Cinedigm Acquires All North American Rights to the Sundance Film Festival 2023 Midnight Section Favorite

Rhea-AI Summary

Cinedigm has acquired all North American rights to the horror-comedy film Onyx the Fortuitous and the Talisman of Souls, which debuted at the 2023 Sundance Film Festival. The movie has received positive feedback and will be released in theaters this fall, followed by an exclusive launch on the horror streaming service SCREAMBOX.

The film, directed by Andrew Bowser, is based on his viral character and tells the story of an amateur occultist navigating a supernatural adventure. The film features a strong cast and boasts over 300 million views for the Onyx character online.

The acquisition is expected to enhance Cinedigm's content offerings and capitalize on the growing interest in horror genres.

Positive

• Acquisition of a popular horror-comedy film expected to attract audiences.
• The film generated buzz at several film festivals, enhancing its visibility.
• Potential for strong subscriber growth on SCREAMBOX following film release.

Negative

• Integration challenges may arise from the new acquisition.
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Onyx the Fortuitous and the Talisman of Souls

 Plans to release the horror-comedy in theaters this fall, followed by an exclusive launch on the Company's horror streaming service SCREAMBOX

LOS ANGELES, April 26, 2023 /PRNewswire/ -- Cinedigm has acquired all North American rights to the buzzed-about horror-comedy Onyx the Fortuitous and the Talisman of Souls. The film premiered at the Sundance Film Festival 2023 Midnight Section to rave reviews, recently played at Fright Fest at the Glasgow Film Festival and the Calgary Underground Film Festival and will continue its festival run at the Chattanooga Film Festival, the Dark Bridges Film Festival and Fantasia International. Cinedigm plans to release the film in theaters this fall followed by an exclusive launch on the Company's horror streaming service SCREAMBOX.

Since its Sundance premiere, the energy surrounding the film has steadily grown with Bloody Disgusting praising the "endearing quirkiness, endless '80s/'90s influences, and horror whimsy" and RogerEbert.com calling it "a handmade horror gem."

Based on writer, director and star Andrew Bowser's viral internet character of the same name, Onyx tells the story of an amateur occultist who learns that sometimes when you raise HELL...you get a little burned. Misunderstood by all who know him, Marcus J. Trillbury (Bowser), aka Onyx the Fortuitous, is struggling to find purpose in his soul-devouring side gig. But just when it seems he's ready to throw in the towel, he receives a coveted invitation to the mansion of his idol Bartok the Great (Jeffrey Combs; Re-Animator) for a ritual to raise the spirit of an ancient demon. Ecstatic, he joins Bartok, his mysterious delegate Farrah (Olivia Taylor Dudley; "The Magicians," Paranormal Activity: The Ghost Dimension) and a collection of fellow devotees as they prepare for the ceremony, but quickly it becomes apparent things are not what they seem. As Onyx and his new friends fight to keep their souls, he must decide what he's willing to sacrifice in order to meet his destiny.

The film also stars Barbara Crampton (You're Next, Re-Animator), Ralph Ineson (The Witch, The Green Knight), Rivkah Reyes (School of Rock), TC Carson (Final Destination 2), Arden Myrin (Insatiable, Shameless) and Melanie Chandra (Code Black). Bowser (Worm, Jimmy Tupper vs. the Goatman of Bowie) also produced the film along with Clark Baker, Michael Mobley and Olivia Taylor Dudley.

The popular viral character Onyx the Fortuitous has garnered over 300M views online and has over 1M followers on TikTok, catapulting him to fame and cementing his status as a pop culture icon. Onyx fearlessly blends spine-chilling monsters with side-splitting humor, infusing the dark arts with a playful and lighthearted energy.

"Get ready to be transported back in time with this hilarious throwback to 80s horror that will have you laughing and screaming in equal measure," said Brad Miska, Managing Director of Bloody Disgusting/Cinedigm. "It's Elvira: Mistress of the Dark meets Fright Night, Beetlejuice, and even Ernest Scared Stupid with practical effects that will leave you speechless. If you're a fan of the viral sensation that is Onyx, you won't want to miss this uproariously fun adventure on the big screen this fall."

When asked about the distribution news and his vault to stardom, Onyx the Fortuitous had this to say: 

"I cannot wait to partner with Cinedigm and step into my destiny as the next horror icon! I'm a lot like Art the Clown from "Terrifier 2" in ways. We both wear silly hats, and we both carry around large black trash bags. Except his bag is filled with murder tools, and mine is filled with mommy issues and social anxiety."

The deal was negotiated by Brandon Hill, Director of Acquisitions, on behalf of Cinedigm and Pip Ngo, on behalf of XYZ Films. Bowser is repped by Heroes and Villains Entertainment. 

SCREAMBOX features a broad mix of content for casual and die-hard horror fans alike. The service is refreshed monthly with content from the Company's extensive genre library with films and episodes delivering every type of terror imaginable -- Supernatural, Slashers, Zombies and more. SCREAMBOX currently features classic horror films like Slumber Party Massacre and the original House on Haunted Hill, the blockbuster indie horror films The Outwaters and Terrifier 2 as well as horror series such as "The Island" and "Master of Horror." SCREAMBOX recently acquired the docuseries "RoboDoc: The Creation of RoboCop" and the documentary film "Hollywood Dreams and Nightmares: The Robert Englund Story". SCREAMBOX is available to stream on iOS, Android, Prime Video, YouTube TV, Comcast, Cox and screambox.com.

ABOUT CINEDIGM   
For more than 20 years, Cinedigm (NASDAQ: CIDM) has led the digital transformation of the entertainment industry. Today, Cinedigm entertains consumers around the globe by providing premium feature film and television series, enthusiast streaming channels and technology services to the world's largest media, retail and technology companies. As a leader in the rapidly evolving streaming ecosystem, Cinedigm continues its legacy as an innovator through its adoption of next-generation technologies, such as artificial intelligence and machine learning, through its proprietary, highly-scalable Matchpoint™ technology platform. For more information, visit cinedigm.com. 

ABOUT SCREAMBOX 
Stream. Scream. Repeat. Powered by Bloody Disgusting, SCREAMBOX delivers every type of terror imaginable -- Supernatural, Slashers, Classics, Zombies, Extreme, Psychological, Cult, Underground, Banned Movies and more. Discover horror you won't find anywhere else and visit www.screambox.com for more information.  SCREAMBOX is available to stream on iOS, Android, Prime Video, YouTube TV, Comcast and screambox.com. 

PRESS CONTACT FOR CIDM:
The Lippin Group for Cinedigm
cinedigm@lippingroup.com

Julie Milstead
investorrelations@cinedigm.com

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SOURCE Cinedigm Corp.

FAQ

What is the significance of Cinedigm acquiring Onyx the Fortuitous?

Cinedigm's acquisition of Onyx the Fortuitous aims to enhance its portfolio and attract horror fans, leveraging a popular character with a significant online following.

When will Onyx the Fortuitous be released?

Onyx the Fortuitous is set to be released in theaters this fall, followed by an exclusive launch on SCREAMBOX.

What are the expected impacts of the film's release on CIDM stock?

The film's successful release could lead to increased subscriber growth for SCREAMBOX, positively impacting CIDM stock's performance.

Who are the main characters in Onyx the Fortuitous?

The film stars Andrew Bowser as Onyx, along with notable actors like Jeffrey Combs and Olivia Taylor Dudley.