Cinedigm Partners with The World’s Largest Smart TV Solutions Provider Vewd for Global OTT Channel Distribution

Rhea-AI Summary

Cinedigm (NASDAQ: CIDM) has partnered with Vewd, the leading Smart TV OTT software provider, to distribute its streaming entertainment networks on over 300 million compatible devices worldwide. This partnership enhances Cinedigm’s global reach, particularly in the EU, Latin America, and Asia, tapping into the growing ad-supported video on demand market. Initial channels set to launch include Comedy Dynamics, The Bob Ross Channel, and Docurama. The collaboration aims to capitalize on the global surge in ad-supported OTT revenues, projected to reach $53 billion in five years.

Positive

• Partnership with Vewd expands distribution to over 300 million devices.
• Focus on ad-supported video on demand segment taps into a growing market.
• Initial rollout includes popular channels like Comedy Dynamics and The Bob Ross Channel.

Negative

• None.

LOS ANGELES, June 04, 2020 (GLOBE NEWSWIRE) -- Cinedigm, (NASDAQ: CIDM) a leading provider of OTT entertainment networks and content, announced a partnership with Vewd, the world’s largest Smart TV OTT software provider, offering Cinedigm’s portfolio of streaming entertainment networks on Vewd-enabled devices worldwide. As part of the agreement, Cinedigm’s networks will be available on an install base of more than 300 million Smart TVs and connected devices made by top brands such as Sony, Samsung, Skyworth, Hisense, Philips, and TiVo, among others. Additionally, Cinedigm’s networks will be available on more than 40 million new Vewd-powered devices shipping annually around the world.

The move further extends Cinedigm’s reach and distribution worldwide, expanding the Company’s footprint across top selling OEMs and hardware manufacturers with a special emphasis on the European Union, Latin America and Asia. The partnership further extends Cinedigm’s scale in the fast-growing ad-supported video on demand segment.

The first Cinedigm channels planned for the initial Vewd rollout include:

• Comedy Dynamics: The world’s largest collection of stand-up comedy!   It’s a no drink minimum show 24/7, with the top names of comedy in new & classic performances.
   
• The Bob Ross Channel: Watched by millions, the Bob Ross Channel features the iconic The Joy of Painting series made famous by beloved painter, art instructor, and TV host Bob Ross.  
   
• Docurama: This premium documentary network features award-winning, and eye-opening non-fiction films and series spanning the arts, politics, science, music & history, and more. 

For over 15 years, Vewd has connected consumers around the world to the programming they love. Through strong partnerships with marketplace titans such as Samsung, Sony, Verizon, and TiVo, Vewd leads the charge into the future of entertainment—providing products and services that offer solutions to help simplify the complex television landscape and unite the entire value chain from manufacturers to consumers and everyone in-between, while making OTT content easily accessible on nearly 50 million connected devices each year.

"Vewd is the perfect partner for Cinedigm, as both companies have a common goal to entertain viewers through high-quality programming, now more than ever, as more viewers seek out free alternatives to established Pay-TV services," said Tony Huidor, Cinedigm’s General Manager of Digital Networks. “Vewd’s worldwide reach presents an invaluable opportunity for Cinedigm by allowing us to grow our distribution footprint even further as the ad-supported market continues to mature internationally.”

“With Global ad-supported OTT revenues surging to $53 billion globally over the next five years, our focus is on rapidly expanding our distribution footprint to maximize growth,” said Erick Opeka, President of Cinedigm Networks. “Vewd helps us dramatically expand the viewer base for our rapidly growing portfolio of OTT networks, which we expect to double over the next 18 months.”

ABOUT VEWD
Vewd is the world’s largest smart TV OTT software provider, connecting consumers anywhere to the content they love. By making OTT possible on nearly 50 million connected devices each year, Vewd leads the way in defining the future of entertainment. Our suite of products and services are crafted to simplify complexity and offer solutions that unite the entire value chain, from silicon vendors to end users. Market leaders such as Samsung, Sony, Verizon, TiVo, and many more rely on Vewd products and services. Follow us, as we make OTT extraordinary. Visit Vewd.com to learn more.

ABOUT CINEDIGM
Since inception, Cinedigm (NASDAQ: CIDM) has been a leader at the forefront of the digital transformation of content distribution. Adapting to the rapidly transforming business needs of today’s entertainment landscape, Cinedigm remains a change-centric player focused on providing content, channels and services to the world’s largest media, technology and retail companies. Cinedigm’s Content and Networks groups provide original and aggregated programming, channels and services that entertain consumers globally across hundreds of millions of devices. For more information, visit www.cinedigm.com.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4ef96729-dd70-4de8-a066-28838f26205e

FAQ

What is the significance of the Cinedigm and Vewd partnership?

The partnership enables Cinedigm to distribute its content on over 300 million devices, expanding its global reach in the OTT market.

How many devices will Cinedigm's content reach through the Vewd partnership?

Cinedigm's content will be available on over 300 million Vewd-enabled Smart TVs and connected devices.

What channels will Cinedigm launch on Vewd?

The initial channels include Comedy Dynamics, The Bob Ross Channel, and Docurama.

What is the expected growth in global ad-supported OTT revenues?

Global ad-supported OTT revenues are projected to surge to $53 billion over the next five years.

In which regions does Cinedigm aim to expand its footprint?

Cinedigm is focusing on expanding its presence in the European Union, Latin America, and Asia.