Cinedigm Expands Key Leadership Team Roles To Maximize Streaming Business Growth
Cinedigm (NASDAQ:CIDM) announced key promotions as part of its strategy to enhance growth in the digital streaming sector. Gary Loffredo has been named President while retaining his roles as COO and General Counsel. Erick Opeka now serves as Chief Strategy Officer in addition to his position as President of Digital Networks, and Yolanda Macias ascends to Chief Content Officer. These leadership changes aim to leverage substantial growth across Cinedigm's ad-based channels and content licensing. The strengthened team is expected to drive operational and strategic growth as the company capitalizes on emerging trends in streaming.
- New leadership roles align with strong growth in digital streaming business.
- Gary Loffredo's extensive experience expected to enhance operational execution.
- Erick Opeka's added responsibilities may improve strategic market positioning.
- Yolanda Macias's promotion reflects recognition of her contributions to content acquisition.
- Potential concerns about continuity and experience gaps in new leadership roles.
Gary Loffredo Adds President Role, Erick Opeka adds Chief Strategy Officer Responsibilities and Yolanda Macias Becomes Chief Content Officer
LOS ANGELES, CA / ACCESSWIRE / January 12, 2021 / Cinedigm (NASDAQ:CIDM) announced today the promotions of three key executives. Gary Loffredo adds the title of President/Cinedigm to his current titles of Chief Operating Officer, General Counsel and Secretary of Cinedigm Corp. Erick Opeka adds Chief Strategy Officer, Cinedigm Corp to his current responsibilities as President of Digital Networks. Yolanda Macias is promoted to Chief Content Officer, Cinedigm Entertainment Group (CEG) from Executive Vice President, CEG.
"We have expanded these key roles for the senior leadership team to fully capitalize on the tremendous growth we are experiencing in our digital streaming business," said Chris McGurk, Cinedigm Chairman and CEO. "Having secured the talents of Yolanda, Erick and Gary for the foreseeable future, I am fully confident that we now have the best leadership team in place to rapidly grow the business and expand our leadership position in streaming channels, content and technology. All aspects of our streaming business are already experiencing strong growth, from our ad-based channels to our viewership and paid subscriber base to our digital content licensing business, and this team is now perfectly focused and aligned to further expand that growth operationally, strategically and through the acquisition roll-up initiative of streaming assets we are currently pursuing."
Gary Loffredo is responsible for managing Cinedigm's day to day operations including financial operations, investor relations, public facing company compliance and internal operations, human resources, legal and the digital cinema business. Loffredo is also actively engaged to support, manage and execute on mergers and acquisitions and company-wide initiatives that advance the Company's financial growth and overall value. Loffredo has been a key management figure with Cinedigm since 2000, working in a variety of roles including Senior Vice President - Business Affairs, General Counsel, Secretary, and Interim Co-Chief Executive Officer, and serving on the Board of Directors. He is also Cinedigm's Corporate Secretary.
Erick Opeka brings 18 years of experience as an executive at the intersection of entertainment and technology. Currently, Erick is president of Cinedigm Networks, where he oversees the development, planning, launch and operation of the company's portfolio of linear, ad-supported and subscription streaming services that reach more than 15 million monthly users across nearly 900 million addressable devices. In addition to his role at Cinedigm, Opeka is on the Board of Directors and executive committee of OTT.X, the preeminent trade group representing the streaming industry, and serves as an advisor to numerous streaming and entertainment companies through his work with seed accelerator Techstars. He is also a member of the Producers Guild of America and the Television Academy of Arts & Sciences.
Yolanda Macías is responsible for acquiring global content rights for all distribution platforms, including digital outlets Amazon, NBC Peacock, Tubi, and Pluto, and sourcing content for Cinedigm's owned and operated digital Networks such as the Dove Channel, Bloody Disgusting and ConTV and retail outlets including Walmart. Additionally, she oversees all content marketing including release strategy, growth and management of content. She was honored as one of the Top 50 Women in Business by the Los Angeles Business Journal, one of the Elite Women -for ten years in the home entertainment industry and recognized as a Digital Driver nine times by Home Media Magazine. Yolanda has served on the board of C5LA for several years and was selected as the 2019 Honoree. C5LA is a non-profit organization with the mission of helping under-resourced, high potential youth enroll and persist in college.
Cinedigm has leaned into digital monetization since its inception, offering content providers a pat to global reach on streaming platforms. Data and analytics guide the Company's decisions to follow growth trends such as AVOD and the team closed numerous recent distribution deals including NBC Peacock, Google, Redbox, Local Now, Plex, and Fuse, in addition to existing AVOD partnerships with various platforms such as Tubi, Pluto, Vudu, Amazon, and Roku, amongst others, to carry the new content.
Cinedigm offers global streaming linear, on-demand branded channels while distributing digital films and TV series on every meaningful transactional, SVOD, and AVOD global platform. The Company distributes tens of thousands of hours of film and TV content to over 70 digital platforms in 180+ territories. Branded content includes co-productions in the action, western and military genres along with family (Hallmark, ZDF), anime (Konami Cross Media) and sports championship programs (NFL, NHL).
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.
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