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Cinedigm (NASDAQ:CIDM) announced a remarkable 39% year-over-year subscriber growth for its streaming service, Fandor, since its acquisition in January 2021. The growth stems from an expanding library of independent films and documentaries. Additionally, nearly 100 new titles have been added, with plans to include hundreds more, including from the newly acquired Films Around the World library. Future initiatives include launching The Fandor Channel and an NFT-based film label, Fandor Selects™, aiming to enhance the independent cinema experience.
Cinedigm (NASDAQ:CIDM) announced the launch of four new streaming channels on Local Now: The Film Detective, Lonestar, Bloody Disgusting TV, and Whistle TV. This expansion aims to cater to niche audiences with genres like Horror, Westerns, Sports, and Classic Cinema. The Film Detective offers a vast library of nearly 13,000 episodes, while Bloody Disgusting TV boasts 450 Horror films and 160+ hours of original content. The partnership with Local Now enhances its offerings across 225 markets in the U.S., providing diverse content to a growing streaming audience.
Cinedigm (NASDAQ:CIDM) has reported a remarkable 47% increase in revenues following the deployment of Amagi THUNDERSTORM 2.0 for ad monetization. Since its launch in April, the company has also experienced a 21% rise in impressions and a 100% surge in render rates. Cinedigm anticipates generating seven figures in new revenue from Amagi's ADS PLUS service in the current fiscal year, supported by comprehensive analytics capabilities. This partnership underscores Cinedigm's commitment to enhancing video streaming and ad revenues in an evolving entertainment landscape.
Cinedigm Corp. (NASDAQ:CIDM) has achieved a remarkable 89% reduction in debt, lowering its total outstanding debt from $49.9 million to $5.7 million since March 31, 2020. The company executed this by converting $15 million in convertible notes to equity and repaying various loans. The current debt includes a $2.1 million PPP loan and $3.5 million in non-recourse debt from its Digital Cinema business. Cinedigm plans to utilize proceeds from a recent $10.8 million sale of digital cinema projection systems to further reduce its debt, setting the stage for future growth in streaming assets.
Cinedigm (NASDAQ:CIDM) has launched Fandor Selects, an NFT-based film label that will release limited editions of significant films. This initiative stems from their acquisition of Fandor, an indie film streaming service. Launching in summer 2021, Fandor Selects will offer high-definition restorations and NFT bundles of classic films, including The Capture (1950) and A Life at Stake (1955). The collections will be available on major NFT marketplaces. Cinedigm aims to integrate more NFT capabilities into their platform, continuing their innovative approach in the entertainment industry.
Cinedigm is launching its classic film channels, The Film Detective and The Lone Star Channel, on Rakuten TV across 36 European countries. This partnership aims to expand the global reach of their vintage film library. Rakuten TV, which offers a mix of TVOD, AVOD, and SVOD services, reaches over 12 million unique viewers monthly. The Film Detective will feature classic films and series, while The Lone Star Channel will showcase classic Westerns, including John Wayne films.
Cinedigm (NASDAQ: CIDM) announced a 30% year-over-year sales growth in its latest press release, marking the fourth consecutive record-setting quarter. The company's transactional revenue surged by approximately 39%, outpacing the industry average of 34.3%. Key successes included strong performances from new releases like The Call and Battle of the Bulge: Winter War. Additionally, AVOD minutes streamed increased by 89%, significantly surpassing the industry's growth of 57% year-over-year, driven by wide adoption of streaming platforms.
Cinedigm (NASDAQ:CIDM) has launched the Fantawild streaming channel in partnership with Fantawild Animation, a leading Asian children's animation producer. The channel features the popular Boonie Bears franchise, which generates over $435 million annually in merchandise sales and has grossed more than $500 million in film revenues. With plans to refresh content monthly, Cinedigm aims to expand its audience by offering family-friendly programming on platforms like TCL and Klowd TV, enhancing its presence in the North American OTT market.
Cinedigm and Genius Brands International have entered a digital content partnership to enhance the Kartoon Channel!, focusing on family-friendly streaming content. This deal includes a variety of films and series, such as Cinderella and Yu-Gi-Oh! Duel Monsters. Cinedigm aims to expand its presence in the ad-supported streaming market as traditional cable viewership declines. The content will be available across multiple platforms, reinforcing both companies' commitment to providing quality entertainment to families.
Cinedigm (NASDAQ:CIDM) reported remarkable growth in its streaming services for March 2021, achieving a 208% year-over-year increase in total streaming viewers, reaching 23.8 million. The company's total subscribers exceeded 640,000, a staggering 574% growth. Streaming minutes hit a record 423 million, with advertising requests soaring by 431%. Cinedigm is actively integrating five recent acquisitions while launching various new streaming initiatives, including partnerships in children's content and NFT products, reflecting its commitment to expanding its digital footprint.