Cinedigm (NASDAQ:CIDM) has appointed Ashok Amritraj to its Board of Directors, effective immediately. Amritraj, a notable film producer with over 100 films to his credit, is expected to enhance Cinedigm's content strategy and international expansion, particularly in South Asia. His expertise in the entertainment industry and existing relationships in India are anticipated to significantly benefit Cinedigm's recent business initiatives, including the launch of Cinedigm India and the acquisition of streaming technology FoundationTV.
Cinedigm Corp. (NASDAQ:CIDM) has announced its participation in the Sidoti Microcap Conference scheduled for August 18-19, 2021. During this virtual event, management, including Chief Strategy Officer Erick Opeka, will hold one-to-one investor meetings. Opeka's presentation is set for August 18 at 1:00 PM ET, with access via webcast. Archived presentations will be available on the company's website. Interested investors can register on the Sidoti site.
Cinedigm (NASDAQ:CIDM) announced a partnership with El Rey Network and FactoryMade Ventures to transition El Rey from a linear cable channel to an ad-supported streaming service. This unique shift marks the first total pivot from cable to streaming for a channel. The platform will feature content curated by Robert Rodriguez, including films like Red 11 and the behind-the-scenes series Rebel Without A Crew. Cinedigm aims to leverage its extensive digital reach and advertising partnerships to enhance revenue and accessibility for diverse audiences.
Cinedigm Corp. (NASDAQ:CIDM) has regained compliance with Nasdaq Listing Rule 5250(c)(1) following its filing of the Annual Report on Form 10-K for the fiscal year ending March 31, 2021. This notification came after a prior non-compliance notice from Nasdaq on July 20, 2021. Cinedigm has been at the forefront of the digital transformation in the entertainment industry for over 20 years, offering premium content and streaming services worldwide.
Cinedigm (NASDAQ:CIDM) has launched three of its popular channels—Dove Channel, CONtv, and Docurama—on SLING TV. This move aims to enhance its reach among diverse audiences through live and on-demand television. SLING TV offers a variety of subscription options starting at $35 per month. Cinedigm continues to innovate in the streaming space by expanding its portfolio of channels that cater to various fan bases, positioning itself as a leader in streaming entertainment.
Cinedigm Corp. (NASDAQ:CIDM) reported impressive growth for the fourth quarter of fiscal 2021, with consolidated revenues of $8.3 million, representing a 197% year-over-year increase in streaming channel revenues. Streaming business accounted for 75% of total revenues, up from 48% the previous year. Ad-supported streaming revenue soared 331%, while subscription revenue rose 117%. Despite the growth, the company reported an EPS of ($0.04), an improvement from $(0.08) a year prior. The company also announced it has zero debt and a strong balance sheet.
Cinedigm (NASDAQ:CIDM) has announced a partnership with Real Madrid to enhance the team's streaming channel, Real Madrid TV, in North America. The deal allows for 2-3 matches weekly and over 8,000 hours of content annually, including exclusive interviews and classic matches. The channel will be accessible via various digital platforms in the U.S. and Canada, broadening Cinedigm's OTT distribution. This partnership aims to engage Real Madrid's extensive fanbase by providing unmatched access to content, aligning with Cinedigm's strategy to deliver niche entertainment.
Cinedigm (NASDAQ:CIDM) has partnered with Exeest to launch a new film submission platform for its streaming service, Fandor. This platform aims to facilitate independent filmmakers in submitting their work, thus enhancing content discovery and distribution. Fandor, known for its diverse library of over 4,600 titles, has experienced rapid subscriber growth since its acquisition by Cinedigm in 2021. This collaboration signifies Cinedigm's commitment to advancing technology for independent cinema, offering filmmakers access to a broader audience and monetization opportunities through Cinedigm's distribution channels.
Cinedigm (NASDAQ:CIDM) announced it received a notice from Nasdaq on July 20, 2021, indicating non-compliance with Listing Rule 5250(c)(1) due to a delayed Form 10-K filing for the fiscal year ending March 31, 2021. The company must submit a compliance plan within 60 days from the notice date. If accepted, it may have up to 180 days to regain compliance. Cinedigm plans to file the Form 10-K shortly, with no expected changes to previously reported preliminary results.
Cinedigm (NASDAQ:CIDM) has partnered with Rad.live to integrate NFT capabilities into its Matchpoint app, utilizing Rad's Ara platform. This collaboration allows Cinedigm to offer limited-edition NFTs of its Fandor Selects™ films alongside streaming services. The first NFT, from the film A Life at Stake (1955), will be limited to 100 units and feature exclusive content. This initiative aims to enhance Cinedigm's competitive advantage in the streaming market by providing diverse revenue models and embracing blockchain technology for digital content distribution.