Cinedigm Networks Announces Record Streaming Ad Revenue Growth
Cinedigm (NASDAQ: CIDM) announced a significant boost in its ad-supported streaming channel revenues, with a 29% increase from September to October 2020, and a remarkable 148% year-over-year growth compared to October 2019. The surge is attributed to heightened advertiser demand for connected TV ads, which represent over 96% of all ad impressions. Since March 2020, ad impressions have soared by more than 570%. To further enhance revenue growth, Cinedigm plans to launch 15 new channels and expand its advertising partnerships with key players in the industry.
- 29% revenue growth from September to October 2020.
- 148% year-over-year revenue increase compared to October 2019.
- Ad impressions up over 570% since the Pandemic started in March 2020.
- Added 25 new ad partners in October.
- Plans to launch 15 new channels in the next twelve months.
- None.
LOS ANGELES--(BUSINESS WIRE)--Cinedigm (NASDAQ: CIDM) today announced revenues on the company’s ad-supported streaming channels grew
The company’s ad revenue growth has been driven by a dramatic increase in advertiser demand for connected TV ad revenues, which account for more than
To ensure ad opportunities are filled, Cinedigm has also focused on scaling the total number of advertising supply side platforms (“SSPs”) reaching the company’s inventory, and added 25 new ad partners alone in October.
“Cinedigm is in the perfect position to take advantage of the great shift of ad dollars from Cable to streaming,” Said Erick Opeka, President of Cinedigm Networks. “Major national brand advertisers have woken up to the power of targeted digital advertising in the living room, and our portfolio of premium enthusiast networks delivers the audiences and engagement that is increasingly difficult to reach on legacy television.”
To continue the current ad revenue growth trajectory, Cinedigm plans to further expand the launch of new networks, with 15 new channels signed to launch over the next twelve months. The company is also planning to expand its ad-supported device footprint beyond the current 850 million device base, through the addition of additional high quality partnerships alongside key partners like Samsung, PlutoTV, IMDBtv, Vizio and dozens more.
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.
