Cinedigm (NASDAQ:CIDM) has extended its nearly decade-long agreement with Hallmark Channel to manage their content distribution on TVOD and physical markets. This partnership has led to growth in the transactional business, outperforming industry trends, thanks to Hallmark's quality films and series. For the first time, they will offer digital rentals on select titles. The collaboration emphasizes both companies' commitment to delivering engaging content to a passionate audience through various digital platforms and retail strategies.
Cinedigm (NASDAQ:CIDM) has partnered with Papercup to localize The Bob Ross Channel for broader international audiences. The project aims to dub The Joy of Painting series into Latin American Spanish and other languages using advanced AI technology, allowing for efficient and high-quality dubbing. This initiative is part of Cinedigm's strategy to expand its distribution in the growing Spanish-language market. The entire catalog will be available for streaming, enhancing the reach of Bob Ross's beloved content.
Cinedigm (NASDAQ:CIDM) has partnered with Emmy-nominated director Laurieann Gibson to launch the BOP (Born Out of Passion) Network, a global streaming service dedicated to dance. This pioneering platform will feature a variety of dance-related content, including licensed films, documentaries, original programming, and fitness workouts, highlighting numerous dance styles. BOP will be accessible worldwide on various devices and OTT platforms. The collaboration aims to create a community for dance enthusiasts, merging technology and content to engage audiences of all ages.
Cinedigm Corp. (NASDAQ:CIDM) will present virtually at the 14th annual Main Event on October 13, 2021, at 9:00 AM ET. Erick Opeka, Chief Strategy Officer, will discuss the company's digital transformation and corporate strategy. The event, hosted on the Sequire Virtual Events platform from October 12-14, will feature around 150 companies presenting for 25 minutes each. An archive of the presentation will be available on the company’s website after the event. For more details and to register, visit the provided links.
Cinedigm (NASDAQ:CIDM) has announced a major revamp of its streaming service Fandor, which focuses solely on independent films. This update will introduce a new platform design, enhanced user experience, and a vast collection of over a thousand hours of curated indie content, including exclusives from international film festivals. The service will also feature Fandor Festival Podcast, and a digital publication named Keyframe, enriching the indie cinema community. Launching with a subscription model at $4.99/month, Fandor aims to solidify its position in the $4.8 billion global indie film market.
Cinedigm (NASDAQ:CIDM) announced the launch of six new streaming channels on SLING TV, enhancing its portfolio with content tailored for diverse audiences. The newly added channels include Bloody Disgusting TV for horror fans, The Bob Ross Channel, Comedy Dynamics for comedy lovers, MyTime Movie Network celebrating female-led content, Real Madrid TV for sports enthusiasts, and So...Real focusing on reality TV. This expansion follows the introduction of three other channels on SLING, underlining Cinedigm’s strategy to cater to specific fan bases and expand its reach in the streaming market.
Cinedigm (NASDAQ:CIDM) announced the acquisition of Bloody Disgusting, a leading horror entertainment platform, as part of its strategy to dominate the horror streaming market. This follows Cinedigm's earlier purchase of Screambox, enhancing a combined offering that features SVOD, AVOD, and FAST options. With over 30 million unique horror fans reached annually, the acquisition is expected to accelerate Cinedigm's growth in the genre. Cinedigm's streaming channels will refresh content monthly, ensuring a rich library for horror enthusiasts and further solidifying its position in the market.
Cinedigm Corp. (NASDAQ: CIDM) announced the appointment of John Canning as Chief Financial Officer, effective September 13, 2021. Canning brings extensive financial experience, having previously served as CFO for Firefly Systems and interim CFO at Tapjoy Inc. His role is critical for supporting Cinedigm's rapid growth in the streaming market. Canning was granted stock appreciation rights for 600,000 shares and performance stock units for 150,000 shares as part of his inducement compensation package, aimed at enhancing the company’s financial strategies.
Cinedigm (NASDAQ:CIDM) reported impressive first-quarter fiscal 2022 results, with total revenues reaching $15 million, up 149% year-over-year. Key growth sectors include streaming revenues, which surged 181%, driven primarily by ad-supported channels that skyrocketed 301% and subscription channels that rose 88%. The company achieved a net income of $5.2 million or $0.03 per share, a notable turnaround from the $19.9 million loss reported the prior year. Additionally, all remaining debt was paid down shortly after the quarter ended.
Cinedigm (NASDAQ:CIDM) has appointed George De La Cruz as the new Executive Vice President of Accounting, effective September 8, 2021. De La Cruz, who previously held various financial leadership roles, will oversee finance operations including accounting, reporting, and treasury. His appointment comes as Cinedigm experiences exponential growth in its streaming business, aiming to enhance operational efficiency and drive equity value. De La Cruz expressed enthusiasm about contributing to Cinedigm's leadership in the independent streaming sector.