Cineverse Corp. - CNVS STOCK NEWS

Cineverse (NASDAQ: CNVS) announced a new lineup of 12 holiday and romance movies from Nicely Entertainment premiering on The Dove Channel starting November 29. The announcement follows Dove's record-breaking viewership in July 2024, with 98 million minutes consumed during their Christmas in July event. The channel has rebranded as a destination for heartwarming stories with the tagline 'Live. Laugh. Dove.' and expects to close 2024 with a 37% year-over-year increase in minutes watched across platforms. The movies will be available on Dove's SVOD apps, AVOD tier, and FAST channel, featuring various romantic holiday themes.

Cineverse (NASDAQ: CNVS) and its horror division Bloody Disgusting have announced release dates for Terrifier 3, which has become the highest-grossing unrated movie ever with over $54 million domestically. The film will be available on EST/VOD November 26, 2024, and physical media December 17, 2024. Physical formats include DVD, Collector's Edition Blu-ray, 4K UHD + Blu-ray, and Steelbook versions, featuring bonus content like a 'Making Of' featurette and 'Eulogy Log' with David Howard Thornton as Art the Clown.

Cineverse (NASDAQ: CNVS) reported Q2 FY2025 results with total revenue of $12.7 million, representing a 20% increase excluding Digital Cinema business. The company achieved a 51% direct operating margin and reduced SG&A expenses by 7%. Notable highlights include a 54% increase in monthly viewership, 98% growth in podcast revenue, and $0.5 million in Adjusted EBITDA. While Q2 results don't include Terrifier 3 performance, the film has generated over $54 million in domestic box office revenue and is expected to contribute at least $20 million in theatrical rental revenues in Q3 FY2025.

Cineverse (NASDAQ: CNVS) reports significant growth in its Cineverse 360 ad platform, with October 2024 marking its strongest month to date, showing a 53% year-over-year increase. The platform now processes over 20 billion CTV ad requests monthly. The C360 Audience Network has attracted major brands including Chase, Hardee's, and Warner Bros., offering targeted advertising across various entertainment genres. The platform played a important role in promoting Terrifier 3, which became the top non-rated box office success, particularly successful among Hispanic audiences who comprised 48% of viewers. The service is now being integrated into Cineverse's Matchpoint™ technology as a monetization option for SaaS customers.

Cineverse (NASDAQ: CNVS) has acquired global rights to a new Silent Night, Deadly Night film, a reboot of the controversial 1984 Santa slasher franchise. The film will be written and directed by Mike P. Nelson, with original executive producers Scott Schneid and Dennis Whitehead returning alongside Jamie R. Thompson. The project is scheduled for late 2025 theatrical release. Brandon Hill and Brad Miska will oversee for Cineverse and executive produce with Erick Opeka and Yolanda Macias. The original 1984 film gained notoriety when parents protested its release, leading to its removal from theaters and subsequent cult classic status.

Cineverse Corp. (NASDAQ: CNVS) announced it will release its second quarter fiscal 2025 financial results on Thursday, November 14, 2024, after market close. The company will host a conference call at 4:30 p.m. ET/1:30 p.m. PT on the same day to discuss the results. The call will be accessible via phone and webcast through the company's investor relations website, with a recording available afterwards.

Cineverse (NASDAQ: CNVS) has appointed Rey Puentenegra as Vice President, Corporate Controller, effective immediately. With over 20 years of experience across Industry, Audit and Regulatory Sectors, Puentenegra will oversee all financial and accounting functions, reporting to CFO Mark Lindsey. His responsibilities include managing accounting operations, regulatory reporting, audit preparation, and internal control policies. Previously Controller at YOUNGLA, Puentenegra has held positions at major firms including KPMG, PwC, and PCAOB. As part of his appointment, he received 85,000 stock appreciation rights with a ten-year term, exercise price of $2.74, vesting over three years from 2025 to 2027.

Cineverse (Nasdaq: CNVS) will celebrate Halloween at the Nasdaq MarketSite in Times Square, featuring Art the Clown from Terrifier 3 ringing the Closing Bell on October 31, 2024. The independent slasher film, distributed by Cineverse, premiered on October 11 and achieved remarkable success by opening at No. 1 at the box office, outperforming major releases including Joker: Folie à Deux.

The film, written and directed by Damien Leone and produced by Phil Falcone, has generated over $45 million domestically, significantly exceeding its budget and expectations. This milestone marks a significant achievement for Cineverse, which has been listed on Nasdaq for nearly two decades.

Cineverse (NASDAQ: CNVS) has announced the launch of GoPro Channel and Real Madrid TV on Lights Out Sports TV, a platform founded by NFL All-Pro Shawne Merriman. The company is also providing over 1,200 hours of VOD content to the platform. The GoPro Channel will feature first-person action sports content, while Real Madrid TV will offer behind-the-scenes access to the soccer club, including match highlights and exclusive interviews. Content highlights include programs like 'Chasing El Niño', Tour de France coverage, NHL After Dark, and comprehensive Real Madrid coverage including LaLiga and Champions League campaigns.