Cinedigm Networks Announces Record Streaming Ad Revenue Growth
November 05 2020 - 9:30AM
Business Wire
October Ad Revenues Surge 29% Month over
Month and 148% Year over Year on Record Advertiser Demand
Cinedigm (NASDAQ: CIDM) today announced revenues on the
company’s ad-supported streaming channels grew 29% from September
to October, 2020, setting a new company record. Year over year,
October revenues were up more than 148% when compared to October
2019, which was also a company record.
The company’s ad revenue growth has been driven by a dramatic
increase in advertiser demand for connected TV ad revenues, which
account for more than 96% of all ad impressions generated by
Cinedigm. Combined with a rapidly increasing customer base due to
stay-at-home guidelines, ad impressions are up more than 570% since
the Pandemic began in March 2020.
To ensure ad opportunities are filled, Cinedigm has also focused
on scaling the total number of advertising supply side platforms
(“SSPs”) reaching the company’s inventory, and added 25 new ad
partners alone in October.
“Cinedigm is in the perfect position to take advantage of the
great shift of ad dollars from Cable to streaming,” Said Erick
Opeka, President of Cinedigm Networks. “Major national brand
advertisers have woken up to the power of targeted digital
advertising in the living room, and our portfolio of premium
enthusiast networks delivers the audiences and engagement that is
increasingly difficult to reach on legacy television.”
To continue the current ad revenue growth trajectory, Cinedigm
plans to further expand the launch of new networks, with 15 new
channels signed to launch over the next twelve months. The company
is also planning to expand its ad-supported device footprint beyond
the current 850 million device base, through the addition of
additional high quality partnerships alongside key partners like
Samsung, PlutoTV, IMDBtv, Vizio and dozens more.
ABOUT CINEDIGM For more than twenty years, Cinedigm
(NASDAQ: CIDM) has led the digital transformation of the
entertainment industry. Today, Cinedigm entertains hundreds of
millions of consumers around the globe by providing premium
content, streaming channels and technology services to the world’s
largest media, technology and retail companies. For more
information, visit http://www.cinedigm.com/.
Cinedigm uses, and will continue to use, its website, press
releases, SEC filings, and various social media channels, including
Twitter (https://twitter.com/cinedigm), LinkedIn
https://www.linkedin.com/company/cinedigm/), Facebook
(facebook.com/Cinedigm), StockTwits
(https://stocktwits.com/CinedigmCorp) and the Company website
(www.cinedigm.com) as additional means of disclosing public
information to investors, the media and others interested in the
Company. It is possible that certain information that the Company
posts on its website, disseminated in press releases, SEC filings,
and on social media could be deemed to be material information, and
the Company encourages investors, the media and others interested
in the Company to review the business and financial information
that the Company posts on its website, disseminates in press
releases, SEC filings and on the social media channels identified
above, as such information could be deemed to be material
information.
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version on businesswire.com: https://www.businesswire.com/news/home/20201105005433/en/
Press Contact for CIDM: Jill Calcaterra 310-466-5135
jcalcaterra@cinedigm.com
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