Cinedigm Acquires "Films Around the World" Content Library

Rhea-AI Summary

Cinedigm (NASDAQ:CIDM) has acquired the Films Around the World, Inc. content library, adding over 150 feature films and more than 500 hours of audio programming to enhance its streaming services. This library includes classic films and remake rights, aiming to attract classic film enthusiasts. The acquisition supports Cinedigm's revenue streams via AVOD and SVOD and strengthens its content offerings across various platforms. The Films Around the World library also consists of iconic films, including Academy Award® nominated titles and popular radio shows.

Positive

• Acquisition of over 150 feature films and 500 hours of audio programming enhances content library.
• Includes remake rights for over 150 films, expanding Cinedigm's market offerings.
• Supports revenue growth through AVOD and SVOD channels, leveraging existing digital distribution partnerships.

Negative

• None.

ACQUISITION ADDS OVER 150 FEATURE FILMS AND REMAKE RIGHTS; AS WELL AS OVER 500 HOURS OF AUDIO PROGRAMMING TO HELP POWER CINEDIGM'S GROWING STREAMING BUSINESS

LOS ANGELES, CA / ACCESSWIRE / March 16, 2021 / Cinedigm (NASDAQ:CIDM) announced today the acquisition of the Films Around the World, Inc. content library. With more than 150 feature films and more than 500 hours of audio programs, the Films Around The World library was one of the largest remaining independently owned rights managed classic film libraries and will be used to provide unique and sought after content to Cinedigm's growing streaming channel initiatives. Additionally, the FATW library includes remake rights to over 150 feature films.

"The Films Around The World library is a perfect complement to the classic film enthusiast found on our recently acquired The Film Detective and Fandor channels," said Yolanda Macias, Chief Content Officer. "In addition to the advertising-video-on-demand (AVOD) and subscription-video-on-demand revenues, we intend to increase the footprint of this library, reaching even more fans, through our deep digital distribution muscle and numerous transactional digital partners."

Many of original 35mm films stored are currently stored and preserved at the University of California, Los Angeles. The library includes classic dramas, thrillers, comedies and westerns, horror films from 1940s to the 1980s Exploitation films and Cult films from 1970s. In addition, the library includes popular radio shows, including Joe Pyne Radio, Norman Vincent and Jean Shepherd, most known for being the author and narrator of The Christmas Story.

The library also includes the Academy Award® nominated The Shanghai Gesture, a 1941 American film noir based on the Broadway play of the same name. Additional highlights include the iconic horror films Strangler of the Swamp, The Flying Serpent and Devil Bat's Daughter. Westerns found in the library include Navajo Kid as well as some of John Wayne's classics Blue Steel, Dawn Rider and Texas Terror.

Films Around The World was owned and operated by the late Alex Kogan who passed away in 2017. A graduate of the Wharton School of the University of Pennsylvania, B.S.E. 1959, and Harvard Law School, J.D., 1962. Kogan operated in New York for over 40 years.

Previous customers and clients of Films Around The World include: Turner Classic Movies, Amazon, Shout Factory and Starz.

"Alex was a treasure trove of film history, not only was he a passionate collector he was also one of the most resourceful and forward-thinking people I knew on my side of the industry," said Phil Hopkins, President of The Film Detective, "We are thrilled to acquire this important film and media library which includes the original film elements of John Wayne's early films as well as many other important genre films."

ABOUT CINEDIGM

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/.

Cinedigm uses, and will continue to use, its website, press releases, SEC filings, and various social media channels, including Twitter (https://twitter.com/cinedigm), LinkedIn https://www.linkedin.com/company/cinedigm/), Facebook (facebook.com/Cinedigm), StockTwits (https://stocktwits.com/CinedigmCorp) and the Company website (www.cinedigm.com) as additional means of disclosing public information to investors, the media and others interested in the Company. It is possible that certain information that the Company posts on its website, disseminated in press releases, SEC filings, and on social media could be deemed to be material information, and the Company encourages investors, the media and others interested in the Company to review the business and financial information that the Company posts on its website, disseminates in press releases, SEC filings and on the social media channels identified above, as such information could be deemed to be material information.

Press Contact for CIDM:

Jill Calcaterra
310-466-5135
jcalcaterra@cinedigm.com

SOURCE: Cinedigm Corp.

View source version on accesswire.com:
https://www.accesswire.com/635695/Cinedigm-Acquires-Films-Around-the-World-Content-Library

FAQ

What is the significance of Cinedigm's acquisition of Films Around the World?

The acquisition enhances Cinedigm's content library with over 150 films and 500 hours of audio programming, supporting the growth of its streaming services.

How will the Films Around the World acquisition impact CIDM's revenue?

The expanded library aims to increase revenues through advertising and subscription video-on-demand services.

What types of films are included in the Films Around the World library?

The library includes classic dramas, thrillers, horror films, and iconic titles from the 1940s to the 1980s.

Who previously owned the Films Around the World content library?

The library was owned by the late Alex Kogan, who operated it for over 40 years.