Cinedigm Reports 27% Fiscal Second Quarter Digital Sales Growth in Transactional and Ad-Based Video On Demand
Cinedigm (NASDAQ: CIDM) reported a significant 27% increase in Q2 FY 2021 digital sales from July 1 to September 30 compared to the previous year. This growth was driven by a remarkable 78% rise in transactional video on demand sales with Amazon. The company's streaming service continues to grow, expanding partnerships with platforms like NBC Universal’s Peacock and Fubo. Promotional campaigns have also boosted performance, underscoring consumer engagement in the digital rental and purchase space.
- 27% year-over-year increase in digital sales for Q2 FY 2021.
- 78% year-over-year growth in TVOD sales through Amazon.
- Expanded distribution with new partnerships with major platforms.
- Successful promotional campaigns driving catalog sales.
- None.
LOS ANGELES--(BUSINESS WIRE)--Cinedigm (NASDAQ: CIDM) announced today that Q2 FY 2021 (July 1, 2020 through September 30, 2020) Transactional Video On Demand (TVOD) and Ad-Based Video On Demand (AVOD) digital sales increased
In addition to Cinedigm’s rapidly growing streaming channel business, the Company distributes tens of thousands of hours of premium digital film and TV content to every major streaming platform across the global OTT ecosystem, with over 70 platform partners in over 180 territories worldwide. Key premium branded content includes films in the Action, Horror, Western and Military genres such as the current box office success The Call, along with Family (Hallmark, ZDF), Anime (Konami Cross Media) and Sports (NFL, NHL) content.
“We continue to generate impressive year-over-year double digit growth with our TVOD and AVOD digital sales businesses, yielding a combined
Cinedigm also enacted various promotional programs to accelerate sales of our digital catalog business. The promotional programs that led the catalog business to overperform include Hallmark Summer Romance and Hallmark Bundle promotions on Apple and Vudu, BLM and seasonal promotions like Summer Travel, July 4th, Anime, Labor Day, and Back to School, and TV season catch up sales.
Cinedigm continues to expand its distribution footprint with new accounts, recently closing new deals with NBC Universal’s Peacock, Kanopy, Fubo, Plex, Redbox AVOD, Local Now AVOD, Fuse and opened LATAM for PlutoTV and Tubi.
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, free and paid streaming channels, and technology services to the world’s largest media, technology and retail companies. For more information, visit cinedigm.com.
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