Cinedigm Announces Continued Record Ad-supported Audience and Viewership Growth in May 2020

Rhea-AI Summary

Cinedigm (NASDAQ: CIDM) reported record growth in audience for its ad-supported streaming networks. In May 2020, the company reached approximately 13.2 million monthly active viewers, a 38% increase from March 2020 and 193% growth from October 2019. Key achievements include 10.4 million viewers on FAST channels and 2.8 million on AVOD channels. Viewing hours surged by 43%, with ad requests on connected TV rising to 92% of inventory. New initiatives include the launch of CONtv Anime and expansion of third-party operated channels, increasing addressable devices to 330 million in North America.

Positive

• Record growth in monthly active viewers to approximately 13.2 million, up 38% from March 2020.
• Total viewing hours up 43% from March 2020, indicating rising audience engagement.
• Increased demand for connected TV ads, comprising 92% of inventory, due to market shift to streaming.
• Expansion of partnerships with 12 new advertising demand partners, totaling 30.

Negative

• None.

LOS ANGELES, June 19, 2020 (GLOBE NEWSWIRE) -- Cinedigm (NASDAQ: CIDM) today announced continued record growth in audience and viewership for its rapidly expanding portfolio of advertising-based streaming entertainment networks.

In May 2020, Cinedigm’s Monthly Active Viewers reached approximately 13.2 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 over 38% from the 9.7 million viewers reported in March 2020, and up nearly 193% from the 4.5 million viewers reported in October, 2019.

Key Milestones and Facts:

• FAST linear channel delivery reached approx. 10.4 million monthly active viewers across nine live channels across the company’s partner base including Xumo, Stirr, Samsung TV Plus™, The Roku Channel™, Vizio Watch Free™, DistroTV, Amazon’s IMDB TV, and many more.
• AVOD channel delivery reached approx. 2.8 million monthly unique viewers across six streaming channels on partners including Tubi, Stirr, Xumo, and others.
• Total viewing hours were up 43% from March 2020, driven by an increase in user viewing sessions that were up by more than 77%.
• The company Increased highly valuable connected TV (CTV) ad requests to 92% of the company’s overall inventory mix. CTV Ad inventory remains in high demand by advertisers seeking to reach audiences in a “living room” environment who are increasingly reducing their time watching traditional linear television.
• The company added 12 new advertising demand partners since March, bringing the total demand partners filling Cinedigm Networks inventory to 30, and up from eight partners at the beginning of the year.

“We are in the middle of a generational opportunity as the $70 billion US television ad market rapidly shifts where the viewers are – on streaming, ad-supported networks,” says Erick Opeka, President of Cinedigm Digital Networks. “This continued, unprecedent surge in users and consumption across our networks validates our business model of building streaming channels with the world’s best content producers, and bringing them to hundreds of millions of devices globally with the world’s biggest telcos, platforms, and device manufacturers.”

Updates on Recent and Upcoming Key OTT Initiatives:

• Launch of the Bob Ross Channel – Since launching in April 2020, The Bob Ross Channel has quickly become the company’s #1 performing FAST streaming channel in terms of unique viewers and viewer sessions. Due to overwhelming demand from distribution partners, Cinedigm is rapidly expanding the channel’s distribution base and anticipates numerous new partner launches over the next 60 days that will rapidly increase the channel’s addressable footprint.
   
• Launch of Company Owned Networks – This month, the company announced the launch of CONtv Anime, a 24/7 Japanese Animation Network, along with the rebranding of the Viewster service in Europe as CONtv Anime. Given the company’s library of more than 30,000 hours of digital film and television rights, the company plans up to two additional owned movie channel launches within the current fiscal year.
   
• Additional 3^rd Party Operated Channels – The company anticipates the launch of four new channels with partners All3Media and SPI International in the coming quarter. The company reiterates its goal of expanding the overall number of channels under operation to more than 30 within the next 18 months.
  
  
• Distribution Expansion – Since the beginning of 2020, Cinedigm has entered partnerships that have dramatically increased addressable device footprint to an estimated 330 million in North America, and an estimated additional 365 million overseas, with an emphasis on The European Union, Latin America, and Asia. Since January, the company has announced launches on DistroTV, Zeasn/Philips, Vizio WatchFree, Foxxum, Redbox, and Vewd. The company plans to continue rapid expansion with digital platforms, OEMs, telcos, and cable & broadband providers both domestically as well as internationally.

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/.

Press Contact for CIDM:
Jill Newhouse Calcaterra
jcalcaterra@cinedigm.com
310-466-5135

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” "plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Cinedigm is using forward-looking statements in this press release when it discusses expected future streaming channel operating plans and launches. Because such statements deal with future events and are based on Cinedigm’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Cinedigm could differ materially from those described in or implied by the statements in this press release.

The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Cinedigm’s annual report on Form 10-K filed with the SEC on July 16, 2019, and in any subsequent filings with the SEC. Except as otherwise required by law, Cinedigm undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Cinedigm is not responsible for the contents of third-party websites.

FAQ

What was Cinedigm's monthly active viewer growth in May 2020?

Cinedigm reported a growth to approximately 13.2 million monthly active viewers in May 2020, a 38% increase from March 2020.

How many viewers does Cinedigm have on its FAST and AVOD channels?

Cinedigm has about 10.4 million monthly active viewers on FAST channels and 2.8 million on AVOD channels.

What percentage increase in viewing hours did Cinedigm see from March 2020?

Cinedigm experienced a 43% increase in total viewing hours from March 2020.

How many new advertising demand partners did Cinedigm add since March?

Cinedigm added 12 new advertising demand partners since March, bringing the total to 30.

What is the addressable device footprint for Cinedigm as of 2020?

Cinedigm's addressable device footprint is estimated at 330 million in North America and an additional 365 million overseas.