Cinedigm has announced the upcoming release of HERE COMES RUSTY, a film featuring an all-star cast including Col. Bruce Hampton, Fred Willard, and Joey Lauren Adams. Directed by Tyler Russell, the film follows a struggling dog track owner who makes a high-stakes wager with a dishonest car salesman. This film, set to release this fall, is noted as one of the last projects for the late Willard and Hampton. Cinedigm, a leader in digital content distribution, expressed excitement over this partnership aimed at delivering fresh and humorous entertainment.
Cinedigm (NASDAQ: CIDM) announced that the film THE OUTPOST, starring Orlando Bloom and Scott Eastwood, will be available on Blu-ray™ and DVD starting August 18. The film, based on Jake Tapper's bestseller, depicts a gripping true story of a U.S. military unit's courageous fight against Taliban forces during the Battle of Kamdesh in 2009. The film gained popularity, debuting as the No. 1 movie on Apple for three consecutive weeks. Cinedigm's EVP, Yolanda Macias, expressed excitement about making this military thriller accessible for home viewing.
Cinedigm (NASDAQ: CIDM) announced the addition of four popular networks—Comedy Dynamics, CONtv, Docurama, and Dove Channel—to Redbox's new Free Live TV streaming platform. This partnership aims to provide viewers with diverse content, including stand-up comedy and family-friendly entertainment, enhancing user experience across multiple devices. Cinedigm's Senior Vice President, Tony Huidor, emphasized the collaboration's potential to redefine the viewing experience, leveraging Redbox’s extensive audience. The new service offers free access to a growing selection of live-streamed films and series.
Cinedigm (NASDAQ: CIDM) has partnered with Plex to stream eight of its free, ad-supported channels globally. This collaboration enables Cinedigm to reach a broader, media-focused audience not served by current streaming platforms. Plex, with over 20 million registered users, will distribute channels such as The Bob Ross Channel, Comedy Dynamics, and Docurama. The partnership aims to meet the increasing consumer demand for premium content amid declining cable subscriptions, thereby significantly expanding Cinedigm's international presence.
Cinedigm (NASDAQ: CIDM) has partnered with NBCUniversal to feature over a dozen movies from its library on the newly launched streaming service, Peacock. The collaboration will see the rollout of over 250 films and TV series episodes in the coming months. Yolanda Macias, Executive VP of Cinedigm, expressed enthusiasm for their role as a launch partner, highlighting the partnership's significance in content licensing and streaming channels. Additionally, Cinedigm's free streaming channels, including The Bob Ross Channel, were also included at launch.
Cinedigm (NASDAQ: CIDM) announced that three of its channels, The Bob Ross Channel, Comedy Dynamics, and So…Real, are featured in the launch of NBCUniversal's new streaming service, Peacock. This service offers thousands of hours of content, appealing especially to cord-cutters. The channels provide a mix of instructional programming, stand-up comedy, and curated reality content. Cinedigm's President, Erick Opeka, expressed enthusiasm for this partnership, highlighting their goal to expand high-quality ad-supported channels within the OTT market.
Cinedigm (NASDAQ: CIDM) has partnered with Quincy Newell and TwentyOne14 Media to launch a new urban multi-cultural entertainment network in Q1 2021. This network aims to serve the diverse U.S. demographic, with a focus on African American, Latinx, indigenous, and Asian American audiences. Cinedigm reaches over 670 million devices globally, leveraging its extensive distribution capabilities. The initiative is part of a broader trend highlighting the growing buying power and engagement levels of people of color, expected to exceed $3.9 trillion by 2019.
Cinedigm (NASDAQ: CIDM) reported its strongest Q1 performance in over five years for digital content sales, with a notable 34% year-over-year growth. The increase in viewership was attributed to the ongoing consumer shift towards streaming platforms, driven by the stay-at-home trend. The company highlighted success with next-day air releases and innovative promotional programs that boosted catalog sales. Notably, Cinedigm's partnerships in the educational sector led to remarkable growth, including 70% and 115% year-over-year increases with key partners. The outlook remains strong as streaming demand continues to rise.
Cinedigm (NASDAQ: CIDM) has launched its streaming channel, Bambu, on XUMO, providing free ad-supported content to over 45 million U.S. households. Bambu specializes in Chinese theatrical films and event television, enhancing Cinedigm's channel portfolio alongside existing offerings like CONtv and Docurama. According to General Manager Tony Huidor, this partnership aims to expand the audience reach and meet viewer and advertiser demands. Cinedigm continues to focus on growing its presence in the free ad-supported television market as traditional cable services decline.
Cinedigm Corp. (NASDAQ: CIDM) reported a fiscal year 2020 revenue of $39.3 million, down 27% from $53.5 million in FY 2019, mainly due to declines in its legacy Cinema Equipment business. However, streaming revenues surged by 31%, with ad-supported streaming channel revenues increasing by 59%, driven by a 466% growth in ad revenues. The company achieved profitability in Q4 2020 with an adjusted EBITDA of $0.7 million, a 125% increase year-over-year. Debt was reduced by $15.5 million, enhancing the balance sheet. Monthly ad-supported streaming viewers grew significantly, reaching 13.2 million by May 2020.