Cinedigm and TwentyOne14 Media partner to Launch A Multi-cultural Streaming Network Available Worldwide for Linear & Ad-Supported Platforms

Rhea-AI Summary

Cinedigm (NASDAQ: CIDM) has partnered with Quincy Newell and TwentyOne14 Media to launch a new urban multi-cultural entertainment network in Q1 2021. This network aims to serve the diverse U.S. demographic, with a focus on African American, Latinx, indigenous, and Asian American audiences. Cinedigm reaches over 670 million devices globally, leveraging its extensive distribution capabilities. The initiative is part of a broader trend highlighting the growing buying power and engagement levels of people of color, expected to exceed $3.9 trillion by 2019.

Positive

• Partnership with Quincy Newell to launch a new multi-cultural entertainment network.
• Targeting a growing audience segment with significant buying power, projected to exceed $3.9 trillion.
• Cinedigm's existing distribution network covers over 670 million devices globally.

Negative

• None.

LOS ANGELES, July 14, 2020 (GLOBE NEWSWIRE) -- Cinedigm (NASDAQ: CIDM) announced today a partnership with renowned entertainment executive Quincy Newell and his company, TwentyOne14 Media, to launch a new, yet to be named, urban multi-cultural entertainment and lifestyle network. The network is slated to launch in the first quarter of 2021 and will be available in the US for linear and AVOD platforms on connected TVs, digital set-top boxes, media-streaming devices, and web-based and online OTT services. Cinedigm currently distributes it channels to more than 670 million devices globally on all major OTT and streaming platforms including Amazon, Samsung, Vizio, Tubi, Xumo, Comcast Xfinity, and dozens more.

People of color represent more than 40% of the U.S. population, and hold a Growing Share of Buying Power in the American Economy. According to a Pew Research study, the combined buying power of people of color reached more than $3.9 Trillion dollars in 2019, and continues to rise by half a percent annually. This growing and diverse audience segment is highly engaged on streaming services, with longer watch times and more frequent viewing sessions. Today’s entertainment audiences are more diverse than ever, and prefer film and television content populated with characters and storylines that reflect their own lives and experiences.

Newell’s network will focus on curating and showcasing programming that is authentic, diverse and inclusive. The network will aspire to be a platform where African American, Latinx, indigenous, and Asian American artists, who are passionate about urban culture, can be their most authentic selves. The channel will focus on a 21-45 adult multicultural audience.

After spending the past 30-years shaping business, marketing and distribution strategies for UrbanWorks Entertainment, Vivendi Distribution, Codeblack Entertainment and Lionsgate, Newell launched content production, distribution, and advisory firm TwentyOne14 (twentyone14media.com). The company’s mission is to deliver resonant content to targeted audiences by leveraging digital technology as the anchor exploitation mechanism, serving as a bridge between filmmakers of color, consumer-friendly technology offerings and a focused, specialized audience. 

Prior to launching TwentyOne14, Newell co-founded Codeblack Entertainment and served as its general manager where he produced and managed the releases of Kevin Hart’s independent box-office hit “Laugh at my Pain,” and T.D. Jakes’ “Woman thou art Loosed: on the 7th Day” (for which he received an NAACP Image Award nomination as producer), among others. Following the company’s acquisition by Lionsgate, Newell served as EVP and GM of the Lionsgate label Codeblack Films, where he oversaw the marketing and theatrical release strategies of notable titles including Kevin Hart’s box-office hit “Let me Explain,” Shola Lynch’s NAACP Image Award-winner “Free Angela and all Political Prisoners,” George Tillman Jr. and Alicia Keyes’ critically acclaimed and NAACP Image Award-nominated “The Inevitable Defeat of Mister & Pete” starring Academy Award winner Jennifer Hudson, the independent thriller “Repentance,” starring academy award winner Forest Whitaker, the Golden Globe-nominated film “Frankie & Alice” starring Academy Award winner Halle Berry, “Addicted,” based on author Zane’s best-selling novel, Queen Latifah and Shakim Compere’s, “Perfect Match,” and the Tupac Shakur, biopic “All Eyez on Me,” which generated over $45 million dollars at the box office.

“I’m excited to join forces with Cinedigm to create a network where diverse voices are supported and encourage filmmakers of color to continue telling stories that offer a rich and more complete portrayal of the world around us,” said TwentyOne14 Media CEO Quincy Newell. “My ultimate mission is to create a network rooted in authenticity and inclusiveness, where we can move culture forward and create a cross-cultural connection. We are stronger together.”

“We are excited to support Quincy and TwentyOne14's mission to bring diverse voices to audiences at scale,” said Erick Opeka, President of Cinedigm Networks. “Quincy and the team's impeccable record of creating compelling, authentic, and inclusive programming to the market, combined with their deep expertise on streaming, makes them the perfect partner to launch this endeavor.”

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/.

About TwentyOne14 Media
TwentyOne14 Media is an advisory, and digital-first content production and distribution company focused on providing independent filmmakers, intellectual property rights holders and brands cross platform monetization solutions. The mission at TwentyOne14 Media is to create and deliver resonant content to targeted audiences by leveraging digital technology as the anchor exploitation mechanism, with TwentyOne14 Media serving as the connection point between creatives of color, consumer-friendly technology offerings and a focused, specialized audience. For more information, visit: twentyone14media.com

Press Contact for Cinedigm Digital Networks:
Jill Calcaterra
jcalcaterra@cinedigm.com
310-466-5135

Press Contact for TwentyOne14 Media:
Iliana Quezada
info@twentyone14media.com
213-454-0532 

FAQ

What is the new network being launched by Cinedigm and TwentyOne14 Media?

Cinedigm is launching a new urban multi-cultural entertainment network in partnership with TwentyOne14 Media, focusing on diverse programming.

When is the new entertainment network by Cinedigm expected to launch?

The new network is slated to launch in the first quarter of 2021.

What audience demographic will the new network target?

The network will primarily target a multicultural audience aged 21-45, representing African American, Latinx, indigenous, and Asian American communities.

How many devices does Cinedigm distribute its channels to?

Cinedigm distributes its channels to over 670 million devices globally.

What is the significance of the buying power of people of color in the U.S.?

According to a 2019 study, the buying power of people of color reached over $3.9 trillion and continues to grow, indicating a vital market segment.