Cinedigm announced that The Film Detective has acquired Holland Releasing's library of over 100 classic films and TV episodes. This acquisition enriches The Film Detective's catalog, which includes notable titles such as Meet John Doe and The Outlaw. The deal aims to enhance distribution through OTT platforms with restored versions and introduce the films to the collector's market via NFTs and Blu-rays. This strategic move supports Cinedigm's commitment to classic cinema preservation.
Cinedigm announces plans to expand its upcoming exclusive NFT releases following significant interest in its first Fandor Selects™ NFT, A Life at Stake. The NFT auction, which started on August 16 at 0.03 ETH ($94), saw bids surpassing $1,200, with potential collectors from over 24 countries participating. In partnership with Rad Collectibles, Cinedigm is set to increase NFT offerings from its extensive digital library of over 50,000 film and television titles. This initial success reflects a strong global viewership and engagement, encouraging further NFT development.
Cinedigm Corp. (NASDAQ:CIDM) will present at the H.C. Wainwright 23rd Annual Global Investment Virtual Conference from September 13-15, 2021. The presentation will feature Erick Opeka, Chief Strategy Officer and President of Cinedigm Networks, available on demand starting September 13 at 7:00 AM (ET). A link to the webcast is provided for investors. Additionally, Cinedigm will engage in virtual meetings with institutional investors during the event, encouraging registration for scheduling.
Cinedigm (NASDAQ:CIDM) received a notice from Nasdaq on August 27, 2021, indicating non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Quarterly Report on Form 10-Q for the quarter ending June 30, 2021. Cinedigm has 60 days to submit a compliance plan, and if approved, may have up to 180 days to meet the requirements. The notice does not lead to immediate delisting. The company aims to file the Form 10-Q soon to remedy this situation.
Cinedigm reported preliminary results for Q1 fiscal 2022, with total revenues of $15 million, marking a 149% increase year-over-year. Streaming revenues surged 181%, with ad-supported streaming up 301%. The company generated net income of $5 million or $0.03 per share, a turnaround from a loss of $19.9 million in the previous year. The total streaming minutes reached 1.37 billion, recording an 18% increase sequentially and 386% year-over-year. Cinedigm has paid off all remaining debt, strengthening its financial position.
Cinedigm Corp. (NASDAQ:CIDM), a leading independent streaming entertainment company, will announce its preliminary financial results for the first quarter of fiscal year 2022, ending June 30, 2021, after market close on September 2, 2021. The company will host a conference call at 4:30 PM ET to discuss the results and provide insights into its performance. Interested investors can access the live webcast via Cinedigm's website or by phone. The company has been at the forefront of digital transformation in entertainment for over 20 years, serving hundreds of millions globally.
Cinedigm is set to participate in the 2021 OTT X Fall Summit on September 1, 2021, at the Skirball Cultural Center in Los Angeles. Erick Opeka, Cinedigm's Chief Strategy Officer, will moderate a keynote fireside chat featuring Laura Martin from Needham & Company and Michael Pachter from Wedbush Securities. This event will gather leaders from OTT channels, digital retailers, and content providers, focusing on business exchanges and knowledge sharing in the entertainment content distribution sector.
Cinedigm (NASDAQ:CIDM) has launched four popular channels on The Roku Channel, enhancing its streaming portfolio. The new channels include Real Madrid TV, featuring 2-3 matches weekly, The Only Way Is Essex with its first 13 seasons, So…Real with diverse reality content, and El Rey Network, showcasing cult classics and original programming. This initiative positions Cinedigm to reach a broader audience, solidifying its commitment to providing premium entertainment.
Cinedigm (NASDAQ:CIDM) has announced a new partnership with All3Media International to launch a dedicated streaming channel for the popular British reality series The Only Way Is Essex (TOWIE). The channel will feature 13 seasons of the show, providing fans with 24/7 content access. This initiative expands Cinedigm's existing relationship with All3Media, which previously launched a different channel in 2020. The new channel will be available in the US and Canada across multiple platforms, aiming to reach a broader audience.
Cinedigm (NASDAQ:CIDM) anticipates strong streaming revenue growth and positive net income for Q1 FY2022, ending June 30, 2021. Streaming revenue rose 197% YoY, powered by ad-supported and subscription revenues that surged 331% and 117%, respectively, comprising 75% of total revenue. The company's streaming minutes soared to 1.16 billion, a 285% increase. Cinedigm has eliminated its debt, enhancing its balance sheet. The company plans to expand its streaming channels and has recently formed key partnerships, including with Amazon and Samsung, to drive growth and innovation.