Cinedigm Reports 27% Fiscal Second Quarter Digital Sales Growth in Transactional and Ad-Based Video On Demand
November 06 2020 - 9:15AM
Business Wire
Strong Digital Transactional Sales on
Amazon, Which Grew 78%, Drove Much Of This Growth
Cinedigm (NASDAQ: CIDM) announced today that Q2 FY 2021 (July 1,
2020 through September 30, 2020) Transactional Video On Demand
(TVOD) and Ad-Based Video On Demand (AVOD) digital sales increased
27% year-over-year. Viewership increased across all platforms and
consumer transactions were significantly higher than in the past,
the Company reported. The driving force for the digital sales
growth is the digital transactional space, with partners such as
Amazon seeing 78% year-over-year growth in Q2 and 49% sequential
growth within Q2 from August to September.
In addition to Cinedigm’s rapidly growing streaming channel
business, the Company distributes tens of thousands of hours of
premium digital film and TV content to every major streaming
platform across the global OTT ecosystem, with over 70 platform
partners in over 180 territories worldwide. Key premium branded
content includes films in the Action, Horror, Western and Military
genres such as the current box office success The Call,
along with Family (Hallmark, ZDF), Anime (Konami Cross Media) and
Sports (NFL, NHL) content.
“We continue to generate impressive year-over-year double digit
growth with our TVOD and AVOD digital sales businesses, yielding a
combined 27% increase,” said Yolanda Macias, Executive Vice
President, Cinedigm Entertainment Group. “Consumers are actively
engaged with streaming content in home entertainment either with
rental, purchase or free advertising supported options.”
Cinedigm also enacted various promotional programs to accelerate
sales of our digital catalog business. The promotional programs
that led the catalog business to overperform include Hallmark
Summer Romance and Hallmark Bundle promotions on Apple and Vudu,
BLM and seasonal promotions like Summer Travel, July 4th, Anime,
Labor Day, and Back to School, and TV season catch up sales.
Cinedigm continues to expand its distribution footprint with new
accounts, recently closing new deals with NBC Universal’s Peacock,
Kanopy, Fubo, Plex, Redbox AVOD, Local Now AVOD, Fuse and opened
LATAM for PlutoTV and Tubi.
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, free and paid streaming
channels, and technology services to the world’s largest media,
technology and retail companies. For more information, visit
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
(https://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/20201106005086/en/
Press Contact for CIDM: Jill Calcaterra 310-466-5135
jcalcaterra@cinedigm.com
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