ACCESS Newswire
14 Apr 2021, 19:13 GMT+10
Total Streaming viewers reach 23.8 million viewers in March 2021, up 208% Year over Year
Total subscribers to Company's SVOD services surpass 640,000, up 574% Year over Year
LOS ANGELES, CA / ACCESSWIRE / April 14, 2021 / Cinedigm (NASDAQ:CIDM), a global media company that creates enthusiast streaming channels, today announced record-breaking milestones for its subscription and ad-supported channel businesses.
In March 2021, Cinedigm's total streaming viewer footprint reached approximately 23.8 million monthly active ad-supported viewers across Cinedigm's digital networks distributed via linear Free Ad-supported TV (FAST) and Advertising Video on Demand (AVOD), up more than 208% 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*:
*All figures based on preliminary March 2021 performance data.
** YoY comparisons are between March 2020 and March 2021
'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 Erick Opeka, Chief Strategy Officer and President of Digital Networks for Cinedigm. 'Today, we are pleased to show that, in a turbulent world for entertainment, the relentless focus of our incredible team is paying off in record growth in subscribers, free viewers, engagement, and ultimately, revenue. Our success is not going unnoticed, with new major brands and media companies approaching us regularly to assist them in developing streaming strategies that most effectively monetize their properties and attract new audiences, we continue to move upmarket with larger worldwide brand and channel opportunities. We remain steadfast in our growth plans through our M&A rollup strategy where we have added 4 new OTT channels, more than 15,000 films and TV episodes and a leading streaming technology company with a strong base in the fast-growing South Asian market in just the last 5 months.'
Updates on Recent and Upcoming Key Streaming Initiatives:
Given Cinedigm's robust footprint of current and recently acquired services, the Company is actively focused on integrating the five acquisitions made since October 2020, as well as building and launching a variety of critical, recently announced products:
In March 2021, the Company announced that it was in active development of commercial NFT products. Our focus is to build a suite of products that will enhance the monetization of our and our partner's existing assets, and ultimately provide enhanced value to our overall streaming channel businesses. We plan to leverage's Cinedigm's extensive film and television content library, digital comics rights, deep distribution relationships with hundreds of producers, and our world class engineering capabilities to rapidly bring products to the market. The Company has four potential NFT products in development: a new, NFT-based film releasing label, an NFT-based consumer loyalty product for our streaming services, an NFT automation and distribution platform, and a marketplace product for video-based NFT collectibles. We are in the final phase of product development on several of these initiatives and expect to announce at least one product in April 2021.
'I am proud of the efforts of Cinedigm's team to not only execute on five M&A transactions a matter of months, but also conduct major channel and product launches and planning amidst an already aggressive growth trajectory,' said Opeka. 'This reflects the extensive competitive advantage that Cinedigm holds in executing a highly complex and technical roll-up strategy.'
###
About Cinedigm
For more than 20 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, enthusiast streaming channels and technology services to the world's largest media, retail and technology companies. For more information, visit www.cinedigm.com.
Media Contacts:
Laura Kiernan
High Touch Investor Relations
Ph. 1-914-598-7733
E: [email protected]
Jeffrey Klein
DKC News
Ph. 212-981-5189
E: [email protected]
SOURCE: Cinedigm Corp.
Get a daily dose of Detroit Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Detroit Star.
More InformationWASHINGTON, D.C.: The Trump administration has made public a visa decision that would usually be kept private. It did this to send...
MADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: Paramount has agreed to pay US$16 million to settle a lawsuit brought by U.S. President Donald Trump over...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...
(Photo credit: David Richard-Imagn Images) Riley Greene, Javier Baez and Gleyber Torres will start in the All-Star Game this month,...
(Photo credit: Eric Canha-Imagn Images) Boston right-hander Walker Buehler looks to put a horrid six-start stretch behind him when...
(Photo credit: Kamil Krzaczynski-Imagn Images) The Chicago Cubs set a franchise record by bashing eight home runs in a single game...
(Photo credit: Michael C. Johnson-Imagn Images) Felix Ojo, a five-star offensive tackle, will stay in his home state of Texas after...
(Photo credit: Ken Blaze-Imagn Images) Wenceel Perez and Zach McKinstry hit solo home runs and four Detroit pitchers combined for...
(Photo credit: Chadd Cady-Imagn Images) The Tampa Bay Rays will begin their long, strange trip to the All-Star break when they face...