CINEVERSE ACHIEVES SIGNIFICANT YEAR-OVER-YEAR FAST VIEWING GAINS
Cineverse Corp. (NASDAQ: CNVS) reported significant growth in free ad-supported streaming TV (FAST) viewing for Q2 2024. The company's FAST channels achieved 2.26 billion minutes watched, a 73% increase from the same period last year. Cineverse's owned and operated brands contributed 33% of the year-over-year gains, while partner brands accounted for 50%, and new channel growth added 17%.
This growth demonstrates Cineverse's ability to build and market niche brands effectively. The company's Chief Strategy Officer, Erick Opeka, highlighted the alignment of this surge with the launch of their direct sales team and the availability of CTV inventory. Cineverse's multiple revenue streams include AI-powered content discovery tool CineSearch, OTT solution Matchpoint™, and expansion of India-based Cineverse Services.
Cineverse Corp. (NASDAQ: CNVS) ha riportato una significativa crescita nella visione streaming TV supportata da pubblicità (FAST) per il secondo trimestre del 2024. I canali FAST dell'azienda hanno raggiunto 2,26 miliardi di minuti visti, un aumento del 73% rispetto allo stesso periodo dell'anno scorso. I marchi di proprietà e gestiti da Cineverse hanno contribuito al 33% dei guadagni anno su anno, mentre i marchi partner hanno rappresentato il 50% e la crescita dei nuovi canali ha aggiunto il 17%.
Questa crescita dimostra la capacità di Cineverse di costruire e commercializzare efficacemente marchi di nicchia. Il Chief Strategy Officer dell'azienda, Erick Opeka, ha evidenziato l'allineamento di questo aumento con il lancio del loro team di vendite dirette e la disponibilità di inventario CTV. I molteplici flussi di reddito di Cineverse includono lo strumento di scoperta dei contenuti alimentato dall'IA CineSearch, la soluzione OTT Matchpoint™ e l'espansione di Cineverse Services basata in India.
Cineverse Corp. (NASDAQ: CNVS) reportó un crecimiento significativo en la visualización de televisión en streaming apoyada por publicidad (FAST) para el segundo trimestre de 2024. Los canales FAST de la compañía alcanzaron 2.26 mil millones de minutos vistos, un incremento del 73% en comparación con el mismo periodo del año anterior. Las marcas de Cineverse de propiedad y operación propia contribuyeron con el 33% de las ganancias interanuales, mientras que las marcas asociadas representaron el 50%, y el crecimiento de nuevos canales agregó un 17%.
Este crecimiento demuestra la capacidad de Cineverse para construir y comercializar marcas de nicho de manera efectiva. El Director de Estrategia de la compañía, Erick Opeka, destacó la alineación de este aumento con el lanzamiento de su equipo de ventas directas y la disponibilidad de inventario CTV. Los múltiples flujos de ingresos de Cineverse incluyen la herramienta de descubrimiento de contenido impulsada por IA CineSearch, la solución OTT Matchpoint™ y la expansión de Cineverse Services con base en India.
Cineverse Corp. (NASDAQ: CNVS)는 2024년 2분기 광고 지원 스트리밍 TV(Fast)에 대한 시청에서 상당한 성장을 보고했습니다. 회사의 FAST 채널은 22억 6천만 분의 시청 시간을 기록했으며, 이는 지난해 같은 기간 대비 73% 증가한 수치입니다. Cineverse가 소유하고 운영하는 브랜드는 연간 증가의 33%를 차지했고, 파트너 브랜드는 50%, 신규 채널 성장에 의해 17%가 추가되었습니다.
이 성장은 Cineverse가 틈새 브랜드를 효과적으로 구축하고 마케팅할 수 있는 능력을 보여줍니다. 회사의 최고 전략 책임자인 Erick Opeka는 이러한 증가가 직접 판매 팀의 출범과 CTV 인벤토리의 가용성과 일치함을 강조했습니다. Cineverse의 여러 수익원에는 AI 기반 콘텐츠 검색 도구인 CineSearch, OTT 솔루션 Matchpoint™, 그리고 인도에 본사를 둔 Cineverse Services의 확장이 포함됩니다.
Cineverse Corp. (NASDAQ: CNVS) a rapporté une croissance significative des visionnages de télévision en streaming soutenus par la publicité (FAST) pour le deuxième trimestre de 2024. Les chaînes FAST de la société ont atteint 2,26 milliards de minutes regardées, soit une augmentation de 73% par rapport à la même période l'année dernière. Les marques détenues et gérées par Cineverse ont contribué à 33 % des gains d'une année sur l'autre, tandis que les marques partenaires représentaient 50 %, et la croissance des nouvelles chaînes a ajouté 17 %.
Cette croissance démontre la capacité de Cineverse à construire et à commercialiser efficacement des marques de niche. Le directeur de la stratégie de l'entreprise, Erick Opeka, a souligné l'alignement de cette augmentation avec le lancement de leur équipe de vente directe et la disponibilité de l'inventaire CTV. Les multiples sources de revenus de Cineverse comprennent l'outil de découverte de contenu alimenté par l'IA CineSearch, la solution OTT Matchpoint™ et l'expansion des services Cineverse basés en Inde.
Cineverse Corp. (NASDAQ: CNVS) berichtete über ein signifikantes Wachstum im Bereich der werbefinanzierten Streaming-TV-Nutzung (FAST) für das zweite Quartal 2024. Die FAST-Kanäle des Unternehmens verzeichneten 2,26 Milliarden Minuten angesehen, was einem 73%igen Anstieg im Vergleich zum Vorjahreszeitraum entspricht. Die eigenen und betriebenen Marken von Cineverse trugen zu 33% der Jahr-zu-Jahr-Zuwächse bei, während Partner-Marken 50% ausmachten und das Wachstum neuer Kanäle 17% hinzufügte.
Dieses Wachstum belegt die Fähigkeit von Cineverse, Nischenmarken effektiv aufzubauen und zu vermarkten. Der Chief Strategy Officer des Unternehmens, Erick Opeka, hob hervor, dass dieser Anstieg mit der Einführung seines Vertriebsteams und der Verfügbarkeit von CTV-Inventar übereinstimmt. Zu den verschiedenen Einnahmequellen von Cineverse gehören das KI-gestützte Inhaltsentdeckungswerkzeug CineSearch, die OTT-Lösung Matchpoint™ und die Expansion der in Indien ansässigen Cineverse Services.
- 73% year-over-year increase in FAST viewing minutes (2.26 billion in Q2 2024 vs 1.31 billion in Q2 2023)
- Owned and operated brands drove 33% of year-over-year gains
- Partner brands operated by Cineverse contributed 50% of increased minutes watched
- New channel growth accounted for 17% of year-over-year gains
- Launch of direct sales team and availability of CTV inventory
- Multiple revenue streams including AI-powered CineSearch, Matchpoint™ OTT solution, and expansion of India-based Cineverse Services
- None.
Insights
The 73% year-over-year increase in FAST viewing minutes is a strong indicator of Cineverse's growth trajectory. With 2.26 billion minutes watched in Q2 2024, up from 1.31 billion in Q2 2023, the company is demonstrating significant market traction. This growth is particularly impressive given the competitive streaming landscape.
The diversified growth across owned brands (33%), partner brands (50%) and new channels (17%) suggests a well-rounded strategy. This multi-pronged approach could help mitigate risks associated with over-reliance on a single content source. The timing of this growth, coinciding with the launch of a direct sales team and increased CTV inventory, positions Cineverse favorably for potential revenue acceleration, especially heading into high-demand periods like elections and holidays.
Cineverse's success in building "sticky niche brands" highlights a key differentiator in the crowded streaming market. By leveraging data to quickly adapt to viewer preferences, the company demonstrates agility that could be important for long-term success. The 73% increase in viewing minutes suggests strong user engagement, which is vital for ad-supported models.
The company's diversified revenue streams, including AI-powered content discovery (CineSearch) and OTT solutions (Matchpoint™), indicate a forward-thinking approach. These tech offerings could provide additional growth avenues beyond content streaming. The expansion of India-based services for back-end optimization aligns with industry trends towards cost efficiency, potentially appealing to other media companies looking to streamline operations.
Across the Company's Brands, 2.26 Billion Minutes Were Watched, Up
In the fiscal second quarter of 2024, Cineverse's FAST channels amounted to 2.26 billion minutes watched, reflecting a
Cineverse's owned and operated brands drove
These across-the-board gains amid an expansive and growing universe of streaming channels is a testimony to Cineverse's ability to build and market sticky niche brands – from strong single IP to carefully curated genre and movie channels. Cineverse quickly ingests what the data shows the viewers want and incorporates it into strategy.
"We are thrilled with the tremendous growth in FAST viewing minutes, which aligns perfectly with the launch of our direct sales team and the availability of coveted CTV inventory. This surge in engagement comes at a crucial time as we head into the election and holiday season, positioning us strongly for the future," said Erick Opeka, Cineverse's Chief Strategy Officer and President.
Beyond its content, Cineverse's multiple revenue streams include innovations such as its AI-powered content discovery tool, CineSearch; complete OTT solution, Matchpoint™; and the expansion of its
ABOUT CINEVERSE
Cineverse's advanced, proprietary technology drives the distribution of over 70,000 premium films, series, and podcasts to more than 150 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.
Press Contacts:
For Media
The Lippin Group for Cineverse, cineverse@lippingroup.com
For Investors
Julie Milstead, investorrelations@cineverse.com
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SOURCE Cineverse Corp.
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