Historical Stock Chart
2 Months : From Sep 2019 to Nov 2019
Cinedigm (NASDAQ: CIDM) today announced several key ad-supported growth milestones for its fast-growing group of ad-based digital networks.
In September 2019, Cinedigm’s footprint reached an estimated 4.5 million monthly active ad-supported viewers across Cinedigm’s digital networks distributed via linear Free Ad-supported TV (FAST) and Advertising Video on Demand (AVOD), up 77% since the beginning of the fiscal year on April 1st, 2019.
Key Milestones and Facts*:
- Achieved over 398%** YoY growth of ad-supported viewer base across FAST and ad-supported video on demand platforms.
- FAST linear channel delivery reached approx. 2.7 million monthly active viewers across five live networks across partner base including Xumo, Pluto TV, Stirr, Samsung, The Roku Channel, and others.
- AVOD channel delivery reached approx. 1.8 million monthly active viewers across four live channels on partners including Tubi, Stirr, Xumo, and others.
- Achieved estimated OTT revenue growth of 87% year over year.**
- Increased highly valuable connected TV ad requests to 83% of overall inventory mix.
- Added five new ad demand partners.
- Added key scale distribution partners including Sinclair Broadcast Group, Samsung, Comcast Xfinity, Roku, and Vizio in the fiscal year.
*All figures based on September 2019 performance data.** YoY comparisons are between September 2018 and September 2019
“Our strategy of increasing FAST linear and AVOD distribution on scale OEM and platform partners has shown tremendous results and growth over the last six months,” says Erick Opeka, President of Cinedigm Digital Networks. “Over the second half of the fiscal year, we plan to dramatically improve the monetization of the existing footprint, improve watch times and engagement, and continue to add new channels and distribution partners to accelerate growth.”
Updates on Key Ad-Supported Initiatives:
- Launch of Bambu Channel – Bambu, Cinedigm’s free Chinese film and television network aimed at western audiences will launch in a preview release on October 22, 2019.
- Additional Owned and Operated Channels – Leveraging the company’s substantial film and TV library assets, Cinedigm plans to launch one to two new owned channels per quarter beginning in calendar Q4 2019 and throughout 2020.
- Additional 3rd Party Operated Channels – Cinedigm will continue to operate and distribute channels for select third party partners, with an emphasis on well-recognized entertainment brands and companies. Cinedigm plans to launch at a minimum of one new partner per quarter.
- Matchpoint® Platform – Cinedigm expects the development and commercial release of its Matchpoint® Bluprint™ platform designed to enable the rapid release of ad-supported OTT channels for telcos, OEMs, and device manufacturers, to be completed by the end of this calendar year.
- Distribution Expansion – Cinedigm plans on continuing our successful strategy of partnering with digital platforms, OEMs, telcos, and cable & broadband providers both domestically as well as internationally. The company anticipates adding and estimated 140 million plus addressable consumer devices to our current footprint of more than 370 million based on current deal flow.
About Cinedigm:Since inception, Cinedigm (NASDAQ: CIDM) has been a leader at the forefront of the digital transformation of content distribution. Adjusting to the rapidly transforming business needs of today’s entertainment landscape, Cinedigm remains a change-centric player focused on providing content, channels and services to the world’s largest media, technology and retail companies. Cinedigm’s Content and Networks groups provide original and aggregated programming, channels and services that entertain consumers globally across hundreds of millions of devices. For more information, visit www.cinedigm.com.
Press Contact for CIDM:Jill Calcaterraemail@example.com