Cineverse Hires Tim Russell, Promotes Terry City as Direct Advertising Sales Team Expands
Rhea-AI Summary
Cineverse (NASDAQ: CNVS) has strengthened its advertising sales leadership by hiring Tim Russell as Senior Vice President and promoting Terry City to Executive Vice President of Direct Advertising Sales. Russell, with 30 years of experience including roles at Sabio Holdings, Turner Broadcasting, and Comcast, will report to City.
The expansion comes after Cineverse's strongest direct ad revenue quarter, with total revenue reaching $40.7 million in Q3 FY2025, marking a 207% year-over-year increase. This growth is attributed to the company's Cineverse 360 ad platform, driving both direct and programmatic sales.
The company recently expanded its podcast sales team by hiring Laura Schumer and Ben Cabonargi as Directors of Podcast Sales for the Cineverse Podcast Network, which ranks among the top 10 podcast networks with over 35 audio series and 75 million downloads.
Positive
- Record Q3 FY2025 revenue of $40.7M, up 207% year-over-year
- Strong performance of Cineverse 360 ad platform driving direct and programmatic sales
- Top 10 ranked podcast network with 75M+ downloads
- Strategic expansion of sales leadership team with experienced executives
Negative
- None.
News Market Reaction
On the day this news was published, CNVS declined 2.77%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Russell Brings 30 Years of Experience from Sabio Holdings, Turner Broadcasting, Comcast and More
Russell brings 30 years of experience as a senior sales executive leading top-performing teams to his new role with Cineverse. Most recently, he served as Chief Revenue Officer at ad-tech company Sabio Holdings, where he spearheaded the successful pivot into CTV streaming sales from a mobile display sales model. Russell also led Sabio to record revenue while focusing on Fortune 500 brands and their respective agencies. Russell previously held executive roles at Turner Broadcasting, Comcast, Tribune and more.
City is an industry veteran with more than 20 years of experience building and leading sales and partnerships divisions. In addition to Cineverse, his experience includes executive roles at Variety, Yahoo Entertainment, The Huffington Post, BuzzFeed, Tumblr and most recently Tastemade. In addition, City is the co-founder of Steel Titan Entertainment, producers of the Emmy Award-winning ESPN: 30 for 30 film Playing for the Mob. City is also an advisor to many startups and entrepreneurs as well as a mentor to college students and young professionals in the industry.
"Coming off of our biggest direct sold ad revenue period to date in the third quarter fiscal year 2025, we are focused on growing our sales team and continuing to take advantage of major partnership opportunities," said City. "Tim brings essential experience from the tech and TV industry and will play a pivotal role in helping us build upon our ad sales success."
Since Cineverse introduced its Cineverse 360 ad platform, the company has seen strong revenue growth driven by direct and programmatic sales, including
The latest expansion of Cineverse's direct advertising sales team follows the hires of Laura Schumer and Ben Cabonargi as Directors of Podcast Sales earlier this month. Schumer and Cabonargi are responsible for spearheading the new podcast direct sales team for the Cineverse Podcast Network, a top-10 podcast network with more than 35 audio series and over 75 million downloads.
About Cineverse 360 Ad Solutions
Cineverse's advertising offerings unlock the world's most dedicated fandoms wherever they are, offering direct contextual advertising and a premium programmatic advertising network and ad-tech platform, c360. Cineverse's custom marketing integrations offer scalable opportunities to reach enthusiastic audiences across multiple touchpoints. These include audio opportunities via the Cineverse Podcast Network, display, social, experiential in-person events, and connected TV (CTV) advertising on the company's lineup of more than two dozen free, ad-supported streaming television (FAST) channels.
About Cineverse
Cineverse (Nasdaq: CNVS) is a next-generation entertainment studio that empowers creators and entertains fans with a wide breadth of content through the power of technology. It has developed a new blueprint for delivering entertainment experiences to passionate audiences and results for its partners with unprecedented efficiency, and distributes more than 71,000 premium films, series, and podcasts. Cineverse connects fans with bold, authentic, independent stories. Properties include the highest-grossing non-rated film in
CONTACTS
For Media, The Lippin Group for Cineverse
cineverse@lippingroup.com
For Investors, Julie Milstead
investorrelations@cineverse.com
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SOURCE Cineverse Corp.
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