Cineverse & Amagi Expand Partnership: Amagi CONNECT to Power FAST Channels on Cineverse

Rhea-AI Summary

Cineverse Corp. expands partnership with Amagi to leverage Amagi CONNECT, allowing for quicker monetization and easier discovery process for streaming platforms. The partnership aims to bring more third-party content to Cineverse and expand its reach internationally.

Positive

• Cineverse's presence as a Top 10 provider of AVOD catalog will be bolstered, positioning them as a major player in the $18 Billion FAST space. It establishes Cineverse as a top competitor in the rapidly expanding high-growth arena of streaming offerings.

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• None.

One of the Largest Portfolios of Owned and Operated Streaming Channels & Platforms Joins Amagi's FAST Marketplace Allowing for Quicker Monetization and an Easier Discovery Process for Platforms Around the World

LOS ANGELES, July 17, 2023 /PRNewswire/ -- Cineverse Corp. (NASDAQ: CNVS), a global streaming technology and entertainment company with one of the world's largest portfolios of streaming channels and content libraries, announced today that it is expanding its strategic partnership with Amagi to leverage Amagi CONNECT, the premiere end-to-end FAST marketplace with global reach.  As part of this partnership, Amagi will provide its portfolio of hundreds of FAST channels to the flagship Cineverse streaming service as well as add Cineverse's portfolio of streaming channels to the Amagi CONNECT marketplace. The partnership aims to bring more third-party content to Cineverse and expand Cineverse's reach internationally by allowing more streaming platforms the ability to discover the large breadth of streaming content the Company has to offer.

Amagi, the global leader in cloud-based SaaS technology for broadcast and connected TV, continues to grow its end-to-end FAST marketplace, Amagi CONNECT, to facilitate the discovery, connection, and monetization of streaming content around the world.

Amagi CONNECT has become the preferred choice for many FAST platforms, including LG Channels, Plex, TCL, VIDAA Free, Rakuten TV, Xiaomi, Redbox, Canela, Netgem, and more, as they seek to offer their viewers the highest quality content available in global markets.

"Cineverse's existing presence as a Top 10 provider of AVOD catalog will be further bolstered by this partnership, positioning us as major player in the $18 Billion FAST space," said Erick Opeka, President & Chief Strategy Officer of Cineverse. "Additionally, it establishes Cineverse as a top competitor in the rapidly expanding high-growth arena of streaming offerings."

"Expanding our relationship to leverage Amagi CONNECT is an important step in our plans to expand the availability of channels on Cineverse while also fast-tracking our ability to establish a FAST business internationally," stated Tony Huidor, Chief Operating Officer & Chief Technology Officer at Cineverse. "Amagi's marketplace and industry-leading reach will allow us to expand our growing FAST markets outside of the U.S.  This will aid easy discoverability of Cineverse's FAST channels by Connected TV manufacturers, virtual MVPDs and many emerging international OTT platforms seeking access to quality streaming content while allowing both sides of the ecosystem to rapidly launch new FAST channels across new territories easily. Furthermore, we aim to enhance and refresh Cineverse's FAST channels on a regular basis through strategic content acquisitions that cater to diverse audiences and drive viewership on a global scale."

Streaming linear channels from Cineverse, beyond its flagship service of the same name include  AsianCrush, The Bob Ross Channel, RetroCrush, Comedy Dynamics, Midnight Pulp, Crime Hunters, The Dove Channel, Fandor and Screambox TV and many more. These channels are available now on the Amagi CONNECT marketplace for platforms to add to their line-ups.

About Cineverse
Cineverse is a global streaming technology and entertainment company with the world's largest portfolio of owned and operated streaming channels, all powered by its advanced, proprietary technology platform. Cineverse currently features enthusiast brands for subscription video on demand (SVOD), advertising-based video on demand (AVOD) and free, ad-supported streaming television (FAST) channels. Cineverse entertains consumers around the globe by providing premium feature film and television series, enthusiast streaming channels and technology services to some of the world's largest media, retail and technology companies. For more information, please visit www.cineverse.com.

About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24x7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 700+ content brands, 800+ playout chains, and over 2100 channel deliveries on its platform in over 40 countries. Amagi has a presence in New York, Los Angeles, Toronto, London, Paris, Melbourne, Seoul, Singapore, and broadcast operations in New Delhi, and an innovation center in Bangalore.

PRESS CONTACT FOR CINEVERSE:
The Lippin Group for Cineverse                                
cineverse@lippingroup.com

Julie Milstead
investorrelations@cineverse.com

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SOURCE Cineverse Corp.

FAQ

What is the partnership between Cineverse and Amagi about?

The partnership aims to bring more third-party content to Cineverse and expand its reach internationally.

What does this mean for Cineverse?

Cineverse's presence as a Top 10 provider of AVOD catalog will be bolstered, positioning them as a major player in the $18 Billion FAST space. It establishes Cineverse as a top competitor in the rapidly expanding high-growth arena of streaming offerings.

Which channels are available on the Amagi CONNECT marketplace?

Streaming linear channels from Cineverse, including AsianCrush, The Bob Ross Channel, RetroCrush, Comedy Dynamics, Midnight Pulp, Crime Hunters, The Dove Channel, Fandor, and Screambox TV, are available on the Amagi CONNECT marketplace.