Cinedigm Corp. (CIDM) reported a remarkable 90% year-over-year revenue growth for the first half of FY2022, totaling $25.1 million. Streaming revenues saw impressive gains, with ad-supported channels rising 208% in Q2 and 247% year-to-date. The company achieved a net income of $4.8 million or $0.03 per share, a significant recovery from a net loss of $46.6 million in the previous year. Strong performance in subscriptions and advertising, alongside zero debt and a cash position of $12.6 million, bolster a promising outlook for sustained growth.
Cinedigm Corp. (CIDM) will report its second-quarter fiscal 2022 results on November 15, 2021, after market close. A management conference call will follow at 4:30 PM ET to discuss these results. Investors can access the live call via the company's website or by calling 1-844-200-6205 in North America. Cinedigm, a leader in the streaming entertainment space, has been at the forefront of digital transformation for over two decades, enhancing its platform with advanced technologies like artificial intelligence and machine learning.
Cinedigm has partnered with MEDIAGENIX to enhance its ad-supported FAST (Free, Ad-Supported Streaming Television) channels using the WHATS'ON platform. This partnership aims to optimize content programming across Cinedigm’s various channels like Dove Channel, CONtv, and Docurama. Cinedigm's Chief Technology & Product Officer highlighted that this collaboration will streamline their workflow and support the rapid growth of their FAST business. The WHATS'ON platform serves over 130 media companies globally, helping to unify content management and rights across various distribution channels.
Cinedigm (NASDAQ:CIDM) announced that its popular SVOD services, Fandor and Screambox, are now accessible to millions of Xfinity households via X1, Flex, and XClass TV. Fandor, featuring over 1,000 hours of indie films, introduces acclaimed titles like Distancing Socially and Our Father. Meanwhile, Screambox offers new horror originals such as The Island and Not Alone. This partnership with Comcast enhances Cinedigm's reach and aligns with its mission to deliver quality entertainment for niche audiences.
Cinedigm (NASDAQ:CIDM) has acquired over 1,500 hours of premium films and TV shows, enhancing its streaming portfolio and boosting recent digital sales. This includes 990 films, 31 new series, and 8 specials from various entertainment companies. The acquisitions will refresh content across popular channels like Screambox, Fandor, and The Dove Channel. Cinedigm aims to release at least 1 new exclusive film or series monthly, appealing to diverse enthusiast audiences.
Cinedigm (NASDAQ:CIDM) announced the launch of a series of horror-themed NFT trading cards called the Bloody Disgusting Blood Pack ahead of Halloween. Created by renowned artists, these unique 1 of 1 NFTs will be auctioned, with each winning bidder receiving a physical signed print. A limited edition NFT trading card will also be offered for free to 666 new and existing subscribers of Cinedigm's horror streaming service, Screambox. This initiative showcases Cinedigm's commitment to innovation in digital entertainment and strengthens its offerings in the streaming market.
View TV Group has signed a channel carriage deal with Cinedigm (NASDAQ:CIDM) for its Kapang CTV platform, enhancing its offerings in North America and the UK. The lineup includes channels like The Dove Channel, Real Madrid TV, and Comedy Dynamics, providing a mix of family, comedy, and sports content. This strategic partnership aims to deliver high-definition content through various platforms, including Apple, Android, Roku, and others. The channels are set to launch later this month, expanding Cinedigm's reach and viewer engagement.
Cinedigm (NASDAQ:CIDM) has re-launched its horror streaming service Screambox, featuring an improved user interface and expanded content accessibility. The service, now migrated to Cinedigm's Matchpoint Blueprint framework, allows faster catalog growth. With the acquisition of Bloody Disgusting, Screambox will benefit from curated content by genre experts. New subscribers will receive a collectible NFT trading card. This move aims to solidify Cinedigm's presence in the horror streaming sector, offering various subscription and ad-supported options.
Cinedigm (NASDAQ:CIDM) announced the launch of Bloody Disgusting Blood Packs, a unique series of horror-themed NFT trading cards featuring artwork from renowned horror artists. The first 13 cards will be auctioned for a limited time leading up to Halloween. Additionally, new subscribers to the rebranded Screambox service will receive a free NFT collectible card. This initiative aims to merge horror entertainment with emerging NFT technology, capitalizing on the rising interest in digital collectibles.
Cinedigm Corp. (NASDAQ:CIDM) reported positive developments at its Annual Stockholder Meeting on October 11, 2021. CEO Chris McGurk highlighted numerous initiatives, including the addition of six streaming channels to Dish Network's Sling TV and the relaunch of the independent cinema channel Fandor. The company enjoys a substantial distribution footprint and has recorded triple-digit streaming revenue growth over two consecutive quarters, alongside a net income of over $5 million. Cinedigm remains debt-free and anticipates continued growth through strategic acquisitions and partnerships.