Cinedigm Announces Record Ad-Supported User Growth Milestones for Q1 2020
April 21 2020 - 10:03AM
Cinedigm (NASDAQ: CIDM) today announced several key growth
milestones for its fast-growing group of advertising-based digital
networks.
In March 2020, Cinedigm’s footprint reached approximately 9.4
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 more than 108% from the
4.5 million viewers reported in October, 2019.
Key Milestones and Facts*:
- FAST linear channel delivery reached approx. 7.2 million
monthly active viewers across eight live channels across partner
base including Xumo, Stirr, Samsung TV Plus™, The Roku Channel™,
Vizio Watch Free™, DistroTV, and others.
- AVOD channel delivery reached approx. 2.2 million monthly
unique viewers across five channels on partners including Tubi,
Stirr, Xumo, and others.
- Total viewing hours were up 636% YoY and more than 419% since
Oct 2019.
- Total viewing hours were up 28% MoM in March 2020 with the
commencement of shelter-in-place restrictions due to COVID-19.
- Increased highly valuable connected TV ad requests to 89% of
overall inventory mix.
- Added three additional Ad Demand Partners in the Quarter.
*All figures based on Jan-March 2020 performance data.** YoY
comparisons are between March 2019 and March 2020
“Our strategic focus on linear and scale AVOD channel deployment
continues to pay off with rapid growth of our user footprint,” says
Erick Opeka, President of Cinedigm Digital Networks. “Despite the
challenges facing America and the advertising industry in whole,
our focus on building a strong base of addressable, connected TV
users and an emphasis on premium film and TV content has us
well-positioned in the most defensible sector in the advertising
industry. We are enthusiastically redoubling our efforts to sever a
great experience to cord-cutting and value-seeking consumers over
the next several quarters as we emerge as a leader in OTT channel
operation and management.”
Updates on Recent and Upcoming Key OTT
Initiatives:
- Launch of the Bob Ross Channel – Cinedigm’s
Channel in partnership with Bob Ross Inc. launched on April 16th
2020. The Channel will continue to roll out to additional platforms
over the coming quarter and anticipates reach of more than 90
million homes by the end of Q2.
- Viewster relaunch – Cinedigm’s
European-centric AVOD service Viewster relaunched in the EU on
select smart televisions. Given Viewster’s extensive base of
international content rights, we anticipate expanding the channels
footprint further in the EU, Asia, India and LatAM over the coming
quarters.
- Additional Owned and Operated Channels –
Leveraging the company’s substantial film and TV library assets,
Cinedigm plans to launch two additional channels later this year,
beginning with CONtv Anime, a 24/7 Japanese
animation network to launch this quarter.
- Additional 3rd Party Operated Channels – The
company anticipates the launch of two channels with our partner
All3Media in the coming quarter. Additionally, the company
anticipates adding at least one to two additional channel partners
per quarter for the remainder of the fiscal year.
- Distribution Expansion – Cinedigm further
expanded our distribution footprint in Q1, including launches on
Vizio WatchFree, Foxxum, Zeasn/Philips, Distro TV, Redbox, and
others. The company plans on continuing our successful strategy of
partnering with digital platforms, OEMs, telcos, and cable &
broadband providers both domestically as well as
internationally.
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
Calcaterra/310-466-5135jcalcaterra@cinedigm.com
Source: Cinedigm Corp.
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