Cinedigm Acquires Over 1,000 Hours of Premium Film and TV Programming for Growing Streaming Channel Business

Rhea-AI Summary

Cinedigm (NASDAQ: CIDM) has enhanced its content library by adding over 1,000 hours of premium programming, including 450 films and 70 new series, aiming to capture a share of the projected $1.2 billion in holiday streaming ad spending. The acquisitions feature notable titles like documentaries on David Bowie and Elvis, and popular series including Ghost Hunters. Cinedigm intends to increase viewership by 30-40% in Q4, leveraging a rise in ad dollars, which surged by 88% month-over-month. Additionally, the company is expanding into Spanish-language programming and has agreed to acquire The Film Detective.

Positive

• Added over 1,000 hours of premium content, including 450 films and 70 series, enhancing viewer engagement.
• Aiming for a 30-40% increase in viewership during Q4, capitalizing on the holiday streaming surge.
• Expected to capture a share of the $1.2 billion in projected holiday ad spending.
• Additional focus on Spanish-language programming expands market reach.
• Acquisition of The Film Detective adds nearly 13,000 film and television episodes to the library.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)--Cinedigm (NASDAQ: CIDM) announced today that the Company has added over 1,000 hours of programming to its extensive library. This influx of premium content supports new internal primetime programming strategies to capture a share of the $1.2 billion projected streaming holiday ad spending this season. This move will allow Cinedigm to continue to refresh and curate high quality content across its wide range of streaming networks that reach hundreds of millions of devices.

This most recent set of content acquisitions includes over 450 films and more than 70 new series. Cinedigm continues to strengthen the Company’s catalog with new content including documentaries featuring music icons such as David Bowie in Bowie: The Man Who Changed The World and Elvis in Elvis – A Generous Heart and television classics with the iconic Betty White in Betty White: Date with Angels. Some additional highlights to be offered within the Company’s digital networks include horror films The Hills Have Eyes & Audition, Syfy Channel’s wildly popular series Ghost Hunters, classics like Dr. Jekyll and Mr. Hyde & Flash Gordon and kids and family series Babar as well as the Boonie Bears franchise.

In addition, Cinedigm has bolstered its existing portfolio of Westerns, True Crime and Holiday titles through these most recent acquisitions. The Company has also begun a recent move into Spanish language programming with titles such as El Boxeo (boxing documentary) Mix L.A. (Spanish version) and Chuckie Perez Show (faith & family programming).

“Our team has worked over the last few months to fill our library with quality content that will resonate with both streaming platforms and audiences alike,” said Yolanda Macias, Executive Vice President, Cinedigm Entertainment Group. “We expect these acquisitions will excite and attract new viewers while taking advantage of vastly increased consumption during the calendar 4^th quarter, the strongest period of the year.”

“These recent acquisitions are timed to drive engagement during primetime on our streaming channels, where our goal is to increase viewership by 30-40% in calendar Q4 and capture more advertising dollars,” said Erick Opeka, Cinedigm’s President of Digital Networks. “Ad dollars have surged 88% month-over-month and we expect to deliver up to 40% of the year’s ad revenues in the 4^th calendar quarter.”

The Company also capitalized on the record setting AVOD growth this past year by closing distribution deals with prominent platforms including: NBCUniversal’s Peacock, Viacom’s Pluto, Roku and Redbox. Cinedigm continues to invest in independent content to distribute across all premium platforms including The Voices staring Lin Shaye, the prolific documentary Wild Daze and Steps, which is Executive Produced by Shaquille O’Neal.

In addition to adding all these quality titles, Cinedigm recently announced an agreement to acquire The Film Detective, a top source for digitally remastered classic films and series and owner of 2 successful streaming channels, combining those assets with the Company’s growing portfolio of content and digital networks. With a catalog of nearly 13,000 film and television episodes, The Film Detective’s robust library is sure to have something for everyone.

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.