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 Corp. (NASDAQ: CNVS) has announced that its Dog Whisperer With Cesar Millan FAST channel is now streaming on VIZIO (NYSE: VZIO) Smart TVs. The channel is available on VIZIO WatchFree+ (ch. 1003), providing free 24/7 access to over 160 episodes from all nine seasons of the popular animal training series. This expansion allows Cineverse to reach millions of VIZIO users and broaden access for advertisers to new audiences.
The Dog Whisperer series, featuring Cesar Millan helping owners with behaviorally challenged pets, debuted in 2004 on National Geographic Channel. It became Nat Geo's most popular series for six years, attracting up to 10 million viewers per week and celebrity appearances. By 2010, the show had entered syndication via FOX and expanded to over 80 countries internationally.
Cineverse Corp. (NASDAQ: CNVS) has announced a partnership with Wurl, to distribute and expand its free, ad-supported streaming television (FAST) channels. This collaboration will streamline channel launches through integration with Cineverse's Matchpoint platform and enhance monetization opportunities. Cineverse will migrate most of its existing FAST channels to Wurl's Global FAST Pass, including The Bob Ross Channel, Barney, and Real Madrid Channel. The partnership aims to benefit from:
- Easier channel launches
- Reduced costs
- Stronger ad monetization
- Future personalization and discoverability tools
Wurl's Global FAST Pass reaches over 173 million connected TVs monthly across more than 50 streamers worldwide, offering simplified monetization and data insights for content optimization and increased revenue.
Cineverse Corp. (NASDAQ: CNVS) reported its Q1 FY 2025 results, highlighting total revenue of $9.1 million and a direct operating margin of 51%. The company saw a 17% decrease in SG&A expenses and a 73% increase in total monthly viewership across its channel portfolio. Despite a revenue decline, Cineverse experienced significant growth in its podcast business, with revenues up 143% year-over-year. The company's digital content library was valued at $39.8 million, substantially higher than its book value of $2.6 million. Cineverse is focusing on new sales initiatives for its Matchpoint technology, AI-related products, and omni-advertising programs, with expectations of revenue growth in the coming quarters.
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), a streaming technology and entertainment company, has announced it will release its financial results for the first quarter fiscal year 2025 ended June 30, 2024, after market close on Wednesday, August 14, 2024. The company will host a conference call to discuss these results at 4:30 p.m. ET/1:30 p.m. PT on the same day.
Investors can participate in the live conference call using the provided dial-in numbers for the United States and Canada. Alternatively, the call can be accessed via webcast through the Investors section of Cineverse's website. A recording of the call will be made available shortly after its conclusion for those unable to attend live.
Cineverse (NASDAQ: CNVS) has acquired the North American rights to DEVON, the directorial debut of Jersey Shore alum Jenni "JWOWW" Farley. The found footage horror film will premiere exclusively on Cineverse's streaming service SCREAMBOX on November 11, 2024. DEVON follows a group of friends investigating an unsolved disappearance at an abandoned asylum, leading to a terrifying experience.
Farley, a longtime horror fan, expressed excitement about her new venture in the genre. The acquisition was negotiated by Brandon Hill, Executive Director of Acquisitions at Cineverse. SCREAMBOX, which offers a wide range of horror content, continues to expand its library with classic films, indie hits, and original series.
Cineverse Corp. (NASDAQ: CNVS) has announced the distribution of its video content on Spotify, marking a significant expansion in its content reach. The company is making programming from its FAST channels and curated titles from its extensive library of over 70,000 films and TV shows available on the global platform.
This move includes content from popular channels such as Crime Hunters, Dog Whisperer with Cesar Milan, Comedy Dynamics, EntrepreneurTV, and the Sid & Marty Krofft Channel. The initiative leverages Spotify's growing video podcast ecosystem, which now boasts over 250,000 video podcasts and 170 million users consuming video content.
Cineverse's expansion to Spotify was facilitated by its proprietary Matchpoint™ Dispatch platform, enabling quick content deployment. This strategic move positions Cineverse as a first-mover in this new distribution opportunity, capitalizing on Spotify's massive reach and value.
Cineverse has announced its inaugural 'Bark Week' from July 7 to July 14, 2024, for the Dog Whisperer With Cesar Millan free ad-supported streaming television (FAST) channel. This event coincides with the channel's launch on Pluto TV on July 8. The channel, featuring all nine seasons of the popular dog training series, is already available on Amazon FreeVee, Sling Freestream, and Xumo. Since its launch in January, the channel has experienced a growth of 289% in consumption and 75% in engagement. The series, which first aired on National Geographic Channel in 2004, has attracted over 10 million viewers per week during its peak and featured celebrity appearances. Cineverse holds the U.S. and Canadian distribution rights and manages ad sales using its Matchpoint™ Dispatch platform.
Cineverse (NASDAQ: CNVS) announced its financial results for the fiscal year ended March 31, 2024. The company reported total revenue of $49.1 million, down from $68.0 million the previous year. Despite this, the direct operating margin increased to 61% from 47%, and adjusted EBITDA rose to $4.4 million, a $4.3 million increase. SG&A expenses decreased by $8.9 million or 24%. The company recorded a $14 million non-cash, non-recurring impairment to Goodwill due to lower market capitalization. Cineverse began a share repurchase program, acquiring 184,000 shares by June 30, 2024. For Q4 FY 2024, revenue was $9.9 million, and adjusted EBITDA increased by $2.4 million to $1.6 million. The financial condition improved with cash and cash equivalents of $5.2 million and an expanded credit line of $7.5 million. The company also noted operational developments, including new partnerships, channel launches, and the upcoming release of 'Terrifier 3' on October 11, 2024.
Cineverse (NASDAQ: CNVS) and its horror division, Bloody Disgusting, have launched a new Horror Fan Shop featuring exclusive merchandise at over 1,700 Walmart locations. This curated collection includes collector's items such as Terrifier 2's Art the Clown double VHS with a Scratch 'n Sniff sticker, Michael Myers mini masks, and other horror-themed apparel and collectibles. The launch coincides with the upcoming release of Terrifier 3, set to hit theaters on October 11, 2024, and later stream on Bloody Disgusting's SCREAMBOX service. The collection aims to excite horror fans and genre enthusiasts.
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