Cinedigm Corp. (NASDAQ:CIDM)
Historical Stock Chart
6 Months : From Jan 2019 to Jul 2019
Cinedigm (NASDAQ: CIDM) announced today a partnership with leading OTT platform Future Today, Inc. to distribute the Company’s popular Chinese entertainment channel BAMBU—giving the network the widest distribution of any Chinese content AVOD channel in the United States. Future Today is one of the globe’s major AVOD channel networks, owning and operating more than 700 content channels with over 60 million app installs, and managing 200,000-plus film, television and digital content assets that currently receive over 85 million video views per month in a variety of categories such as entertainment, movies, food & lifestyle, animation, and kids. BAMBU will launch on Future Today in June.
Future Today’s cloud-based technology and ad-based monetization platform manages OTT services for more than 350 content owners, producers, distributors, and major media companies, enabling them to launch and monetize complex Connected TV channels across devices in a matter of days. Using their dynamic advertising technology and expert sales capabilities, Future Today will play a crucial role in the monetization of BAMBU, and will spearhead the flourishing entertainment outlet’s re-launch across the OTT platform’s connected distribution network which includes televisions, set-top boxes, mobile apps, and online services.
Announced earlier this year, BAMBU provides viewers with a unique and innovative experience specializing in content previously unavailable to American audiences. With a primary focus on Millennial and Gen Z viewers, BAMBU offers curated programming that spans far beyond typical martial arts dramas, putting the spotlight on a diverse roster featuring modern action epics, intense serials, romantic comedies, sci-fi favorites, horror, and fantasy adventure sagas, as well as music and reality series, and educational programming ranging from instructional Chinese language courses to culinary shows—all coming together to form the only complete Chinese entertainment platform in the United States. The channel’s content is constantly being refreshed and refined based on what is resonating with its audience.
BAMBU viewers can enjoy a wide selection of films featuring Jackie Chan in the 2017 fantasy Namiya, Ziyi Zhang in the 2013 spy farce My Lucky Star, the sci-fi mystery Battle Of Memories, supernatural rom-com Beautiful Accident, road trip comedy Breakup Buddies, the noir-inspired crime epic Cock And Bull, tense cat-and-mouse thriller The Devotion Of Suspect X, the father-and-son drama Lost And Love, and many more, as well as popular programs such as Journey To The West, the most-watched television show in Chinese history; current hit Diamond Lover; and the acclaimed documentary series A Bite Of China, among others.
"Cinedigm is proud to continue our partnership with Future Today, Inc., as we re-launch BAMBU on their diverse network of platforms,” said Erick Opeka, President of Cinedigm Digital Networks. "Their long-established and highly successful advertising and sales strategies are a truly invaluable resource that will play a vital role in further expanding our reach. We look forward to introducing BAMBU to an even wider audience, providing them with a unique viewing experience that they simply cannot find anywhere else.”
“Future Today is pleased to have the opportunity to join with Cinedigm on the distribution of the BAMBU channel,” said Vikrant Mathur, Co-Founder of Future Today. “Our talented team has had great success in the launch and monetization of hundreds of networks, and we are excited to bring this expertise to BAMBU on an even larger scale, as we work to give the platform the widest distribution among all Chinese-content channels in the United States.”
Cinedigm recently announced that it has entered into a definitive agreement to acquire Future Today for $45 million in cash, and $15 million in Cinedigm Common stock. The transaction is expected to close in the second calendar quarter of 2019 and is subject to customary closing conditions.
ABOUT CINEDIGMSince inception, Cinedigm (NASDAQ: CIDM) has been a leader at the forefront of the digital transformation of content distribution. Adapting 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.
ABOUT FUTURE TODAYEstablished in 2006 by Founder and CEO Alok Ranjan and Co-Founders Vikrant Mathur, Sumeet Anand and Sharib Khan, Future Today, Inc is a pioneer and leader in the OTT media and technology landscape having launched its first suite of OTT channels in 2011. The company has also successfully developed popular channels like HappyKids.tv and Fawesome.tv. To date, the company has amassed more than 60 million downloads of their more 700+ channels across a diverse segment of categories including food, lifestyle, news, sports, kids and entertainment. The self-funded company runs a well-managed, cost-efficient and profitable operation. For more information, visit www.futuretodayinc.com.
Press Contact for Cinedigm Digital Networks:Cindy Ronzonicronzoni@cinedigm.com