Cinedigm (NASDAQ: CIDM) addressed shareholders during its Annual Stockholder Meeting held on October 23, 2020. CEO Chris McGurk highlighted the company's strategic advancements in the streaming market, rejecting the notion of a reverse stock split while emphasizing positive business momentum. Cinedigm's streaming portfolio expanded from 6 to 25 channels, and viewership surged 238% to over 15.2 million monthly viewers. The firm recorded the highest digital content sales in its history and improved its balance sheet by converting $15 million in debt to equity. Cinedigm is also pursuing acquisitions to enhance its market position.
Cinedigm (NASDAQ: CIDM) announces the release of BATTLE OF THE BULGE: WINTER WAR On Demand and Digital, ahead of Veterans Day on November 6. This film, following the success of BATTLE OF THE BULGE: WUNDERLAND, features veteran actors Tom Berenger and Billy Zane. Directed by Steven Luke, the film showcases a gripping WWII narrative with themes of bravery and sacrifice. Cinedigm highlights its leadership in the digital-first channel space, providing a wide array of content across major platforms.
Cinedigm (NASDAQ: CIDM) has launched The Bob Ross Channel on Pluto TV, featuring around 380 episodes from the iconic public television series. The channel offers free streaming entertainment aimed at families and includes special messages supporting public television and promoting Bob Ross products. This partnership allows advertisers to reach millions of Pluto TV's users through regular ad breaks. The initiative is part of Cinedigm's ongoing strategy to expand its content outreach across major streaming platforms, enhancing the legacy of Bob Ross among new audiences.
Cinedigm (NASDAQ: CIDM) announced its acquisition of The Film Detective, enhancing its content portfolio in classic film and television. This impactful move adds 3,000 titles and over 10,000 episodes to Cinedigm's offerings. The Film Detective, which operates two FAST networks, will maintain its independent operations under CEO Phil Hopkins. This acquisition aligns with Cinedigm's strategy to leverage its distribution capabilities, aiming for significant revenue and profit growth. Closing is subject to due diligence and other conditions.
Cinedigm (NASDAQ: CIDM) celebrates the successful release of its new horror film, THE CALL, which opened to impressive box office numbers last week. Starring horror icons Lin Shaye and Tobin Bell, the film has achieved the highest per-screen average for its opening week in North America. With a thrilling plot set in 1987, anticipation builds as THE CALL heads into its second weekend, expanding its reach across multiple screens. Cinedigm plans to distribute the film digitally and on Blu-ray in the near future.
Cinedigm (NASDAQ: CIDM) announced that Erick Opeka, President of Digital Networks, will join a panel at Streaming Media West Connect 2020. This week-long event runs from September 29 to October 2, offering insights from industry leaders on digital audio and video. Opeka's panel, titled Thriving As An Independent In A World Of OTT Acquisitions, takes place on October 1 from 10 am to 11 am PT. The discussion will focus on how independent channels can thrive amidst major acquisitions in the streaming sector. Registration is free and available online.
Cinedigm (NASDAQ: CIDM) has entered a digital content partnership with Kanopy, a free streaming platform available through universities and libraries. Starting October 1, Kanopy users can access 24 of Cinedigm's acclaimed films across various genres, including documentaries, comedies, and horror. The partnership aims to enhance accessibility to quality films and boost Kanopy's collection with titles like A Brave Heart: The Lizzie Velasquez Story and The Look of Silence. This collaboration reinforces Cinedigm's commitment to increasing the reach of its content.
Cinedigm Corp. (NASDAQ: CIDM) and FantomFilm announce the release of UNDER CONTROLL on Digital and DVD on October 6. This horror film, nominated for the FANtastic Award at the 2019 FANtastic Horror Film Festival, features a storyline about a medieval troll seeking revenge after being accidentally freed from centuries of imprisonment. The film, directed by Eric Hordes and starring Eva Habermann, is a nod to the cult classic Troll 2 and was filmed in Baden-Baden, Germany, before being dubbed in Austin, Texas.
Cinedigm (CIDM) and Glass House Distribution announce the release of CANADIAN STRAIN, a comedy exploring the impact of cannabis legalization, now available on Digital and DVD in the U.S.A. The film premiered at the Whistler Film Festival and received acclaim at the Oakville Festival of Films and Art. Directed by Geordie Sabbagh, it features a cast including Jess Salgueiro and Colin Mochrie. The narrative follows a cannabis dealer confronting new challenges in a legal market. Cinedigm emphasizes its role in digital entertainment transformation, delivering content globally.
Cinedigm (NASDAQ: CIDM) has announced the launch of the Bloody Disgusting streaming channel, set to premiere exclusively on The Roku Channel on September 29, 2023, in time for Halloween. This channel will be the first ad-supported horror network, featuring a mix of horror classics and original programming aimed at genre fans. With horror representing over 9% of film spending and $1.2B in global ticket sales in 2019, the channel aims to capture the growing market of horror enthusiasts. The company seeks to expand its reach in the ad-supported streaming market as traditional cable services decline.