On the Heels of Another Record-Breaking Year on TVOD, Cinedigm Announces Contract Renewal with Crown Media Family Networks (Hallmark Channel)

Rhea-AI Summary

Cinedigm (NASDAQ:CIDM) has extended its nearly decade-long agreement with Hallmark Channel to manage their content distribution on TVOD and physical markets. This partnership has led to growth in the transactional business, outperforming industry trends, thanks to Hallmark's quality films and series. For the first time, they will offer digital rentals on select titles. The collaboration emphasizes both companies' commitment to delivering engaging content to a passionate audience through various digital platforms and retail strategies.

Positive

• Extension of the agreement with Hallmark Channel strengthens long-term partnership.
• Digital rental of select titles marks a new revenue opportunity.
• Strong growth in the transactional business outpacing industry trends.
• Hallmark's quality content continues to attract enthusiastic audiences.

Negative

• None.

• The Deal Extends the Long-Standing Relationship of Almost a Decade
• Cinedigm Will Continue to Manage Hallmark Channel's TVOD and Physical Business

LOS ANGELES, CA / ACCESSWIRE / October 11, 2021 / Cinedigm (NASDAQ:CIDM), the leading independent distribution company, announced today that the Company has extended its agreement with Hallmark Channel to distribute the network's content on TVOD and Physical. The two companies have worked together for nearly a decade and have grown the transactional business outpacing industry trends. The growth can be attributed to the superior quality of Hallmark's original films and scripted series. With a vast library, Hallmark has found a passionate audience in both the physical market, as well as on digital platforms like Amazon, Apple and VUDU. As part of the renewal, Cinedigm and Hallmark will open up digital rental on select titles for the first time ever.

The strength of Hallmark's original films and series continues to draw an enthusiastic audience, eager for storytelling rooted in optimism, hope and human connection. An engaged fanbase, along with diversified digital & physical strategies, such as day after air and in-store exclusives, have translated into a powerful partnership. Together the teams also maximize catalog revenue through promotions that align with Hallmark's on-air initiatives throughout the year.

"Hallmark is a special studio because their content does more than just entertain, they evoke a feeling of joy and warmth with their passionate fan base," said Yolanda Macias, Chief Content Officer and Head of Digital Sales. "With so much uncertainty in the world, they remind us of the values we all have in common: the importance of friendship, family and love. Seeing how audiences gravitate towards this content gives us a sense of pride; it's touching to know that we can play a part in building a connection between the audience and these films by making them available to own and now rent."

"We at Crown Media greatly value our ongoing relationship with Cinedigm, which allows us to bring our heartwarming, uplifting content to fans anywhere and everywhere, across retail and digital," said Natalie Vandergast, Vice President Consumer Products. "We look forward to continuing this rewarding partnership in the years ahead as our content offerings and fanbase continue to grow."

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.

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 (https://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.

For additional information:
Media Contact:
DKC Public Relations
cinedigm@dkcnews.com

Investor Relations Contact:
High Touch Investor Relations
Cinedigm@htir.net

SOURCE: Cinedigm Corp.

View source version on accesswire.com:
https://www.accesswire.com/667477/On-the-Heels-of-Another-Record-Breaking-Year-on-TVOD-Cinedigm-Announces-Contract-Renewal-with-Crown-Media-Family-Networks-Hallmark-Channel

FAQ

What is the significance of Cinedigm's contract renewal with Hallmark Channel?

The renewal extends a nearly decade-long partnership, enhancing content distribution capabilities, including the introduction of digital rentals.

When was the contract renewal between Cinedigm and Hallmark Channel announced?

The contract renewal was announced on October 11, 2021.

How has the partnership between Cinedigm and Hallmark Channel benefited their businesses?

The partnership has driven significant growth in their transactional business, outperforming industry trends, through quality content and diversified distribution strategies.

What new opportunities does the renewed agreement offer Cinedigm?

The agreement introduces digital rental options for select Hallmark titles, expanding revenue streams.

What is Cinedigm's stock symbol?

Cinedigm's stock symbol is CIDM.