Cineverse Partners With Wurl to Power FAST Channel Portfolio
Rhea-AI Summary
Cineverse Corp. (NASDAQ: CNVS) has announced a partnership with Wurl, to distribute and expand its free, ad-supported streaming television (FAST) channels. This collaboration will streamline channel launches through integration with Cineverse's Matchpoint platform and enhance monetization opportunities. Cineverse will migrate most of its existing FAST channels to Wurl's Global FAST Pass, including The Bob Ross Channel, Barney, and Real Madrid Channel. The partnership aims to benefit from:
- Easier channel launches
- Reduced costs
- Stronger ad monetization
- Future personalization and discoverability tools
Wurl's Global FAST Pass reaches over 173 million connected TVs monthly across more than 50 streamers worldwide, offering simplified monetization and data insights for content optimization and increased revenue.
Positive
- Partnership with Wurl to expand FAST channel distribution and launch new channels
- Integration with Matchpoint platform for streamlined channel launches
- Enhanced monetization opportunities
- Access to Wurl's Global FAST Pass network reaching 173M+ connected TVs monthly
- Potential for future personalization and discoverability tools
Negative
- None.
News Market Reaction
On the day this news was published, CNVS declined 0.25%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Partnership will Bring New Channels to Viewers, while also Enhancing Cineverse's Monetization and Discovery Capabilities
With this partnership, Cineverse will migrate the majority of their existing FAST channels to Wurl's Global FAST Pass. As part of this move, The Bob Ross Channel, Barney, 9 Story Presents: Garfield and Friends, SCREAMBOX TV, the Real Madrid Channel and others will be fully powered by Wurl. Moving forward, the company will also launch additional new channels via Wurl including several music channels as part of an expanded offering in the genre.
"We're very excited to be working with Wurl's highly-trained and experienced team to expand our FAST channel portfolio," said Cineverse Chief Operating Officer & Chief Technology Officer Tony Huidor. "With this new partnership, we're already benefiting from greater ease of use, significantly reduced costs with faster and more simplified channel launches. In addition, we look forward to being able to benefit from stronger ad monetization, future personalization and discoverability tools that will provide Cineverse with new avenues for growth."
Wurl's Global FAST Pass (GFP) is one of the world's largest FAST channel networks, encompassing 173M+ connected TVs monthly and more than 50 streamers worldwide. GFP simplifies monetization and provides powerful data insights to help guide content and scheduling optimizations for content companies to drive increased revenue.
"It's exciting to work with companies like Cineverse who are always looking to innovate and create better experiences for their viewers," said Wurl Vice President, Sales & Partnerships, Americas Dave Bernath. "We look forward to growing our partnership and supporting Cineverse with onboarding new channels and delivering greater personalization."
ABOUT CINEVERSE
Cineverse's advanced, proprietary technology drives the distribution of over 70,000 premium films, series, and podcasts to more than 150 million unique viewers monthly. From providing a complete streaming solution to some of the world's most recognizable brands, to super-serving their own network of fan channels, Cineverse (NASDAQ: CNVS) is powering the future of entertainment. For more information, please visit cineverse.com.
ABOUT WURL
Wurl is a leader in the CTV industry, helping connect viewers to the content they want to see with technologies for distribution, monetization, and advertising. The company supports publishers, streamers, and advertisers in growing viewership, maximizing revenue, and strengthening brand value. Wurl is owned by AppLovin Corporation (NASDAQ: APP). For more information, visit www.wurl.com.
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.
FAQ
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