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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 Corp (NASDAQ:CIDM) has launched RetroCrush, a digital channel focusing on classic anime, on the Philo streaming service. The deal represents Cinedigm's first with Philo and includes over 100 anime series and 40 feature films. The content is accessible on various platforms including mobile devices and smart TVs. This partnership aims to cater to growing consumer demand for anime content, as noted by Philo's Director of Content Acquisition. RetroCrush enhances Philo’s offerings, targeted at expanding viewership and engaging existing subscribers.
Cinedigm Corp. (NASDAQ: CIDM) has announced a new distribution deal with FuboTV Inc. (FUBO) to include five of its high-performing FAST channels in FuboTV's offerings. As of now, The Bob Ross Channel, Comedy Dynamics, and Dove Channel are available in FuboTV's base plan, while The Elvis Presley Channel and RetroCrush can be accessed through the Fubo Extra add-on and in Elite and Ultimate plans. This partnership enhances FuboTV's content portfolio, which now features over 50 FAST channels.
Cinedigm (NASDAQ:CIDM) has launched Midnight Pulp, a new ad-supported streaming television channel on Amazon Freevee. This channel specializes in horror, thriller, and action genres, enhancing content variety for viewers. Since its 2014 debut, Midnight Pulp has gained a substantial following through various platforms, making it a leading distributor of American horror and cult films. The service is accessible across connected TVs and media-streaming devices in the U.S., further expanding Cinedigm's reach in the streaming market.
Cinedigm Corp. (NASDAQ: CIDM) has acquired North American rights to the Belgian horror film Deep Fear, set to premiere at Fantastic Fest on September 22, 2022, and release on its horror streaming platform SCREAMBOX on October 11, 2022. Directed by Grégory Beghin, the film follows three students who celebrate their graduation by exploring the catacombs of Paris, only to uncover a Nazi bunker and face a deadly presence. This acquisition aligns with Cinedigm's strategy to enhance its content portfolio in the horror genre.
Cinedigm Corp (NASDAQ:CIDM) has launched The Joy of Painting series on Snapchat's Discover, providing free access to audiences with ads. This move targets Snapchat's 600 million monthly users, enhancing Cinedigm's reach. With 31 seasons and three Emmy Awards, the series, hosted by Bob Ross, remains a cultural icon. Cinedigm continues to innovate within the entertainment industry, utilizing advanced technologies and targeting specific platforms for content delivery.
Cinedigm reported a consolidated revenue of $13.6 million for Q1 FY2023, marking a 98% increase in total streaming revenue compared to the prior year. Notably, ad-supported streaming revenue surged by 131%, while subscription streaming revenue climbed 43% with subscribers increasing by 45%. The company anticipates significant total revenue growth and aims for sustainable profitability and positive cash flow in the fiscal year, targeting $150 million in annual revenues in the next 2-4 years. Despite a net loss of $6.1 million, the business shows strong growth momentum.
Cinedigm has acquired North American rights to the documentary Roy's World: Barry Gifford's Chicago, premiering October 18 on TVOD and Fandor. Celebrating Barry Gifford's 76th birthday, the film explores the life of the cult author and David Lynch collaborator. It features notable actors like Willem Dafoe and Matt Dillon and combines archive footage and animation. The acquisition aligns with Cinedigm's strategy to enhance its streaming library.
Cinedigm has acquired North American rights to the acclaimed film The Blind Man Who Did Not Want to See Titanic, directed by Teemu Nikki. The film, which has won awards at Venice and SXSW, will be released theatrically in the U.S. this fall and will premiere on Fandor. The story follows Jaakko, a blind man, on an adventurous journey to visit a long-distance love, showcasing intense experiences of visual impairment. With a 100% Rotten Tomatoes rating, it promises an engaging cinematic experience, highlighting significant performances and unique storytelling.
LOS ANGELES, CA / ACCESSWIRE / August 1, 2022 / Cinedigm has acquired all North American rights to the critically acclaimed Latin horror film History of the Occult from FilmSharks, set for a US & Canada release this December. The film achieved significant recognition, being the highest-rated horror movie of 2021 on Letterboxd and winning multiple awards at prestigious film festivals. This acquisition allows Cinedigm to feature the film exclusively on its SCREAMBOX platform, enhancing its horror content offerings and expanding market reach.
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