Cinedigm Podcast Network Continues Expansion in Scripted Audio Drama with Two New Original Series and Expects to Triple Output by End of its Fiscal Year Next March

Rhea-AI Summary

Cinedigm (NASDAQ:CIDM) recently announced its Podcast Network surpassed 50 million downloads and plans to triple its podcast offerings to 75 titles by the end of the fiscal year in March. The company has expanded its content lineup by 127%, launching new scripted audio dramas like Skin Crawl and Mayfair Watcher's Society. Cinedigm aims to increase its owned podcasts to over 100 within the next 24 months, positioning itself as a multi-million dollar revenue business. This growth is fueled by a booming podcast audience in the U.S., projected to reach 160 million listeners by the end of 2023.

Positive

• Reached 50 million downloads in its Podcast Network.
• Plans to triple podcast offerings to 75 titles by March 2023.
• Increased content lineup by 127%, from 11 to 25 podcasts.
• Aims to grow owned podcasts to more than 100 in 24 months.

Negative

• None.

Driven by Titles under the Popular Bloody Disgusting Brand, Cinedigm's Growing Podcast Network Passes 50 Million Downloads and Increases Content by 127%, with Plans to Leverage Audio IP for TV Series and Films

Expects to Increase its Owned and Operated Podcasts to more than 100 within 24 Months; Becoming a Multi-Million Dollar Annual Revenue Business

LOS ANGELES, CA / ACCESSWIRE / June 23, 2022 / Cinedigm (NASDAQ:CIDM), a premier streaming company dedicated to serving enthusiast fan bases, today announced that the Cinedigm Podcast Network has reached 50 million downloads and plans to triple its podcast lineup to 75 titles by the end of its fiscal year next March.

To date, the Company owns or distributes 25 podcasts through its Bloody Disgusting and Fandor brands, up 127% from 11 as of March of this year. Future podcast endeavors will fall under the above banners, with Cinedigm also actively pursuing opportunities to create audio content associated with its other brands dedicated to serving enthusiast fans across other genres.

In addition to the recently signed popular horror fiction podcasts such as Scare You to Sleep with Shelby Scott, two new scripted fictional podcasts in development via Bloody Disgusting - which represents the largest share and fastest-growing segment of Cinedigm's Podcast Network - are Skin Crawl and the Mayfair Watcher's Society. See below for full descriptions.

Cinedigm is committed to distributing podcasts to excite and engage its fans. Further signaling the Company's dedication to the podcast business, Cinedigm continues to expand its podcast team across its entire channel portfolio to produce more Audio Dramas, or original scripted series for podcasts, which is the fastest-growing segment of the podcast business. Additionally, partnering with the world's leading independent podcast company Acast has allowed Cinedigm to reach an enthusiastic array of loyal listeners.

"As a leading podcast distributor, Cinedigm is committed to growing our footprint within the podcast space. The company expects to increase its owned and operated podcasts to more than 100 within 24 months," said Erick Opeka, President & Chief Strategy Officer at Cinedigm. "The Audio Drama segment is not only heavily in demand for advertisers, but it also creates and validates valuable IP that can expand into feature films and series."

This expansion mirrors the medium itself, with a booming number of podcast listeners eager for content. Statista reported that around 120 million Americans listened to podcasts last year with 62% of the population 12+ having listened to a podcast this year. By the end of 2023, Statista is expecting the number of podcast listeners to grow to around 160 million.

NEW SHOWS FROM HORROR ARTISTS SKINNER AND TREVOR HENDERSON

Based on the popular magazine, Skin Crawl is a horror anthology inspired by the comics series created by legendary gore artist, Skinner. The podcast will be produced as a full-cast drama, and feature select stories from the comic series as well as some original content. The collaboration with Bloody Disgusting marks the next stage of Skinner's prolific career, who previously was known for working on everything from animation to film to illustrations to music videos. The radio drama will feature surprise voice actors, terrifying tales and incredible sound design when it launches this September.

"I'm really excited to transform these stories, that started in the visual format of comics, into audibly formatted hallucinations," said Skinner.

Mayfair Watcher's Society is based on the work of fellow horror artist and influencer, Trevor Henderson. Venturing into the found footage sub-genre, the podcast will be presented as a community message board where small-town residents report sightings of unusual creatures. Henderson has a huge following within the horror community, with over a million followers on Twitter and Instagram alone. The found footage-esq podcast is currently targeting a pilot release timed to Halloween.

"Working with Bloody Disgusting on this podcast is such an incredible opportunity," said Trevor Henderson. "The evolution of the medium has made it possible for visual artists to reach an entirely new audience. Podcasts allow us to think beyond the conventional story template and push the boundaries of art as a whole. I can't wait to feature some of the creatures I've developed in these scary stories and explore the horror sub-genre through the podcast medium."

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ABOUT CINEDIGM

For more than 20 years, Cinedigm (NASDAQ: CIDM) has led the digital transformation of the entertainment industry. Today, Cinedigm entertains consumers around the globe by providing premium feature film and television series, enthusiast streaming channels and technology services to the world's largest media, retail and technology companies. As a leader in the rapidly evolving streaming ecosystem, Cinedigm continues its legacy as an innovator through its adoption of next-generation technologies, such as artificial intelligence and machine learning, through its proprietary, highly-scalable Matchpoint™ technology platform. For more information, visit cinedigm.com.

Cinedigm uses, and will continue to use, its website, press releases, SEC filings, and various social media channels, including Twitter (Cinedigm Twitter), LinkedIn (Cinedigm LinkedIn), Facebook (Cinedigm Facebook), StockTwits (Cinedigm Stocktwits) 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:

Kevin Broderick / Matt Biscuiti
The Lippin Group
kevin@lippingroup.com / matt@lippingroup.com

High Touch Investor Relations
Cinedigm@htir.net

SOURCE: Cinedigm Corp.

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https://www.accesswire.com/706333/Cinedigm-Podcast-Network-Continues-Expansion-in-Scripted-Audio-Drama-with-Two-New-Original-Series-and-Expects-to-Triple-Output-by-End-of-its-Fiscal-Year-Next-March

FAQ

What recent achievements has Cinedigm (CIDM) made in its podcast network?

Cinedigm's Podcast Network has surpassed 50 million downloads and plans to triple its podcast offerings to 75 titles by March 2023.

How much has Cinedigm's podcast content increased recently?

Cinedigm has increased its podcast content lineup by 127%, growing from 11 to 25 podcasts.

What are Cinedigm's future goals for its podcasts?

Cinedigm aims to increase its owned podcasts to over 100 within the next 24 months.

How is the podcast audience projected to grow in the U.S.?

The U.S. podcast audience is expected to reach approximately 160 million listeners by the end of 2023.