Cinedigm reported record financial results for the three and nine months ended December 31, 2021, with consolidated revenues of $14.1 million, up 42% year-over-year. Streaming revenues surged by 104%, driven by robust ad-supported and subscription growth. Net income for the year-to-date reached $4.3 million, or $0.03 per share, a significant turnaround from a $56.3 million loss in the previous year. Strong performance in user engagement and a growing content library, now at 40,000 assets, further support Cinedigm's strategic positioning in a competitive market.
Cinedigm Corp (NASDAQ:CIDM) announces the release of its financial results for the third quarter of fiscal year 2022, ending December 31, 2021. The results will be made public following market close on February 14, 2022. A subsequent conference call is scheduled for February 15, 2022, at 12:00 PM ET to discuss these results. Investors can access the live webcast on the company’s website or by phone with specific dialing instructions. Cinedigm continues to be a leader in the digital transformation of the entertainment industry, utilizing innovative technologies like AI.
Cinedigm (NASDAQ:CIDM) announced the release of multiple 'Fandor Exclusives' on its streaming platform, targeting cinephiles. Six exclusive titles will premiere in February, including Break, winner at the 2020 Vegas Movie Awards, and Way of the Cross, a mystery featuring an FBI agent. Additional offerings like the documentary Maizidian and over 30 titles from the American Genre Film Archive will boost Fandor's library. Cinedigm aims to elevate independent cinema through strategic initiatives, including partnerships and community engagement.
Cinedigm (NASDAQ:CIDM) has launched Realmadrid TV on Pluto TV, enhancing its streaming offerings for soccer fans. This partnership aims to expand Realmadrid TV's reach by leveraging Pluto TV's platform, which attracts millions of sports enthusiasts. The channel will feature 2-3 live matches weekly, exclusive interviews, training sessions, and over 8,000 hours of annual content. This strategic move taps into Real Madrid's extensive fanbase, allowing fans in the U.S. to access club-related programming and news on a popular ad-supported service.
Cinedigm (NASDAQ:CIDM) has partnered with Nreal to launch three popular streaming channels—Bloody Disgusting TV, Realmadrid TV, and CONtv—in augmented reality (AR). Viewers can now enjoy immersive content via Nreal's AR glasses, projecting a virtual 220-inch HD screen. The global AR market is projected to reach $77 billion by 2025. This move positions Cinedigm at the forefront of technological innovation in streaming, leveraging its Matchpoint 2.0 technology to enhance user experience and expand its content ecosystem.
Cinedigm (NASDAQ: CIDM) has launched its comedy streaming channel, Comedy Dynamics, on Samsung TV Plus in the UK. This free service offers over 100 live and on-demand channels, featuring a range of comedic content including stand-up specials and documentaries from renowned comedians such as Jim Gaffigan and Tiffany Haddish. This partnership aims to provide free access to quality entertainment, enhancing Cinedigm's reach in the FAST channel market.
Cinedigm (NASDAQ:CIDM) announced significant content deals that will expand the reach of its films. The company partnered with The Africa Channel to air four films, including Miracle on Highway 34 and Resolution Song, targeting audiences in the US and Canada. Additionally, Salt + Light Media acquired the non-exclusive rights for Full of Grace, a biblical retelling, enhancing the diversity of its programming in Canada. These collaborations aim to connect Cinedigm's content with new audiences, demonstrating the company's commitment to delivering culturally relevant stories.
Cinedigm (NASDAQ:CIDM) has launched the El Rey Network on XUMO, enhancing its Hispanic programming lineup. The channel, co-founded by filmmaker Robert Rodriguez, transforms viewer access to culturally diverse content. Featuring popular titles like 'Rebel Without A Crew' and 'Lucha Underground', El Rey aims to resonate with a broad audience. With a focus on representation, this initiative is expected to drive substantial advertising revenue in the growing AVOD & FAST market, according to Cinedigm's VP of Business Development.
Cinedigm (NASDAQ: CIDM) has announced its acquisition of Digital Media Rights (DMR), expanding its streaming services portfolio to over 30 platforms and 46,000 hours of content. DMR's expertise in audience development and advertising brings significant value, with the ad network generating over 100 million impressions monthly. Post-acquisition, Cinedigm will have 40 million monthly viewers and 18.5 million social subscribers. The move highlights growing demand for Asian content, enhancing Cinedigm's strategic positioning in the streaming market.
Cinedigm (NASDAQ:CIDM) has launched nine popular streaming channels on LG Smart TVs, enhancing access to premium content for viewers. Notable channels include The Bob Ross Channel, Dove Channel, and Real Madrid TV, providing a rich mix of entertainment options. This move expands Cinedigm's presence on major TV platforms, aligning with consumer trends towards connected viewing. According to Jennifer Soltesz, this partnership with LG arrives just in time for the holiday season, aiming to capitalize on increased TV purchases.