Welcome to our dedicated page for cidm news (Ticker: cidm), a resource for investors and traders seeking the latest updates and insights on cidm stock.
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 Corp. (NASDAQ:CIDM) announced its participation in the Ladenburg Thalmann Virtual Technology Expo on December 7th, 2022 at 2 PM ET. The presentation will be led by Erick Opeka, Chief Strategy Officer & President, Cinedigm Networks. The Expo will feature around 50 Technology and Media companies and focuses on various sectors like ad-tech, cybersecurity, and e-commerce. Additionally, attendees can request one-on-one meetings with Cinedigm. For more details, visit here.
Cinedigm Corp. (NASDAQ:CIDM) has launched the RetroCrush anime channel on Samsung TV Plus, marking a strategic expansion of its linear channel offerings. RetroCrush features over 190 series and 60 films from the golden age of anime, focusing on classics from the '70s to the '90s. The channel is accessible for free to Samsung TV Plus users, enhancing Cinedigm's presence in the anime genre, which continues to grow in popularity. This launch follows previous successes with channels like The Bob Ross Channel, demonstrating Cinedigm's commitment to providing diverse content to streaming audiences.
Cinedigm reported record subscriber growth for its horror streaming service SCREAMBOX following the launch of Terrifier 2, which saw subscribers increase by 144% in two weeks. The film has also achieved over $11M at the global box office and ranked among the top 10 digital transactional releases. This success highlights Cinedigm's profitable streaming strategy that leverages multiple monetization paths. Upcoming films like Life With Chucky are set to enhance content offerings, furthering subscriber growth.
Cinedigm reported strong Q2 2023 results with consolidated revenue of $14 million, up 39% year-over-year. Total streaming revenue surged 78%, powered by a 102% jump in ad-supported revenue. The company also welcomed 1.06 million paid subscribers, an increase of 48%. Key highlights include the success of the horror film Terrifier 2 and the launch of Cineverse, its new streaming service. Despite these gains, net loss reached $5.8 million, with challenges including decreased legacy sales and rising operational costs.
Cinedigm Corp. (NASDAQ:CIDM) has expanded its distribution agreement with Samsung, enabling the launch of its flagship streaming service, Cineverse, on Samsung Smart TVs. This partnership aims to enhance audience reach by allowing Samsung Smart TV users to access Cineverse's extensive library of over 10,000 video-on-demand titles and free ad-supported streaming channels at no extra cost. The agreement aligns with Cineverse's goal to provide a comprehensive entertainment experience, with a focus on diverse content genres and innovative technology for user engagement.
Cinedigm Corp. (CIDM) has acquired worldwide rights (excluding Italy) for three documentaries by Annalaura di Luggo: We Are Art: Through the Eyes of Annalaura, Blind Vision, and Napoli Eden. The acquisition occurred during the AFM and aims for streaming in early 2023. We Are Art is an Academy Awards contender for Documentary Feature and original song. This move aligns with Cinedigm's strategy of enhancing premium content offerings, and the company remains focused on social inclusion and environmental themes in media.
Cinedigm Corp. (CIDM) announced a partnership with ROW8 to integrate their transactional video-on-demand service into Cinedigm's Cineverse. This collaboration allows viewers to rent newly released theatrical films prior to their availability on subscription platforms. With agreements in place with major studios like Disney and Warner Bros., Cinedigm aims to enhance its content offering and TVOD distribution capabilities. The new features, including a dedicated section for ROW8's content, will soon be available on the Cineverse platform.
Cinedigm Corp (NASDAQ:CIDM) will release its financial results for the second quarter of fiscal year 2023 after market close on November 14, 2022. The results will cover the period ending September 30, 2022. Following the results announcement, Cinedigm's management will host a conference call to discuss the earnings on November 15 at 12:00 PM ET / 9:00 AM PT. Investors can access the live call via the Company's website or by phone. A replay will be available shortly after the call concludes.
Cinedigm reports a surge in consumer demand for its latest release, Terrifier 2, which saw an 8% week-over-week box office increase, totaling $7.7 million in North America after four weeks. The film's screen count nearly doubled to over 1,500 for Halloween weekend, driven by positive word of mouth. It earned an 87% critics score on Rotten Tomatoes and spurred a 250% traffic increase for the Screambox streaming service. The Collector's Edition Blu-ray pre-sale ranked as the #1 horror film on Amazon.
Terrifier 2 by Cinedigm has achieved a remarkable 82% increase in box office revenue in its third week, totaling over $5.5 million. The film will expand to over 1,500 screens for Halloween weekend due to strong demand. Its per-screen revenue surged by 58%, ranking fourth among wide releases. With a 90% Critics score and an 85% Audience score on Rotten Tomatoes, the film is currently the third most-searched film globally. This unprecedented success reflects a grassroots, fan-driven campaign.
FAQ
What is the market cap of cidm (cidm)?
What does Cineverse Corp. do?
What are some of Cineverse’s notable streaming channels?
How has Cineverse recently expanded its offerings?
What are Cineverse’s recent financial achievements?
What was the success of the film Terrifier 2?
How is Cineverse leveraging its relationship with Amagi?
What is the significance of Cineverse's partnership with VA Media?
What types of content does Cineverse provide?
What is Cineverse's growth strategy?
Where can I find more information about Cineverse?
