Welcome to our dedicated page for Cineverse news (Ticker: CNVS), a resource for investors and traders seeking the latest updates and insights on Cineverse stock.
Cineverse Corp. (NASDAQ: CNVS) is a pioneering streaming technology and entertainment company, specializing in the distribution and creation of premium content. Leveraging a state-of-the-art proprietary technology platform, Cineverse operates an extensive portfolio of owned and operated streaming channels. These include Subscription Video on Demand (SVOD), Advertising-Based Video on Demand (AVOD), and Free Ad-Supported Streaming Television (FAST) channels.
The company primarily operates through two segments: Content & Entertainment and Cinema Equipment, with the former contributing the majority of its revenues. Cineverse provides a full spectrum of services and content to some of the world's most recognized digital platforms such as iTunes, Netflix, and Amazon, as well as cable and satellite providers like Comcast and Dish Network.
Cineverse is not just a content provider but a technological innovator. Recently, it launched cineSearch, an AI-powered conversational entertainment search platform designed to enhance content discoverability. Utilizing advanced metadata and AI recommendations, cineSearch aims to reduce viewer churn and improve user experience by offering personalized content suggestions.
In addition to its digital streaming services, Cineverse has formed influential partnerships and expanded its international presence. A notable example is the recent collaboration with Australia's Network 10 to bring Cineverse's FAST channels to 10 Play, marking a significant step in its global expansion strategy.
The company also boasts a successful podcast network, achieving over 12 million downloads and streams per month, positioning itself among industry giants. Another key project includes the remastering of
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.
Cineverse Corp. (NASDAQ: CNVS) announces a successful opening for Terrifier 3, which earned $21.4 million at the box office over the four-day holiday weekend. The horror sequel, shown in over 2,500 theaters in North America, is Certified Fresh on Rotten Tomatoes with an 89% Popcornmeter audience score and a B CinemaScore. Chris McGurk, Chairman & CEO of Cineverse, hailed the success as a triumph for independent filmmaking, praising the creative team led by filmmaker Damien Leone and producer Phil Falcone. The film's performance surpassed expectations, competing with major studio releases despite being an indie production. McGurk acknowledged the contributions of various partners and agencies in the film's success, emphasizing the fan-centric marketing strategy that focused on digital engagement and community interaction.
Cineverse Corp. (NASDAQ: CNVS) has launched cineSearch, an AI-powered content discovery tool, for public preview. This innovative platform integrates with top streaming services, including Netflix, to offer personalized recommendations through its AI assistant, Ava. Key features of cineSearch v1.0 include:
- Integration with major streaming platforms
- Customizable AI assistant with voice options
- Saved searches and content organization
- Enhanced user experience with trailers and avatars
Developed using Google Cloud AI technology and partnerships with industry leaders, cineSearch aims to revolutionize content discovery across streaming services. The public can now access cineSearch at cinesearch.com.
Cineverse's horror brand Bloody Disgusting is expanding its merchandise business, tapping into fan nostalgia and retail partnerships. The company has launched exclusive products in 1,700+ Walmart stores, including a sold-out Terrifier 2 VHS collector's edition. Partnerships with Spencer's and Spirit Halloween have led to merchandise lines featuring iconic horror characters.
The success of these initiatives has strengthened the Bloody Disgusting brand, generating revenue through nostalgia-driven products. With the upcoming release of Terrifier 3 on October 11, the company anticipates further growth in product opportunities, including collectible popcorn buckets.
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