DMR has expanded its relationship with The Roku Channel by launching AsianCrush, a new linear channel dedicated to pan-Asian entertainment, in the U.S. This channel offers a variety of Asian content, including Korean dramas and cult classics. AsianCrush is available as a free ad-supported streaming channel and as a video-on-demand option. DMR, a subsidiary of Cinedigm, aims to enhance viewer access to diverse entertainment and continues to grow its OTT channels, previously launching several in Canada.
Cinedigm (NASDAQ:CIDM) reports significant growth for its family-friendly streaming service, The Dove Channel. Total channel subscribers exceeded 663,000, marking an impressive 1,133% year-over-year increase. Monthly ad-supported viewers also surged to over 5.4 million, a 47% rise from the previous year. This growth stems from strong demand on major distribution platforms like Amazon Prime and Roku. In response, Cinedigm plans to invest in exclusive content and expand its advertising initiatives, further solidifying Dove Channel’s position in the market.
Cinedigm (NASDAQ:CIDM) recently announced its acquisition of Digital Media Rights (DMR), poised to add over $28 million in annual revenues. Following four record quarters of streaming growth, the company aims to achieve $150 million in revenues within two to four years. With zero debt and a strong balance sheet, Cinedigm's new initiatives include Cineverse, Cinedigm Ad Solutions, Cinedigm Podcast Network, and Matchpoint Blueprint 2.0, focusing on enhancing content offerings, advertising revenues, and innovative technology capabilities.
Cinedigm Corp. announced the successful acquisition of Digital Media Rights (DMR) for $16.4 million, enhancing its streaming business. Closed on March 28, 2022, the deal adds 10 channels and 7,500 titles to Cinedigm's portfolio. The acquisition is expected to yield $10 million in incremental revenue and $3 million in Adjusted EBITDA over the next year. With this expansion, Cinedigm now offers over 30 streaming channels and 46,000 titles, targeting a monthly audience of 40 million. The company plans to leverage DMR's content and expertise to boost its streaming services.
Cinedigm has formed a strategic partnership with Roundtable Entertainment, taking a minority stake in the company. The collaboration begins with a $15 million investment in a 10-picture thriller slate, starting with All My Friends Are Dead, directed by Kevin Greutert. The partnership aims to co-finance and co-own original films distributed on Cinedigm's OTT networks and third-party platforms. Additionally, Cinedigm's Chief Strategy Officer, Erick Opeka, will join Roundtable's Board of Directors, enhancing collaboration and IP development.
Cinedigm announced the inaugural Fandor New Voices Award was presented to director Iliana Sosa for her documentary What We Leave Behind at the SXSW Film Awards on March 15, 2022. The award aims to elevate independent filmmakers, especially women and people of color. As part of the award, Sosa receives a $7,500 cash prize and the opportunity to feature her film on Fandor's streaming service. The documentary explores Sosa's grandfather's life, capturing family dynamics and memories through a poignant narrative.
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Cinedigm (NASDAQ:CIDM) announced record growth for its Bloody Disgusting podcast network in 2021, with over 40 million downloads, reflecting a 50% increase from 2020. The company is on track to achieve over $1 million in podcast revenue by the end of 2022. Key podcasts include Creepy and SCP, both consistently ranking in the top 50 on Apple and Spotify. Notably, Insidious Inspirations has quickly become a top true-crime podcast. Major brands like Babbel and Audible are current sponsors, enhancing the network's revenue potential.
Cinedigm (NASDAQ:CIDM) announced the inaugural Fandor New Voices Award to honor under-represented independent filmmakers at the South by Southwest® Film Festival from March 11-20, 2022. The award aims to elevate a female or person of color making their directorial debut, selected by a jury panel. The winner will receive a $7,500 cash prize, film distribution on Fandor's streaming service, and features on the Fandor Festival Podcast. This initiative reflects Fandor’s commitment to diversity in cinema, marking a significant addition to the festival.
Cinedigm (NASDAQ:CIDM) and Exeest have launched Matchpoint Debut, a new platform designed for independent filmmakers to distribute their content across over 80 streaming partners globally. This initiative aims to enhance access for filmmakers, enabling them to monetize their films in a competitive market that has become increasingly dominated by major studios. The platform automates the entire distribution process, including content submission and engagement analytics, thereby simplifying the experience for content creators.