of The Film Detective's two current streaming channels (The Film Detective and Lone Star) across its network of more than 820 million consumer devices. The companies will also leverage Cinedigm's technical and operational capabilities to launch several new genre channels in the coming quarters.
The Film Detective will continue to operate independently under the leadership of Philip Hopkins, Film Detective Founder and CEO, under the Cinedigm umbrella. Hopkins has assumed the new title of President, The Film Detective. Hopkins will continue with a focus on the acquisition of high-quality library content and the launch of additional streaming channels.
"We are very pleased to have closed this high potential, accretive streaming acquisition and welcome Phil and his team to the Cinedigm family," said Chris McGurk, Cinedigm Chairman and CEO. "We hope to close similar acquisitions in the near future as we execute a roll-up strategy of streaming assets that can immediately benefit from Cinedigm's unique capabilities, distribution muscle and proprietary technology in the explosively growing streaming business."
"We are proud to be taking this next step with Cinedigm," said Hopkins. "This acquisition presents an exciting opportunity to join Cinedigm's industry-leading approach to content distribution and streaming, strengthening our mission of increased access to classic film and television content through the convenience of modern streaming technology."
Cinedigm has leaned into digital monetization since its inception, offering content providers a path to global reach on streaming platforms. Data and analytics guide the Company's decisions to follow growth trends such as AVOD and the team closed numerous recent distribution deals including NBC Peacock, Google, Redbox, Local Now, Plex, and Fuse, in addition to existing AVOD partnerships with various platforms such as Tubi, Pluto, Vudu, Amazon, and Roku, amongst others, to carry the new content.
Cinedigm offers global streaming linear, on-demand branded channels while distributing digital films and TV series on every meaningful transactional, SVOD, and AVOD global platform. The Company distributes tens of thousands of hours of film and TV content to over 70 digital platforms in 180+ territories. Branded content includes co-productions in the action, western and military genres along with family (Hallmark, ZDF), anime (Konami Cross Media) and sports championship programs (NFL, NHL).
Kalil & Co, Inc. (www.kalilco.com) served as the exclusive broker for this transaction. Kalil & Co., Inc. has been in the media brokerage business for over 50 years and is considered the premier media M&A firm in the United States.
For more than twenty years, Cinedigm (NASDAQ:CIDM) has led the digital transformation of the entertainment industry. Today, Cinedigm entertains hundreds of millions of consumers around the globe by providing premium content, streaming channels and technology services to the world's largest media, technology and retail companies. For more information, visit http://www.cinedigm.com/.
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SOURCE: Cinedigm Corp.accesswire.comhttps://www.accesswire.com/622213/Cinedigm-Closes-Acquisition-of-Streaming-Company-The-Film-Detective