BondIt Media Capital and Cineverse form Unique and Innovative Partnership to Finance Film Distribution
BondIt Media Capital has formed a new co-financing partnership with Cineverse (NASDAQ: CNVS) for film distribution. The partnership will be used as a model for future Cineverse film projects. The first project under this financing is the distribution of Terrifier 3, a sequel to the successful Terrifier 2, set to release in October 2024. BondIt and Cineverse closed the financing deal to support Cineverse's distribution rights for Terrifier 3 in April 2024.
BondIt Media Capital and Cineverse have entered into a co-financing partnership for film distribution, which showcases potential for collaboration in the future.
BondIt's support for Cineverse's distribution rights for Terrifier 3 indicates confidence in the project's success and the partnership's ability to generate strong returns on investment.
Cineverse's successful track record with Terrifier 2 and its anticipation for Terrifier 3 position the company favorably in the horror film genre, attracting mainstream and passionate fans alike.
While the partnership between BondIt and Cineverse for film distribution is promising, there may be risks associated with the financial investment in independent film projects like Terrifier 3.
Partnership to Be Used as a Model for Future Cineverse Film Projects
The first example of this financing is in support of the distribution for Cineverse and Bloody Disgusting's upcoming Terrifier 3, the third installment in the worldwide cult horror phenomenon featuring Art the Clown.
Terrifier 2, produced on a micro-budget, went on to generate over
BondIt and Cineverse engaged in partnership discussions ahead of the newest installment of the horror franchise and have now closed financing that support Cineverse's domestic distribution rights for Terrifier 3, which wrapped production in April 2024 in
"We're thrilled to be working with Chris, Gary, Yolanda and the full Cineverse team," said Matthew Helderman, BondIt Media Capital's CEO and Co-Founder. "Having worked with Cineverse a number of times over the years, the expansion of their business into larger tier projects like Terrifier 3 gave us the opportunity not only to partner on this genuinely exciting film that is the rare instance of an independent project breaking through to the broader zeitgeist in the current marketplace, but also across a larger slate of opportunities we're now gearing up for throughout the remainder of 2024."
Added Cineverse Chairman and CEO Chris McGurk, "Given Terrifier 2's success both at the box office, with passionate fans of slasher movies, and as a mainstream pop culture phenomenon, there has been a tremendous amount of excitement building for Terrifier 3 – named one of
BondIt Media Capital is coming off a market leading deal from
About Cineverse
Cineverse's advanced, proprietary technology drives the distribution of over 71,000 premium films, series, and podcasts to more than 82 million unique viewers monthly. From providing a complete streaming solution to some of the world's most recognizable brands, to super-serving their own network of fan channels, Cineverse (NASDAQ: CNVS) is powering the future of Entertainment. For more information, please visit cineverse.com.
About BondIt
BondIt Media Capital is a world renown film, television, and media financier founded in 2013 by Matthew Helderman and Luke Taylor. BondIt has deployed over
BondIt projects include Oscar nominated Loving Vincent, the Emmy winning Street Gang: How We Got to Sesame Street for HBO, the Roland Emerich directed war epic Midway, the Indie Spirit winner The Peanut Butter Falcon, and projects Robert De Niro, Bruce Willis, John Travolta, Uma Thurman, Nicolas Cage, Arnold Schwarzenegger, Liam Neeson, Mel Gibson, Kevin James, Morgan Freeman, Jason Sudeikis, Kevin Smith, and Samuel L. Jackson resulting in over
Contacts
Cineverse:
For Media
The Lippin Group, cineverse@lippingroup.com
For Investors
Julie Milstead, investorrelations@cineverse.com
BondIt:
Tim Healy, Tim@Buffalo8.com
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SOURCE Cineverse Corp.
FAQ
What partnership has BondIt Media Capital formed?
BondIt Media Capital has formed a co-financing partnership with Cineverse for film distribution.
What is the stock symbol for Cineverse?
The stock symbol for Cineverse is CNVS.
When is Terrifier 3 set to release?
Terrifier 3 is set to release in theaters on October 11, 2024.
What recent success has Cineverse had?
Cineverse achieved success with Terrifier 2, generating over $15 million at the worldwide box office as a breakout hit in 2022.
