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) 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.
Cineverse announced that the new '9 Story Presents: Garfield and Friends' free ad-supported streaming television (FAST) channel is now available on Sling Freestream. This channel features all seven seasons of 'Garfield and Friends,' totaling 121 episodes, along with 12 specials and 2 direct-to-video titles. The launch coincides with the successful theatrical run of 'The Garfield Movie,' which has grossed over $230 million globally. Marc Rashba, Executive Vice President of Partnerships at Cineverse, highlighted the ideal timing to reintroduce Garfield to audiences, aiming to attract both nostalgic viewers and new fans. This channel is part of a broader deal with 9 Story Media Group to develop and distribute FAST channels, leveraging Cineverse's Matchpoint™ Dispatch platform for efficient deployment.
XL8, a deep-tech startup specializing in AI-powered machine translation, and Cineverse (NASDAQ: CNVS), a streaming technology and entertainment company, have announced a partnership to enhance Cineverse's Matchpoint content platform with XL8's AI-driven captioning and localization capabilities. This collaboration aims to streamline content captioning and localization, reduce costs, and offer culturally relevant translations to a global audience. XL8's MediaCAT APIs will integrate into Cineverse's Matchpoint OTT and streaming platform, automating workflows and enhancing the management and monetization of digital media. This partnership marks a significant step in the industry, enabling Cineverse to offer more diverse content efficiently.
Cineverse Corp. (NASDAQ: CNVS), a leading streaming technology and entertainment company, will announce its fourth quarter and full-year fiscal 2024 financial results on July 1, 2024, after market close. The fiscal year ended on March 31, 2024. A conference call to discuss these results is scheduled for 4:30 p.m. ET/1:30 p.m. PT the same day. Interested parties in the United States can join using the local number +1 404 975 4839 or toll-free at +1 833 470 1428. Canadian participants can dial toll-free at +1 833 950 0062, using the access code 274103. The call will also be webcast on Cineverse's investor relations website and a recording will be available shortly after the live event.
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