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Cineverse Corp. (Symbol: CNVS) is a leading global streaming technology and entertainment company with a robust portfolio of owned and operated streaming channels and content libraries. For over two decades, Cineverse has been at the forefront of the digital transformation in the entertainment industry, captivating hundreds of millions of viewers worldwide. The company’s offerings span premium content, streaming channels, and technology services, making it a trusted partner for some of the world’s largest media, technology, and retail firms.
Core Business and Recent Achievements:
Cineverse operates a vast array of streaming channels that cater to diverse audiences through subscription video on demand (SVOD), advertising-based video on demand (AVOD), and free ad-supported streaming television (FAST) channels. Notable channels include AsianCrush, The Bob Ross Channel, RetroCrush, Comedy Dynamics, Midnight Pulp, Crime Hunters, The Dove Channel, Fandor, and Screambox TV.
Recently, Cineverse has taken significant strides in expanding its content and reach. In June 2023, the company completed a public offering that raised approximately $8 million to support its growth strategies. This move aligns with Cineverse’s long-term objectives of enhancing its content library and pursuing high-ROI acquisition opportunities.
Moreover, the company's horror hit Terrifier 2 proved to be a remarkable success, earning over $15 million at the box office from a modest $250,000 budget. The film significantly amplified Cineverse’s profile as a formidable player in the entertainment domain.
Strategic Partnerships and Collaborations:
Cineverse continually fortifies its market position through strategic collaborations. The partnership with Amagi to leverage the Amagi CONNECT marketplace is set to enhance Cineverse's FAST offerings and broaden its international footprint. Similarly, Cineverse's extended relationship with VA Media aims to grow its channels’ presence on YouTube and other social media platforms, thereby reaching wider audiences.
Other noteworthy collaborations include a content deal with The Preview Channel™, enhancing Cineverse's AVOD and FAST channels. This partnership underscores Cineverse's commitment to delivering top-notch, dynamic content and expanding its viewer base.
Financial Condition and Growth Strategy:
With a strong financial foundation bolstered by recent funding rounds, Cineverse is well-positioned to capitalize on emerging opportunities in the streaming landscape. The company's focus on strategic acquisitions and partnerships has led to an expansive content library and a reputation for successfully monetizing channels and intellectual properties.
As Cineverse continues to navigate the competitive entertainment market, its commitment to innovation and high-quality content delivery remains unwavering. Investors and stakeholders can expect ongoing growth and value from this industry leader.
For more detailed and updated information, visit the Cineverse website.
Cinedigm (NASDAQ:CIDM) reported impressive first-quarter fiscal 2022 results, with total revenues reaching $15 million, up 149% year-over-year. Key growth sectors include streaming revenues, which surged 181%, driven primarily by ad-supported channels that skyrocketed 301% and subscription channels that rose 88%. The company achieved a net income of $5.2 million or $0.03 per share, a notable turnaround from the $19.9 million loss reported the prior year. Additionally, all remaining debt was paid down shortly after the quarter ended.
Cinedigm (NASDAQ:CIDM) has appointed George De La Cruz as the new Executive Vice President of Accounting, effective September 8, 2021. De La Cruz, who previously held various financial leadership roles, will oversee finance operations including accounting, reporting, and treasury. His appointment comes as Cinedigm experiences exponential growth in its streaming business, aiming to enhance operational efficiency and drive equity value. De La Cruz expressed enthusiasm about contributing to Cinedigm's leadership in the independent streaming sector.
Cinedigm announced that The Film Detective has acquired Holland Releasing's library of over 100 classic films and TV episodes. This acquisition enriches The Film Detective's catalog, which includes notable titles such as Meet John Doe and The Outlaw. The deal aims to enhance distribution through OTT platforms with restored versions and introduce the films to the collector's market via NFTs and Blu-rays. This strategic move supports Cinedigm's commitment to classic cinema preservation.
Cinedigm announces plans to expand its upcoming exclusive NFT releases following significant interest in its first Fandor Selects™ NFT, A Life at Stake. The NFT auction, which started on August 16 at 0.03 ETH ($94), saw bids surpassing $1,200, with potential collectors from over 24 countries participating. In partnership with Rad Collectibles, Cinedigm is set to increase NFT offerings from its extensive digital library of over 50,000 film and television titles. This initial success reflects a strong global viewership and engagement, encouraging further NFT development.
Cinedigm Corp. (NASDAQ:CIDM) will present at the H.C. Wainwright 23rd Annual Global Investment Virtual Conference from September 13-15, 2021. The presentation will feature Erick Opeka, Chief Strategy Officer and President of Cinedigm Networks, available on demand starting September 13 at 7:00 AM (ET). A link to the webcast is provided for investors. Additionally, Cinedigm will engage in virtual meetings with institutional investors during the event, encouraging registration for scheduling.
Cinedigm (NASDAQ:CIDM) received a notice from Nasdaq on August 27, 2021, indicating non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Quarterly Report on Form 10-Q for the quarter ending June 30, 2021. Cinedigm has 60 days to submit a compliance plan, and if approved, may have up to 180 days to meet the requirements. The notice does not lead to immediate delisting. The company aims to file the Form 10-Q soon to remedy this situation.
Cinedigm reported preliminary results for Q1 fiscal 2022, with total revenues of $15 million, marking a 149% increase year-over-year. Streaming revenues surged 181%, with ad-supported streaming up 301%. The company generated net income of $5 million or $0.03 per share, a turnaround from a loss of $19.9 million in the previous year. The total streaming minutes reached 1.37 billion, recording an 18% increase sequentially and 386% year-over-year. Cinedigm has paid off all remaining debt, strengthening its financial position.
Cinedigm Corp. (NASDAQ:CIDM), a leading independent streaming entertainment company, will announce its preliminary financial results for the first quarter of fiscal year 2022, ending June 30, 2021, after market close on September 2, 2021. The company will host a conference call at 4:30 PM ET to discuss the results and provide insights into its performance. Interested investors can access the live webcast via Cinedigm's website or by phone. The company has been at the forefront of digital transformation in entertainment for over 20 years, serving hundreds of millions globally.
Cinedigm is set to participate in the 2021 OTT X Fall Summit on September 1, 2021, at the Skirball Cultural Center in Los Angeles. Erick Opeka, Cinedigm's Chief Strategy Officer, will moderate a keynote fireside chat featuring Laura Martin from Needham & Company and Michael Pachter from Wedbush Securities. This event will gather leaders from OTT channels, digital retailers, and content providers, focusing on business exchanges and knowledge sharing in the entertainment content distribution sector.
Cinedigm (NASDAQ:CIDM) has launched four popular channels on The Roku Channel, enhancing its streaming portfolio. The new channels include Real Madrid TV, featuring 2-3 matches weekly, The Only Way Is Essex with its first 13 seasons, So…Real with diverse reality content, and El Rey Network, showcasing cult classics and original programming. This initiative positions Cinedigm to reach a broader audience, solidifying its commitment to providing premium entertainment.
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