Cinedigm Acquires Over 1,000 Hours of Premium Film and TV Programming for Growing Streaming Channel Business
November 30 2020 - 9:30AM
Business Wire
New Content Will Leverage Record Setting
Ad-Based Streaming Growth and Fourth Quarter Ad-Surge
Cinedigm (NASDAQ: CIDM) announced today that the Company has
added over 1,000 hours of programming to its extensive library.
This influx of premium content supports new internal primetime
programming strategies to capture a share of the $1.2 billion
projected streaming holiday ad spending this season. This move will
allow Cinedigm to continue to refresh and curate high quality
content across its wide range of streaming networks that reach
hundreds of millions of devices.
This most recent set of content acquisitions includes over 450
films and more than 70 new series. Cinedigm continues to strengthen
the Company’s catalog with new content including documentaries
featuring music icons such as David Bowie in Bowie: The Man Who
Changed The World and Elvis in Elvis – A Generous Heart
and television classics with the iconic Betty White in Betty
White: Date with Angels. Some additional highlights to be
offered within the Company’s digital networks include horror films
The Hills Have Eyes & Audition, Syfy Channel’s
wildly popular series Ghost Hunters, classics like Dr.
Jekyll and Mr. Hyde & Flash Gordon and kids and
family series Babar as well as the Boonie Bears
franchise.
In addition, Cinedigm has bolstered its existing portfolio of
Westerns, True Crime and Holiday titles through these most recent
acquisitions. The Company has also begun a recent move into Spanish
language programming with titles such as El Boxeo (boxing
documentary) Mix L.A. (Spanish version) and Chuckie Perez
Show (faith & family programming).
“Our team has worked over the last few months to fill our
library with quality content that will resonate with both streaming
platforms and audiences alike,” said Yolanda Macias, Executive Vice
President, Cinedigm Entertainment Group. “We expect these
acquisitions will excite and attract new viewers while taking
advantage of vastly increased consumption during the calendar 4th
quarter, the strongest period of the year.”
“These recent acquisitions are timed to drive engagement during
primetime on our streaming channels, where our goal is to increase
viewership by 30-40% in calendar Q4 and capture more advertising
dollars,” said Erick Opeka, Cinedigm’s President of Digital
Networks. “Ad dollars have surged 88% month-over-month and we
expect to deliver up to 40% of the year’s ad revenues in the 4th
calendar quarter.”
The Company also capitalized on the record setting AVOD growth
this past year by closing distribution deals with prominent
platforms including: NBCUniversal’s Peacock, Viacom’s Pluto, Roku
and Redbox. Cinedigm continues to invest in independent content to
distribute across all premium platforms including The Voices
staring Lin Shaye, the prolific documentary Wild Daze and
Steps, which is Executive Produced by Shaquille O’Neal.
In addition to adding all these quality titles, Cinedigm
recently announced an agreement to acquire The Film
Detective, a top source for digitally remastered classic films
and series and owner of 2 successful streaming channels, combining
those assets with the Company’s growing portfolio of content and
digital networks. With a catalog of nearly 13,000 film and
television episodes, The Film Detective’s robust library is
sure to have something for everyone.
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/20201130005305/en/
Press Contact for CIDM: Jill Calcaterra 310-466-5135
jcalcaterra@cinedigm.com
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