Cineverse Corp Stock Price, News & Analysis

Cineverse announced that the new '9 Story Presents: Garfield and Friends' free ad-supported streaming television (FAST) channel is now available on Sling Freestream. This channel features all seven seasons of 'Garfield and Friends,' totaling 121 episodes, along with 12 specials and 2 direct-to-video titles. The launch coincides with the successful theatrical run of 'The Garfield Movie,' which has grossed over $230 million globally. Marc Rashba, Executive Vice President of Partnerships at Cineverse, highlighted the ideal timing to reintroduce Garfield to audiences, aiming to attract both nostalgic viewers and new fans. This channel is part of a broader deal with 9 Story Media Group to develop and distribute FAST channels, leveraging Cineverse's Matchpoint™ Dispatch platform for efficient deployment.

XL8, a deep-tech startup specializing in AI-powered machine translation, and Cineverse (NASDAQ: CNVS), a streaming technology and entertainment company, have announced a partnership to enhance Cineverse's Matchpoint content platform with XL8's AI-driven captioning and localization capabilities. This collaboration aims to streamline content captioning and localization, reduce costs, and offer culturally relevant translations to a global audience. XL8's MediaCAT APIs will integrate into Cineverse's Matchpoint OTT and streaming platform, automating workflows and enhancing the management and monetization of digital media. This partnership marks a significant step in the industry, enabling Cineverse to offer more diverse content efficiently.

Cineverse Corp. (NASDAQ: CNVS), a leading streaming technology and entertainment company, will announce its fourth quarter and full-year fiscal 2024 financial results on July 1, 2024, after market close. The fiscal year ended on March 31, 2024. A conference call to discuss these results is scheduled for 4:30 p.m. ET/1:30 p.m. PT the same day. Interested parties in the United States can join using the local number +1 404 975 4839 or toll-free at +1 833 470 1428. Canadian participants can dial toll-free at +1 833 950 0062, using the access code 274103. The call will also be webcast on Cineverse's investor relations website and a recording will be available shortly after the live event.

Titan Books has announced the release of a novelization of the slasher film 'Terrifier 2', in collaboration with Cineverse (NASDAQ: CNVS) and its horror division, Bloody Disgusting. Written by Tim Waggoner, the book will be available on October 29, 2024, coinciding with the cinema release of 'Terrifier 3'. The novel follows Art the Clown, resurrected by a sinister entity, as he continues his murderous spree in Miles County, targeting teenager Sienna and her brother Jonathan.

Tom Owen, VP of networks strategy for Cineverse, expressed excitement about the partnership with Titan Books and the expansion of Bloody Disgusting into publishing. The film 'Terrifier 2' is currently available for streaming on SCREAMBOX.

Cineverse (NASDAQ: CNVS) and its horror division, Bloody Disgusting, have announced that Jason Patric has joined the cast of Terrifier 3, directed by Damien Leone. Filming wrapped last week in New York, and the movie will be released nationwide on October 11, 2024, just in time for Halloween.

Returning cast members include Lauren LaVera, Samantha Scaffidi, Elliot Fullam, and AEW superstar Chris Jericho, with Daniel Roebuck debuting as Santa Claus. The film is produced by Dark Age Cinema Productions, with Phil Falcone and Lisa Falcone as executive producers.

Terrifier 2, produced on a micro-budget, grossed over $15 million globally and generated significant media buzz. Terrifier 3 has been named one of USA Today's Top 10 most anticipated horror films of 2024.

Cineverse (NASDAQ: CNVS) announced surpassing 10 million subscribers on its fandom-focused YouTube channels. Notable channels include AsianCrush with nearly 3.5 million subscribers, Free Movies from Cineverse with 1.3 million, K-Crush with 938K, RetroCrush with 901K, and more. New additions like Dog Whisperer with Cesar Millan have rapidly garnered over 10 million views and tens of thousands of subscribers within six months. These channels also promote Cineverse's subscription apps and ad-supported streaming services available on platforms like Amazon Freevee, DIRECTV, Sling Freestream, and Xumo. Cineverse's social media footprint exceeds 20 million across platforms such as Facebook and Instagram.

Cineverse (NASDAQ: CNVS), a streaming technology and entertainment company, has expanded its India-based Cineverse Services operation to cater to U.S. customers aiming to reduce overhead and streamline expenses. The team, approaching 40 members and planning to scale to 50 by fall, offers a range of services such as graphic design, content analytics, and customer support. This expansion creates a new revenue stream by providing these services to Matchpoint clients and other partners. The initiative has already led to substantial cost savings, contributing to a $2.7 million, or 30%, reduction in SG&A expenses in Q3 FY24. Chief People Officer Mark Torres emphasized the role of the Indian team in achieving these savings and paving the way for the new offering.

Cineverse (NASDAQ: CNVS) has announced the remastering of 'The Joy of Painting' in HD and 4K, along with the introduction of the Bob Ross Gallery Collection. This new content aims to enhance viewer experience through high-definition visuals and a unique ambient TV series highlighting Ross' iconic works. Currently, the first season is available in 1080p, with more to follow. The Bob Ross Channel, Cineverse's top FAST channel since its launch in April 2020, has generated over half a billion views and 840 million ad impressions. The new offerings are set to further engage fans and extend Bob Ross' legacy.

Cineverse Podcast Network achieved significant growth in April 2024, with 9.6 million unique listeners and 12.7 million downloads, ranking #8 in North America for listeners and #17 for downloads & streams. The success is attributed to hit entertainment, horror, and true crime shows, with new series and expanded ad sales team driving further growth.

Revenue surged by 49%, advertiser appeal increased, and expansion plans include video-first podcasts, new shows under RetroCrush and Midnight Pulp brands, and a strengthened ad sales team. The company aims to reach over 20 million monthly downloads and streams and become a top five podcast network within 18-24 months.