Cineverse is the new name of Cinedigm, which announced in March plans to rebrand.

The new name is designed to emphasize the company’s shift from providing digital equipment for movie theaters to streaming. 

The company is also changing its stock symbol to CNVS, effective with the opening of the NASDAQ market on Tuesday.

Cinedigm To Launch Its Cineverse Of Brands On September 15

Also Read: Cinedigm To Launch Its Cineverse Of Brands On September 15

Cinedigm announced its name change at the same time it put in place a plan to purchase up to 10 million shares of its stock, which it saw as undervalued..

At the time, Cinedigm stock traded at 53 cents a share. Since March 7, shares have fallen by more than 50%. In early trading Monday the stock was up 0.65% to 29 cents a share.

Cinedigm said it is working with fashion brand FUBU to launch the For Us By Us Network.

The free ad-supported streaming television (FAST) network will feature movies, issue-oriented content about people and trends in hiphop culture and lifestyle.

The For Us By Us network will use Cinedigm’s Matchpoint platform. Cinedigm said FUBU will be one of the first brands to use Matchpoint on a software as a service basis.

Also Read: With Shares Languishing, Cinedigm Sets Stock Buyback, Rebranding

"As one of the founders of FUBU, I have gained a very deep comprehension and awareness about the urban consumer and what appeals to them not only in fashion, but entertainment as well," said J. Alexander Martin, co-owner and CEO of FUBU. "We created the For Us By Us Network so that we can provide high quality, positive content for our culture."

Cinedigm said that there are currently only 34 FAST channels focused on African-Americans, which represents only 2% of all available FAST channels. ■

Streaming service Vidgo will be able to make 10,000 films and television series available to its subscribers through a deal with Cinedigm.

Vidgo, which markets itself as a way for cord cutters to save money, offers more than 150 television networks along with a library of on-demand content.

“Our focus is to deliver an unbeatable value to our customers, while providing the content that excites audiences the most – whether it’s a major sporting event or the next Blockbuster hit,” said Derek Mattson, CEO of Vidgo. “Cinedigm is an ideal partner to help us achieve this goal. With more than 10,000 new titles, Vidgo can now offer even more of the programming our audiences love and crave, for the best value in the streaming industry. With more than 10,000 new titles, Vidgo can continue to deliver even more of the content our audiences love at the best value in the streaming industry.”

The Cinedigm programming becoming available via Vidgo includes Yu-Gi-Oh! The Movie; New York, New York; Elvis: A Generous Heart and Daniel Boone, Trailblazer.

“This partnership represents increased accessibility of the entertainment we love most,” said Cinedigm CEO Chris McGurk. “By joining forces with Vidgo, we’re able to share our incredible pool of content with more customers than ever before, and at a price people can afford. We look forward to continuing to grow this mutually beneficial relationship.”

Vidgo packages include Vidgo Plus at $64.95 per month, Vidgo Premium at $79.95 per month, Vidgo Ultimate at $99.95 per month and Spanish-language service Vidgo Mas at $39.95. ■

With its stock price below $1 per share, Cinedigm set a stock buyback and plans to rebrand the company to emphasize its streaming assets.

In a letter to shareholders, Cinedigm CEO Chris McGurk said the company plans to repurchase up to 10 million shares of its stock.

“Why are we doing this?“ McGurk said. “Our balance sheet is very strong, with essentially no debt, and our recent upside performance has increased our cash on hand even further from the end of last quarter. This gives us complete confidence that we can execute this significant stock-repurchase program without hampering planned operating expenditures, such as key content acquisitions.”

Also: Cinedigm Acquires Giving Co.’s Dove.org and Christian Cinema

On top of that, McGurk said, the company believes the stock is undervalued, making it a good investment. “We are effectively putting our money where our mouth is,” he said.

“I personally own more than 2 million shares of Cinedigm stock, so I understand the frustration that all our shareholders are feeling now, particularly given our strong operational and financial performance,” McGurk said. “With this repurchase program, we are choosing to signal that we fully agree with the analysts who study and follow Cinedigm, and who have targeted our stock price at $2.25-$5 per share.”  

Cinedigm has repositioned itself from a digital cinema technology company to a streaming company. McGurk said the company is on a “similar revenue and audience track” to where Pluto TV was when it was acquired by Paramount Global and Tubi was when it was acquired by Fox.

He also compared the company’s Matchpoint streaming platform to BAMTech, the Major League Baseball Advanced Media-developed streaming platform purchased by Disney. (Disney bought the last 15% of BAMTech last year for $900 million.)

“As Cinedigm has completed its transformation to a streaming content and technology business this fiscal year, I'm excited to announce we will be rebranding the company to reflect this momentous turning point for the company,“ he said. ”This branding will accentuate our position and narrative for today and the future.”

Cinedigm stock was heading down in early trading Thursday. After the letter came out, shares were up 5% in the afternoon. ■

Streaming media company Cinedigm said it acquired Dove.org and Christian Cinema from Giving Co.

The brands will be combined with Cinedigm’s Dove Channel to create a one-stop destination for viewers seeking faith and family entertainment.

Terms of the deal were not disclosed.

Cinedigm and Dove.org collaborated to launch the Dove Channel in 2015.

“Over the last few years, we have perfected what we think is the best approach to enthusiast streaming: giving customers more of what they want in the medium they want – movies, podcasts, editorial, commerce – under the business model of their choice,” said Erick Opeka, President & Chief Strategy Officer of Cinedigm.

“This has led to record growth in other verticals for us, including Fandom, Genre, and Asian content, and we think that Faith & Family could be bigger than all of those combined. This one-two punch of acquisitions immediately provides us with an established consumer base, immediately accretive revenue, and multiple new avenues for growth. Much like we have done in other verticals, we expect to dramatically ramp up our offerings in original theatrical releases, podcasts, publishing, audiobooks and more. It is an exciting time to see this culmination after nearly 8 years of successful partnership with Dove.org and Giving Company,” Opeka said.

Dove.org is a movie review and ratings service.  Christian Cinema is a transactional video on demand service where films with Christian values can be bought or rented.

“As an advocate for entertainment and media that reflects faith and family values, I couldn’t be more excited about the opportunities that will come from Christian Cinema becoming part of the Cinedigm family,” said David Henriksen, president and CEO of Giving Company.  “The audience for Faith & Family-focused content is powerful, passionate and growing – yet very underserved. I am convinced that the sky is the limit for how these services can grow with the addition of advanced technology, content and marketing expertise from Cinedigm.  Cinedigm is the perfect long-term home for Christian Cinema and Dove.org.” ■

Cinedigm swung to a profit in its fiscal third quarter compared to a loss a year ago, as revenues grew for the company’s ad-supported streaming channels and its subscription business.

"Our strong momentum continued in the fiscal third quarter with our business firing on all cylinders as we close in on our goal of sustainable profitability and positive cash flow,” CEO Chris McGurk said.

Third-quarter net income was $4.9 million, or 3 cents a share, compared to a $474,000 loss a year ago.

Revenues jumped to $27.9 million. nearly double the $14.1 million that was recorded a year ago.

The company said revenue from its ad-supported streaming business was up 79%. Revenue for its subscription business was up 38%. The company also said it has a goal of reducing annual operating costs by $7.5 million by the end of this fiscal year.

“This past quarter was a significant one for our streaming efforts,” president and chief strategy officer Erick Opeka said. “Following the successful launch in September of Cineverse, our flagship streaming platform, we have relaunched Screambox, Fandor and Dove Channel on our next-generation streaming platform Matchpoint. This has enabled us to scale and support record subscriber growth in the quarter.

"Our omnichannel approach to advertising across web, mobile, AVOD, FAST, audio and social drove heavy demand from advertisers during the quarter,” Opeka continued. “In planning for even greater growth in fiscal 2023, we expanded our advertising and business development teams with four significant senior hires who are already driving new revenues and growth."

Cinedigm reiterated its long-term goal of increasing annual streaming revenue by 50% over the next two to four years.  ■

Streaming company Cinedigm said it was working with producer Roundtable Entertainment to develop the GoPro Channel.

Slated to premiere later this year, the GoPro Channel will feature original programming from GoPro’s library if sports and lifestyle videos, including both professionally produced programs and user-generated content  

Roundtable will produce a new series for the channel.

"We are thrilled to be partnering with Roundtable to build the new GoPro channel," said Cinedigm Chief Strategy Officer & President Erick Opeka. "We look forward to collaborating with a brand known for celebrating positivity to deliver a new lifestyle streaming option that showcases the passions of GoPro fans."

GoPro's catalogue has generated more than 3 billion views and 10 million subscribers on YouTube. The new channel will be made available as a FAST channel across connected TV, mobile, web, and other third-party platforms

"We are so thrilled to partner with GoPro to serve viewers with some of the most unique and compelling sports content ever made,” said Dominic Ianno, Roundtable’s President and CEO. 

"GoPro is known for harnessing the power of 'wow,' and this content will open up many advertising opportunities for like-minded brands," added Roundtable co-founder Griffin Gmelich. ■

Streaming company Cinedigm said it will work with ad tech company TripleLift to enable in-show advertising on the 15 free ad-supported streaming television channels operated Cinedigm.

TripleLift’s technology will also be used to put in-show advertising into programming watched on demand.

"In-Show advertising is among the most promising opportunities for brands and advertisers to reach and engage viewers across Cinedigm’s catalog of premium content," said Tony Huidor, chief technology & product officer at Cinedigm. "We know that advertising experiences should complement the quality of a viewer’s content experience. We are excited to offer brands new and unique ways to stand out. That’s where TripleLift’s In-Show technology is a great fit for our needs."

TripleLIft’s in-show programmatic technology will collaborate with Cinedigm’s dynamic overall and split screen ad units. Ads will be contextually aligned with the content and delivered dynamically. The ads will be measurable and targetable, the companies said.

Advertisers and buyers will be able to buy the TripleLift ads on Cinedigm channels with the demand side platform of their choice.

"The ad experience should be regenerative. The way we watch has evolved, but the ad experience has historically lagged behind. In-Show advertising solves for this," said Michael Shields, general manager, Connected TV. "With In-Show advertising opportunities available across its FAST portfolio, Cinedigm remains at the forefront of the ad-supported streaming business delivering better results for advertisers and contextually relevant ad experiences for viewers, while introducing new monetization opportunities for the business." ■

Cinedigm said it hired Russell Schneider as senior VP, brand partnerships, a new position at the company.

Schneider had been VP, head of brand partnerships at Malka Media/Showtime Sports. He has also held posts at 9GAG Limited and Playboy Enterprises.

In his new post, Schneider will generate revenue by developing brand partnerships for Cinedigm's portfolio of streaming channels, movies and podcasts.

He will report to Erick Opeaka, chief strategy officer for Cinedigm Corp. and president of Cinedigm Networks.

Also: The Five Spot: Chris McGurk, Chairman and CEO, Cinedigm

Upon joining the company Schneider received stock appreciation rights for 100,000 shares of Cinedigm Class A Common Stock. The rights have a 10 year term and an exercise price equal to 45 cents a share. One third vest in 2023, another third in 2024 and the rest in 2025.

Cinedigm also named Mark Lindsey as executive VP, finance and accounting. Lindsey previously was chief accounting officer and acting CFO for Firefly Systems. ■

Amazon’s ad-supported streaming service Freevee added El Rey Network and Realmadrid TV to its linear channel lineup.

The channels are operated and distributed by Cinedigm.

Freevee also launched NacellePop, a channel created by Cinedigm in collaboration with The Nacelle Co.

"Cinedigm's agreement with Amazon Freevee is yet another step in our strategy to expand the audience for Real Madrid's streaming channel. In hearing fans of Real Madrid reverentially speaking about their unwavering passion for the players and its incredible championship pedigree, it's very easy to understand why it's called the most valuable football brand in the world," said Cinedigm president and chief strategy officer Erick Opeka. ■

Cinedigm chairman and CEO Chris McGurk says the call that brought him into the movie business came out of the blue. McGurk was happy with his job in accounting at Pepsi and Disney was looking for a chief financial officer for its studio. He interviewed with The Walt Disney Co. chairman and CEO Michael Eisner, who had just accomplished rebuilding the company. “I was a smartass. I asked him: ‘Why would I want to come here? You’ve already won the World Series. The only way to go is down.’  ” 

“I want to create a dynasty like the Yankees and the only way I’m going to do that is if I hire people like you, and you can have an impact on popular culture and impact people’s lives,” Eisner responded. “Of course, I took the job,” McGurk recalled.

He helped Eisner buy Miramax. After Disney, McGurk helped run studios for Universal and MGM while focusing on independent films. Since 2011, McGurk has been CEO of Cinedigm, which has transformed from a technology company putting movies in theaters to one that streams content to consumers’ homes.

McGurk spoke to B+C senior content producer, business Jon Lafayette from Italy, where he was celebrating his 40th wedding anniversary. An edited transcript follows.

Are you a business guy or a movie guy? I consider myself a business guy, but I also consider myself to be a champion and lover of independent film.
We’re hoping [streaming platform] Cineverse can become the Spotify for independent film and TV, and be a place where artists can come and know that their films —  like Terrifier 2 — are going to find eyeballs and not be prevented from distribution by, you know, all the Hollywood gatekeepers like I used to be. 

Has the industry’s shift to streaming come faster than you expected?
I think it came slower. It took a bit longer because of traditional Hollywood clinging to legacy businesses and people trying to save their jobs. The catalyst was the pandemic, which encouraged cord-cutting, and the transition accelerated by two or three years. But now we’re here, and despite all the naysayers and all the B.S. you hear, streaming is the future of the business and ad-supported and FAST streaming is the best part of the streaming business. We transitioned into that in 2018 and we’ve had triple-digit growth for 10 straight quarters and we don’t see anything stopping that.

How does new competition from Disney Plus and Netflix in the ad market affect you? We don’t feel we compete with Netflix and the big streamers. We have our targeted enthusiasts. And now we have Cineverse, which is the independent content they’re ignoring now because they’re trying to improve their cash flow. We’ve got a pretty clear playing field right now and feel good about it. 

The industry is consolidating and Warner Bros. Discovery is looking to get into the FAST business. Are those guys kicking your tires? What would you say if they did? We get our tires kicked all the time but our response generally is we love where we’re at right now. Everything is great about our company, except the stock price like everybody else. So it’s not good timing to do a deal. We’re trying to get up to $100, $150 million in revenue and prove we’re sustainably profitable. And at that point, we’re  in a better position to have conversations with anybody and everybody about anything.

You just signed a new employment contract to run Cinedigm for three more years. Why? I’ve spent 11 years at the company now. It took longer than I thought to get where we are right now, but we’re in a really good spot. We’re rocking and rolling and I think I’ve put a great team of people together. The future is ours and I want to be part of it for the next three years because I think we’re going to do great things. ▪️

Cinedigm said it reached a deal with Samsung to add Cinedigm’s RetroCrush to the lineup of ad-supported streaming channels on Samsung TV Plus.

RetroPlus features classic anime with films from the 1970s, 80s and 90s. Titles  on the channel include Cyber City Oedo 8080, Phoenix and Magical Fairy Persia.

“Having previously launched The Bob Ross Channel, Comedy Dynamics, The Dove Channel and Midnight Pulp as FAST channels on Samsung Smart TVs, we are thrilled to add one of our most popular channels to the Samsung TV Plus offering,” John Stack, senior director of business development at Cinedigm. “Anime continues to be one of the most sought-after genres for children and adults alike and we look forward to Samsung TV Plus viewers discovering our premium anime films and series.”

Also Read: Samsung Smart TV Users Can Enter Cinedigm's Cineverse

Samsung TV Plus offers nearly 250 channels of news, sports, and entertainment on its Samsung Smart TVs and mobile devices at zero cost to the viewer, delivering the best TV all for free. ■

Cinedigm posted a net loss in its fiscal second quarter as it grew its streaming business while winding down its theatrical equipment operations.

The net loss was $5.8 million, or 2 cents a share, compared to a loss of 195,000, or zero cents per share, a year ago. The company said the loss was driven by the reduction of its legacy digital cinema equipment sales business and included a non-operating charge of $600,000 resulting from the acquisition of A Metaverse Co.

Revenues rose 39% to $14 million. Streaming revenue increased 78% to $8 million and ad-supported revenue rose 102%. Subscription revenue was up 38%.

Also: Cinedigm To Launch Its Cineverse Of Brands On September 15

“Our strong business momentum continues with total streaming revenue increasing 78% in our fiscal second quarter - generating another record revenue quarter for the Company. Our advertising-supported streaming revenues more than doubled versus last year, thanks to our smart pivot into the AVOD and FAST businesses years ago, while other major streaming companies are just now scrambling to put their advertising strategies in place,” said CEO Chris McGurk. "Looking to the months ahead, we see several reasons to be optimistic about our financial prospects.”

"During the past quarter, we made great strides in growing and scaling our business,” added Erick Opeaka, chief strategy officer and president of Cinedigm Networks. “With the wind at our backs and the success of Terrifier 2, the biggest hit film for our streaming business to date, we expect the current quarter to show even greater success." ■

Samsung Smart TV users officially have access to Cinedigm’s Cineverse.

The Cineverse provides access to all of Cinedigm's video-on-demand content — more than 10,000 titles — plus a growing number of free ad-supported streaming television (FAST) channels.

“We are delighted to expand our partnership with Samsung,” Cinedigm VP of business development and strategy Jennifer Soltesz said. “The opportunity to bring Cineverse to an even larger audience through the most popular smart TV brand among U.S. households perfectly aligns with our overall direction for this brand and the breadth and depth of entertainment content it provides.”

Cinedigm content is heavy on independent film, anime, horror and sci-fi.

FAST channels in the Cineverse include AsianCrush, Bloody Disgusting, The Bob Ross Channel, The Country Channel, CONtv, CONtv Anime, Crime Hunters, Docurama, Retrocrush, The Dove Channel and The Elvis Presley Channel.

AsianCrush and The Bob Ross Channel were previously available via the Samsung TV Plus app.  ■

Cinedigm said its RetroCrush free ad-supported streaming TV channel has been added to the lineup of Dish Network’s virtual multichannel video programming distributor Sling TV.

Sling TV now carries 14 of Cinedigm’s streaming channels. 

Also: Words of Wisdom From Cinedigm's Chris McGurk (Bloom) 

“The expansion of our partnership with Sling TV embraces Cinedigm’s mission to bring its channels to the widest enthusiast audiences possible,” John Stack, senior director of Cinedigm business development, said. “In turn, Sling will provide the opportunity for a passionate fan base to immerse itself in best-in-breed classic anime content it won’t find elsewhere with the addition of RetroCrush.”

RetroCrush is dedicated to the Golden Age of anime. The RetroCrush line-up currently includes more than 100 series and 40 features.

The other Cinedigm channels on Sling TV are Bloody Disgusting, The Bob Ross Channel, Comedy Dynamics, Real Madrid TV, Dove Channel, CONtv, Docurama, The Only Way Is Essex, MyTime TV, The Elvis Presley Channel, So … Real, Film Detective and Lonestar. ■

I sat down earlier this month with Chris McGurk, chairman and CEO of Cinedigm and a long-time Hollywood veteran, to talk about the state of the business and where it’s going. Along the way, my former MGM boss wanted to talk about where we’ve been, and how that should shape the thinking of entertainment companies going forward. In a few words, change is constant. If you’re not rethinking, you’re sinking. 

“The one constant has been a profound change on a recurring basis, caused by new technology that goes all the way back to talkies, TV, color TV, cable, satellite, VHS, DVDs, streaming …” McGurk said. “In the face of continued technological change, if you don't rethink your business every year or every two years, and be prepared to fundamentally pivot your business, and do the right thing for your business in the face of naysayers and traditionalists who want to continue to save their job and save their business, you're going to die.”

The setting was the opening keynote of the OTT.X Fall Summit in Los Angeles, a gathering of dozens of companies focused on streaming, particularly the niche services that have proliferated in recent years. And McGurk had three pivotal moments where he was personally involved in Hollywood’s dramatic evolution the past 30 years. 

The first example was in the early 1990s, when McGurk was CFO for Disney Studios, and Jeffrey Katzenberg dispatched him to a warehouse in Emeryville, California. There, Steve Jobs was holed up after being kicked out as Apple CEO, and having shuttered NeXT Computer, in arguably one of the lowest points of his storied career. All Jobs had left was a small computer-animation company called Pixar, which wanted Disney to distribute its first feature-length movie. 

“So the first thing I said [to Jobs] was, ‘You know, some people at Disney don't want to do this deal because they think getting involved in [computer-based animation] is blasphemy,’” McGurk recounted. “And he looked at me and he said, ‘You know what? Some people at Disney are idiots.’ And he actually added, you know, an ‘F’ word to it. But I tried to be polite.”

Jobs then spent an hour “in typical Steve Jobs fashion,” explaining why those traditionalists actually were idiots ignoring technological transformation. Using a whiteboard, Jobs broke down animation’s economics, the scalability and efficiencies of 3D computer animation, and why Disney needed to evolve beyond the 2D cel animation that had built its reputation over the previous half century. 

“So we went back (to Disney), and we debated it,” McGurk said. “And we got in the CGI business because it was the right thing to do for the company, the naysayers be damned. And you saw what happened.”

Toy Story went on to smash box-office records for an animated movie, earn three Oscar nominations (and a “special achievement” Oscar for director/co-writer John Lasseter) and spawn multiple sequels. Arguably, McGurk said, Toy Story and the technology that enabled it transformed not just animation but the entertainment industry as a whole.

His second example came while McGurk was chief operating officer of MGM, after a run as a senior executive at Universal Pictures. 

It was Kirk Kerkorian’s third run as MGM’s owner. McGurk was brought in to help turn around the studio, which had been losing “losing tens, if not hundreds, of millions of dollars because they were trying to compete in the traditional theatrical way with the other major studios, even though they were very, very undercapitalized.”

The new team focused instead on acquiring film libraries, and the burgeoning market for DVDs of its 4,000 movies and thousands of hours of TV episodes, including the James Bond, Rocky and Pink Panther franchises. The DVD revolution enriched all of Hollywood, but perhaps no studio more effectively mined the opportunity than MGM.

“And then, when 2005 came along, Kerkorian called us in and said ‘Hey, guys, guess what? DVR penetration in the U.S. is 95%. In Western Europe, it's approaching that. It’s time to sell the company for a lot of money,' " McGurk said. “And we sold the company for $5 billion to a consortium headed up by Sony, [Comcast] and some private-equity firms. They took over the company and two to three years later, they went bankrupt because they went back to the old traditional, theatrically focused business that we had shied away from.”

Kerkorian, one of the 20th Century’s great if under-sung moguls, personally realized $2 billion from the deal (half of it tax free; have your accountant call me). More importantly, McGurk said, Kerkorian understood that newer technologies were about to decisively end the DVD gold rush. It was time to move on, before everyone else figured out the gold mine was largely tapped out. 

Flash forward to 2017, and McGurk had become CEO of Cinedigm, a company previously focused on helping movie theaters convert to digital projection. As that transformation plateaued, the company had shifted to streaming, with “three or four” highly focused subscription services. But competition was getting stiffer, with Netflix and Hulu beginning to invest in expensive original programming, not just licensing old shows.

“We began to see that, possibly, that was a losing proposition for us, because we were a little guy,” McGurk said. “We had a really good group of executives … who were willing to step back and say, ‘Hey, what are we going to do at this point?’ We saw the rising cost of the subscription business and content and marketing costs. But we also were looking at the growth of connected TVs, new technology, and how that really enhanced the lean-back experience sitting there, like you traditionally watch TV, where consumers would be much more willing to sit through ads when they saw streaming.”

That led to a big pivot, away from subscription to ad-supported services. By 2018, Cinedigm had launched its first FAST channel. Now it has 30 ad-supported FAST and AVOD channels, including the Bob Ross Channel, Fandor, the Elvis Channel, Dove, Bloody Disgusting and ScreamBox. Those latter two, horror-focused services have also spawned about 20 podcasts.

“It really has worked to our advantage,” McGurk said. ”I think we've had eight straight quarters, maybe more, of triple-digit advertising growth. And it's really been the engine that's propelled our business now.”

Looking forward, McGurk said it’s pretty clear that advertising will continue to drive growth, especially as international expansions try to reach audiences with less disposable income for pricey subscriptions. 

“I think it's a given that the ad dollars flowing into the streaming business are going to continue to escalate and make the ad-supported business the fastest growing business out there,” McGurk said. “It's just a given that those dollars are going to flow away from traditional TV and basic cable, and into streaming.”

But also coming is fewer big, general-appeal services, as the financial strain of competing overwhelms some. McGurk said he expects two of the big ones, and a lot of niche services, won’t be around within just a few years. 

“I think the the six major streamers right now are losing $10 billion” combined per year, McGurk said. “So there has to be consolidation. And you know, there are some obvious candidates to be consolidated that I won’t point out, but those that have huge debt loads, and are actively thumbing their nose at the creative community, because they can't, they can’t.”

For its part, Cinedigm is making like MGM in the late ‘90s, building a library beyond the 46,000 titles it has, especially looking for international rights beyond North America, and strong local operators to help drive overseas expansions.

But McGurk closed on a strongly hopeful note, saying it’s the best possible time for indie creators willing to take advantage of the new opportunities provided by new technologies and niche streaming services.

“You've got hundreds of opportunities to get access to eyeballs for your content,” McGurk said. “And I think that's a great thing.” ■

Cindeigm said it reached a deal under which subscriber to Vidgo will get access to Cinedigm’s Cineverse ad-supported streaming service 

Powered by Cinedigm’s Matchpoint technology, Cineverse is being integrated into Vidgo’s connected TV apps, mobile apps and website and available in the fall.

Vidgo is the first virtual MVPD to carry Cineverse.

“We believe in the Freedom to be Entertained and Cinedigm’s channels are just that – freedom to select from a broad range of titles, themes and fun,” said Derek Mattsson, Vidgo CEO.

Also Read: Vidgo Doubles Down on Far Right Content with New Bill O'Reilly Series

The Cineverse lets viewers  navigate through content on Cinedigm streaming channels including Fandor, Screambox, RetroCrush, The Bob Ross Channel, the Dove Channel, AsianCrush, El Rey Network, Bloody Disgusting and Comedy Dynamics.

“We’re thrilled to be working with Vidgo to offer the first bundling of our new flagship streaming service Cineverse with a top vMVPD,” said Cinedigm senior VP of Revenue Daniel Schneider.  

“Cinedigm remains focused on reaching new audiences and expanding distribution of our branded enthusiast channels and broad catalog of content across all genres. Vidgo’s innovative programming approach has enabled us to bring significant added value in premium entertainment content to their massive subscriber base and puts viewers in a position to benefit from the expanded content choices and innovative curation that Cineverse will implement to aid in content discovery,” Schneider said. ■

Cinedigm said it is working with Katch to help viewers find things they want to watch in the Cineverse, Cinedigm's new platform that serves as a hub for its genre-driven streaming properties.

The Cineverse is the first platform to try to integrate Katch’s Genomic trait  data to enhance content discovery. 

"Content discovery is at the heart of Cineverse, and it is our aim to redefine the user experience by improving how audiences discover television entertainment that better suits their interests and caters to their needs," said Tony Huidor, chief technology & product officer at Cinedigm.

Also: Cinedigm Updates Streaming Platform To Unite Channels in New Cineverse

"We are excited to lead the way in utilizing Katch’s Media Genome to enhance content discovery and look forward to rolling out other forthcoming enhancements such as an integrated loyalty program, digital rewards, and collectible NFTs,” Huidor said. “Our partnership with Katch will help us change how our viewers discover new movies in the same way that Pandora significantly changed the music industry by enabling listeners to more easily discover music that perfectly matched their music tastes."

Using Katch’s Genomic Traits Cinedigm will be able to program collections of content that are far more accurate and thematically cohesive than those programmed by most streaming services.  Content across a variety of genres can be linked together via their shared Genomic Traits, enabling Cineverse users to discover new films or series that more accurately reflect their interests and tastes.

Additionally, Katch’s proprietary data and analytics provide streaming platforms with actionable programming insights into why certain film and TV series are connecting with different audiences.

"We continue to build upon our work with major streaming platforms and studios to create a more emotional connection with audiences through taste-based programming and marketing insights,” said John Dicconson, chief commercial officer at Katch. “We are thrilled to be working with Cinedigm to help revolutionize the video viewing experience by aiding in the discovery of fresh new content through the use of our Media Genome." ■

Cinedigm said it is set to launch its Cineverse on September 15.

The Cineverse will serve as the home for the company’s free ad-supported streaming television (FAST) channels and video-on-demand  services, with an integrated guide to help viewers find the content they want to watch, whether they’re fans of fantasy, horror or other genres. 

Built on Cinedigm’s Matchpoint technology, Cineverse will come with an integrated program guide, allowing users to easily browse between channels.

Also Read: Cinedigm Building Ad Business as Revenue from CTV Grows

Channels on the hub include Fandor, Screambox, RetroCrush, The Bob Ross Channel, Dove, AsianCrush, El Rey Network, Bloody Disgusting, and Comedy Dynamics.

Cineverse initially will be available via Apple iOS , Google Android Samsung Tizen and Roku. Cineverse said it will be announcing additional distribution partners and new product features later this year. ■

Cinedigm said that it reached a new distribution agreement with FuboTV that will make five of Cinedigm’s free, ad-supported streaming TV channels available to FuboTV subscribers.

Effective Thursday, Cinedigm’s The Bob Ross Channel, Comedy Dynamics and Dove Channel are available on FuboTV’s base plan, Fubo Pro. 

The Elvis Presley Channel and RetroCrush are part of the Fubo Extra packages, available as an add-on, or part of Fubo’s Elite and Ultimate plans.

Also: FuboTV Loses Another 110,000 Subscribers in Q2, Pulls Back From Sports Betting

“The team at FuboTV has embraced the value of FAST channels, and through this partnership, their subscribers will now have access to some of the strongest, enthusiast-focused streaming brands available,” said Jennifer Soltesz, VP, business development & strategy at Cinedigm. “The explosion of FAST has made it easier than ever for passionate fans to immerse themselves into programming in any genre – from anime to comedy – or featuring the biggest pop culture icons like Bob Ross and Elvis Presley. With FuboTV as a distribution partner, we are able to bring this premium content to Fubo subscribers across North America.”

FuboTV offers a roster of more than 50 free, ad-supported streaming channels  ■

Cinedigm Corp. said it has launched the series The Joy of Painting from its The Bob Ross Channel on Snapchat’s Discovery platform.

The move will let Snapchat’s young viewers check out the venerable painter’s artistic instructions while enabling Cinedigm and its advertisers to reach a new audience.

All 31 seasons of The Joy of Painting will be available free with ads on Snapchat.

"Since the way audiences view and engage with entertainment is constantly changing, so is Cinedigm’s approach to the market. We carefully assess the landscape and cater specific content for specific platforms,” said Daniel Schneider, senior VP of revenue at Cinedigm. “The Joy of Painting from The Bob Ross Channel was the perfect series to debut on Snapchat. We are thrilled to give the Snapchat community, which has over 600 million monthly users, a new avenue to watch one of our most popular series.”

The Bob Ross Channel is carried on platforms including Pluto TV, Samsung Tv, Roku, Redbox, Freevee, Vizio WatchFree, Tubi, Stirr, Xumo, Sling, Plex, Atmosphere TV and LG.  ■

Cinedigm said it will use an enhanced version of its streaming tech platform to launch Cineverse, a new service that will unite all of the company’s linear channels, as well as more than 46,000 video-on-demand titles.

“The new tech platform, Matchpoint Blueprint 2.0, uses artificial intelligence and machine learning to improve consumers’ streaming experience,” Cinedigm said. It also enables Cinedigm and its content partners to launch new channels and full-featured streaming apps employing a variety of business models.

Cineverse will showcase a dozen of Cinedigm’s free ad-supported streaming television channels when it launches in late August. The new Matchpoint technology will enable the platform to launch with 15,000 available VOD titles.

Also: Cinedigm Building Ad Business as Revenue from CTV Grows

The service will include the entire VOD content catalog and selection of free, ad-supported TV (FAST) channels spanning various genres that are currently part of Cinehouse, a streaming service acquired with Digital Media Rights earlier this year. 

Cineverse will have an integrated program guide enabling viewers to browse by channel and offer content recommendations and search based on themes, storylines and mood.

The platform will also offer new Hollywood releases on a transactional rental basis. 

Working with LiveLike, an audience engagement platform, Cineverse will have gamification elements, allowing viewers to earn loyalty points redeemable for digital prizes and nonfungible tokens (NFTs).

Cineverse will launch on iOS, Android, Roku and Samsung devices and the web on desktops. It is also expected to be available on Amazon Fire TV, Apple TV, LG, webOS and HTML by the end of the year.

A premium subscription option with access to additional content and an ad-free option will be available in the fall, Cinedigm said. 

Cinedigm acquired the Matchpoint technology when it bought FoundationTV last year.

“Our incredible engineering team in India has been working hard to maintain Matchpoint’s position as an industry-leading solution for building a streaming video service — one that can deliver content at scale to more than 75 different digital platforms in a fully automated manner — as well as distribute third-party content at half the cost of leading competitors,” Cinedigm chief technology and product officer Tony Huidor said. “We are pleased with the achievements that have been made to date and look forward to showing how our technology, along with some new innovative features, will enhance the user experience for all of our channels — starting with our forthcoming service, Cineverse.” 

Cinedigm’s streaming networks including Con TV, Screambox, Fandor, AsianCrush, Midnight Pulp, The Country Network, Real Madrid.tv, El Rey Network, Dove Channel, Bloody Disgusting, The Elvis Presley Channel and The Bob Ross Channel. ■

Cinedigm said that it reduced its net loss in its fiscal fourth quarter as streaming revenue rose.

For the quarter ended March 31, Cinedigm said its net loss was $3.1 million, or 2 cents a share, down from $6.9 million, or 5 cents a share, a year ago.

Revenues rose 104% to $16.9 million.

Ad supported streaming revenues rose 109%, the company said.

Also: LG, Freevee, Vizio, Sling, Xumo, Plex, Local Now Launch Elvis Presley Channel

“We achieved these impressive results because we aggressively entered the high growth ad-supported streaming business several years ago while many other companies continued to solely focus on the highly competitive and expensive general entertainment subscription business,” said CEO Chris McGurk.

At the end of the quarter, Cinedigm acquired Digital Media Rights and said it plans to rollout Cineverse and other initiatives taking advantage of its Matchpoint streaming technology.

“We expect all these initiatives will generate substantial new multi-million dollar annual revenue streams with minimal working capital and overhead requirements,” McGurk said. ■

The Elvis Presley Channel has launched on platforms including LG Channels, Amazon’s Freevee, Vizio, Sling, Xumo, Plex and Local Now.

The channel, created in partnership by Elvis Presley Enterprises and ABG Entertainment, with Cinedigm, features the King of Rock ‘n’ Roll in films and specials, as well as series and lifestyle programming.

Original series are in development.

"We are thrilled for fans to immerse themselves in Elvis' world with the launch of The Elvis Presley Channel," said Matt Abruzzo, senior director - brand management, entertainment, Authentic Brands Group (ABG), owner of Elvis Presley Enterprises, LLC. "The Elvis fandom is incredibly passionate, and when it comes to serving enthusiastic fan bases, no one does it better than Cinedigm."

Cinedigm announced plans to launch the channel last year.   ■

Cinedigm said it named David Chu, the former president of DMR, as executive VP and general manager of Cinedigm Networks, a new position.

Cinedigm acquired DMR earlier this year for $22 million .

Chu will oversee Cinedigm’s owned channels and will be responsible for programming, distribution and marketing strategies as the networks looking to increase awareness, traffic and viewership.

Also: Cinedigm Building Ad Business as Revenue from CTV Grows

He will continue to be based in New York and report to Cinedigm president and chief strategy officer Erick Opeka.

Also: Cinedigm’s Streaming Strategy Starts to Pay Off

“David’s reputation in the industry for successfully growing direct-to-consumer entertainment properties is impeccable,” said Opeka. “As the co-founder of DMR, he was instrumental in developing and orchestrating the strategy which saw the company materially expand while helping to transform the industry as it specialized in launching and nurturing multiple OTT Channels.”

Chu will continue to oversee DMR’s channels, including AsianCrush, Midnight Pulp, RetroCrush, Cocoro, Crime Hunters and KMTV. The Cinedigm channels include Fandor, Dove, Docurama, CONtv, CONtv Anime, Film Detective and Lonestar.

“I’m excited to join Cinedigm in this role of overseeing the owned channels,” said Chu. ”I look forward to working closely with Erick and our incredibly talented team and helping to grow Cinedigm’s rapidly-expanding network of channels.” ■

Cinedigm’s Digital Rights Management unit said its AsianCrush unit has been launched on Comcast platforms including Xfinity X1, Xfinity Flex and XClass TV.

Comcast will also launch DMR’s RetroCrush, Midnight Pulp and Cinehouse streaming channels later this year.

“We’re excited to bring fans of AsianCrush, RetroCrush, Midnight Pulp, and Cinehouse another way to enjoy our premium content,” said John Stack, DMR’s director of digital distribution and content strategy. “Comcast’s entertainment platforms deliver world-class viewing experiences to its customers and we’re thrilled to have DMR’s apps join the Comcast family.”

Also: The Roku Channel Adds AsianCrush to U.S. Linear Channel Lineup

AsianCrush features pan-Asian entertainment, including popular TV dramas and movies, award-winning indies and genre classics.

Cinedigm acquired DMR in January for $22 million.

The company reported earlier this month that its streaming advertising revenue grew 192% in 2021 and that it expects to outperform the CTV market in 2022.  ■

In the streaming world, the decisions by Disney Plus and Netflix to get into the ad business were big news.

Cinedigm faced a similar choice and opted to get into the ad-supported streaming business in addition to its subscription business. 

Also: Cinedigm Cuts Third-Quarter Loss as Revenue Jumps 42%

The company said its ad revenue grew 192% in 2021, beating the CTV growth rate by more than 236%. Now it’s beefing up its sales force and Cinedigm Ad Solutions, and predicts it will outperform the burgeoning overall connected TV market in 2022, which the IAB expects to show 39% growth.

Erick Opeka, president of Cinedigm Networks and chief strategy officer of Cinedigm, told Broadcasting+Cable that the company started out as a pure-play in SVOD.

“About four years ago, I said we probably need to do SVOD and AVOD to get a broader based of people into the services,” Opeka said. “Fast forward to today, between our app based services and launching a ton of FAST services, we went from zero to about 40 million monthly users across our platform.”

Some of that growth came through acquisition. Among the companies Cinedigm purchased was horror site Bloody Disgusting. The owners of Bloody Disgusting–Heather Luttrell and her brother Peter Luttrell–were ad industry professionals who previously built a business they sold to Demand Media.

“They’re serial ad tech entrepreneurs and direct ad sales experts," Opeka said.

Heather Luttrell is overseeing the build out of Cinedigm Ad Solution, which internally is referred to as “CASH,’ Opeka said, without being able to explain what the “H” stands for.

Cinedigm has been staffing up its ad sales operation, hiring a direct sales force to meeting with media buyers and clients. The staff currently has about eight members.

“The goal is to build those relationships directly,” Opeka said. “We’ll still do some programming but we’re really moving almost exclusively into the direct sales space. I imagine we’ll be direct selling the bulk of our inventory over the next 12 months.”

In the advertising world, Cinedigm is positioning itself as being in the enthusiast business and has separated its channels and brands into interest budgets, one for fandom, one for horror, one for family programing. For example, the family bucket includes its Dove Channel, the Bob Ross Channel and MyTime, a clone of Lifetime, all of which reach a female skewing audience with PG-rated shows.

Cinedigm added another bucket–multicultural-when it acquired DMR in April. It also owns KOR, a virtual MVPD offering Korean programming.

CTV offers advertisers enhanced targeting and other advanced features and Cinedigm works with Iris TV, Gracenote, SpringServe and Publica as ad tech purveyors.

Advertisers can take advantage of Cinedigm’s large social footprint, including about 20 million subscribers on various YouTube channels. It also as a brand studio to create custom content and integrations for sponsors

Opeka said Cinedigm is focusing on CTV and will need robust ad sales if its channels are eventually going to be able to support original programming and grow the way the cable industry did.

For now, Cindigm is keeping ad loads at about half the 16 minutes per hour ad load seen on cable. “Our audience is accustomed to less ads. This allows us to provide a good programming experience, and its still an improvement over broadcast,” he said.

As financial pressure to add programming increases, ad load are starting to creep up. “I don’t think this business goes to 16, although I think you’re seeing some of the largest companies pushing it in that direction.” ■

The Roku Channel has added AsianCrush to its linear channel lineup in the U.S.

AsianCrush, which provides Pan-Asian entertainment programming, was picked up by The Roku Channel in December in Canada. It joins a list of channels from Digital Media Rights already on The Roku Channel in the U.S., including RetroCrush, Midnight Pulp and Coroco.

DMR was recently acquired by Cinedigm, boosting its clout with distributors.

Also: Roku Channel Adds 16 More Linear 'Networks' From Brands Including A&E, WildBrain and FilmRise

“Our relationship with The Roku Channel in the U.S. and Canada has been mutually-beneficial since it began nearly two years ago, and we’re pleased to find new opportunities to utilize what each company does best,” said John Stack, DMR’s director of digital distribution and content strategy. “We believe The Roku Channel users will enjoy viewing the wide variety of Asian entertainment that AsianCrush consistently delivers, and are delighted to be expanding the reach of this popular, premium content.”  ■

Cinedigm said it cut its losses as revenue grew 42% in the third quarter.

The third quarter net loss was $500,000, or less than a penny a share, compared to $9.7 million, or 7 cents a share, a year ago.

Revenue rose 42% to $14.1 million.

The company said streaming revenues were up 104% from a year ago, with ad supported streaming revenue up 110% and subscription streaming revenue up 109%.

Also: Cinedigm Acquiring Digital Media Rights, Adding 10 Additional Streaming Channels

"We had our strongest results ever in streaming this quarter, registering triple-digit growth for the fourth quarter in a row," said CEO Chris McGurk. "We have a unique strategy and portfolio business model in technology, content and streaming that provides multiple revenue streams to fuel this record growth and separates us from others in the space. We also have a strong balance sheet with zero debt and are profitable year to-date. Clearly, we continue to fire on all cylinders." 

Cinedigm said total streaming minutes in the quarter rose 47% to 1.33 billion. Total monthly ad-supported streaming channel viewers in the quarter increased 44% to 33 million.

Total subscribers to the company’s subscription video streaming services jumped 446% to 954,000. ■ 

Cinedigm said that its RealMadrid TV channel has launched on Pluto TV, ViacomCBS’s big streaming service.

Realmadrid TV focuses on Spain’s Real Madrid, one of the world’s most popular soccer teams. It shows 2 or 3 matches per week during the season in addition to other news and features.

The network joins Pluto TV’s sports category.

Also Read: Cinedigm’s Streaming Strategy Starts to Pay Off

"Real Madrid has one of the most loyal fanbases worldwide, with more than 450 million fans across the globe.  With Real Madrid’s strong and continually growing fanbase in the U.S., Realmadrid TV now offers those fans an incredible opportunity to catch the latest matches, news, and revisit classic moments in the club’s history,” said Jennifer Soltesz, VP, business development & strategy at Cinedigm.

“Realmadrid TV on Pluto TV brings the world’s most famous and successful soccer team to one of the most popular ad-supported streaming services, giving fans across the country a close look at the team they love,” Soltesz said, ■ 

El Rey Network, revived by Cinedigm, has been launched on Comcast’s Xumo as both a free ad-supported linear channel and as a video-on-demand service.

The channel joins Xumo’s lineup of more than 200 channels, including an increasing amount of programming aimed at Hispanic viewers.

El Rey was launched in 2013 by director Robert Rodriguez, who continues to curate the channel’s programming and appears on the series The Director’s Chair. It was shut down in January 2021 as a cable network after financial partner Univision pulled out of the channel. 

“Robert Rodriguez, whose name is synonymous with creativity and innovation, has inspired a whole generation of filmmakers,” said Jennifer Soltesz, VP, business development and strategy at Cinedigm. “More than ever, representation matters, and, with this channel, Rodriguez has given a platform for Latinos to tell their stories and define themselves. Xumo allows the El Rey Network to reach a massive new audience and, through this curated vision, will allow the channel to generate substantial advertising revenue among a key demographic in the growing AVOD and FAST space.” ■

Cinedigm said that it agreed to pay $22 million to acquire Digital Media Rights, a streaming, advertising and content distribution company, according to a Securities and Exchange Commission filing that became available Friday.

DMR announced the transaction Thursday, but the purchase price was not disclosed.

According to the filing, the $22 million purchase price will consist of $8 million in chase and $14 million in Cinedigm Class A common stock. 

Also: Cinedigm’s Streaming Strategy Starts to Pay Off

The sellers were listed as DMR founder and CEO David Chu, Augustine Hong, Helen Hong, Michael Hong, Justin Lee, Steven Park and Kingsoon Ong. 

The acquisition expands the number of streaming services Cinedigm has and the amount of content it has in its library.

The deal also puts Cinedigm in the ad sales business. DMR’s Ad Network & Marketplace generates more than 100 million connected TV impressions a month. ■

Cinedigm said it agreed to acquire Digital Media Rights, which will add 10 new channels and additional content to Cinedigm’s growing streaming stable.

Financial terms were not disclosed. A source familiar with the deal said the pricetag was in the $20 million to $25 million range, with DMR generating a profit on about $10 million in annual revenues

The addition of DMR’s assets will give Cinedigm 30 subscription and free streaming services that accumulate 40 million monthly viewers and more than 4 billion views.

Also: Cinedigm’s Streaming Strategy Starts to Pay Off

The acquisition also takes Cinedigm into the ad network business. DMR’s Ad Network & Marketplace scores more than 100 million connected TV impressions a month, the companies said.

“DMR’s top-notch management team, high-quality channels and film & TV library perfectly complement our own strengths and our mission of serving enthusiast audiences,” said Chris McGurk, chairman and CEO at Cinedigm.

“When you consider the other key additive components from this deal, including the global reach of DMR’s expansive social media efforts, we are well-positioned to not only reach a rapidly growing new audience in the short-term but also to expand the scale of a larger Cinedigm umbrella channel strategy in the long run. We expect this acquisition to be immediately accretive, and the leverage of Cinedigm’s technological efficiencies and expansive portfolio of assets will spur significant additional growth,” McGurk said. 

Also: Cinedigm Chops Net Loss as Streaming Business Jumps

The deal will increase the size of Cinedigm's content library to more than 46,000 hours of films and TV episodes. Much of the content is Asian and anime, which are becoming increasingly popular and valuable.

Also: AMC Networks Adds to Streaming Portfolio with Sentai Anime Acquisition

DMR's streaming networks are AsianCrush, Midnight Pulp, RetroCrush, Cinehouse, Cocoro and KMTV. DMR's social media unit's channels are C-Crush, Cinehouse Romance, K-Crush and QTTV.

"The strong synergy between Cinedigm and DMR is readily apparent, and by working together, we can continue to deliver and further scale our top-notch, curated streaming channels to our audiences in a way that builds a true sense of community,” said David Chu, co-founder and CEO of DMR. 

“The team at DMR is proud to have built an impressive lineup of channels and offer content that can meet the rising demands of audiences around the world, including fans of incredibly popular Korean dramas, Japanese anime, and Chinese TV, as well as arthouse, romance and horror movies,” said Chu. “It's why we're thrilled to align with this key industry player and are looking forward to a future with even more expansion opportunities."■

Cinedigm said it made a deal with LG to make nine of its most popular free ad-supported streaming channels to the LG Channels platform on the set-maker‘s smart TVs.

The channels can be easily accessed by LG TV users and are integrated directly into the television and its channel guide.

The channels are The Bob Ross Channel, Dove Channel, Real Madrid TV, El Rey Network, Lonestar, MyTime Movie Network, The Country Network, So … Real and The Only Way Is Essex.

Also: Cinedigm, Shout! Factory in Deal That Adds Movies to Both Company's Streaming Services

“Smart TVs have transformed the way viewers consume content with connected TVs becoming the dominant viewing medium for hundreds of millions of viewers,” said Jennifer Soltesz, VP, business development and strategy at Cinedigm. 

“Introducing these nine streaming channels to fans and genre enthusiasts on LG Smart TVs now expands Cinedigm’s presence across virtually all major television manufacturers in the world. We’re pleased to grow our partnership with LG, just in time for the busy holiday season as consumers are making choices around connected TV purchases,” Soltesz said. ■

Cinedigm and Shout! Factory made a deal in which each company is able to stream certain films from the other’s library, expanding the offerings on their streaming channels.

Shout! Factory will be able to stream more than 40 Cinedigm films on Shout Factory TV, a streaming service set up in 2015. 

Titles Shout! Factory TV will have access to include Short Term 12 with Brie Larson, Rami Malek and LeKeith Stanfield, 22 Bullets and Highlander season one.

Also: Cinedigm Movies To Be Available on SideStream Live Discussion Platform

“Given our long-standing relationship with Shout! Factory, we are furthering our company’s objectives to offer our catalog to targeted audiences,” said Yolanda Macias, chief content officer at Cinedigm. “The partnership also provides Cinedigm an abundance of fresh content to refresh our streaming channels and excite our viewers. We know that genre fans are incredibly passionate about what they’re consuming, so we take great care in sourcing meaningful titles to enhance their programming experience.”

At the same time, Cinedigm’s Fandor, Screambox and Bloody Disgusting will have access to 120 films from Shout Factory! 

The Shout Factory! titles going to Cinedigm include On Golden Pond, The House That Dripped Blood and The Count of Monte Cristo.

“In the burgeoning world of AVOD, SVOD, and FAST channels, having the right content mix is critical to building a successful digital streaming business,” said Gene Pao, executive VP of strategy and digital at Shout! Factory. “Our collaborative relationship with Cinedigm allows us to offer the best possible programming to our respective audiences. This unique partnership allows both Shout! Factory and Cinedigm maintain its leadership position in the industry.” ■

Streaming company Cinedigm made a deal to put some of its movies on SideStream, a new service that plans to let viewers pay to take part in real-time discussions while the film plays.

Cinedigm has been expanding with subscription services and free ad-supported streaming television channels. The deal with SideStream has it playing in the transactional video-on-demand space.

“As catalog continues to be a key revenue driver for TVOD, Cinedigm looks for new and unique ways to drive revenue for the Company’s library, which includes forward-thinking social engagement opportunities for our premium films,” said Kali Turja, executive director of digital sales at Cinedigm. “The dynamic ability of the SideStream app allows audiences to share and experience their favorite films with friends and followers. Cinedigm is thrilled to be a launch partner of SideStream, a company at the forefront of the next wave of social cinema.”

Launching in February, SideStream was started by CEO Neal Tiles and chief product officer Kevin Pereira, who have both held positions and created content for numerous media companies.

Also: Cinedigm Chops Net Loss as Streaming Business Jumps

SideStream lets would-be influencers legally screen studio movies and charge admission to fans who want to watch and discuss the films. The ticket price has two components--a fixed charge for the movies and a fee for the commentary determined by the host, who receives 75% of the total net proceeds of each ticket sold.

On its website, SideStream says that aa film that attracts will generate $1,306 for the host (compared to $32 one could generate via Twitch).

The platform has deals with studios including Universal Pictures.

The Cinedigm films that will be available on SideStream include The Call, the cult classic Highlander: The Movie, Short Term 12 with Brie Larson, LaKieth Stanfield and Rami Malek and River Runs Red, with a cast headed by Taye Diggs and John Cusack. ■

The Bob Ross Channel has been launched by Amazon’s IMDb-TV ad supported streaming service.

The channel, launched in 2020, has become a staple on platforms carrying live streaming TV channels. 

Also: Amazon Ponders Another Rebrand of IMDb TV

The channel features episodes of The Joy of Painting, which ran for 31 seasons and showcases the artist Bob Ross explaining in his unique way how to make his soothing landscapes. 

"Many of us have grown up with Bob Ross, and even though we never knew him, he was a part of our life," said Jennifer Soltesz, VP, business development & strategy at Cinedigm, which distributes the channel. "I think now, more than ever, we could all use the happiness and calmness he exudes in our lives. Through launching The Bob Ross Channel on IMDb TV, we are proud to have introduced Bob Ross to a whole new generation of viewers across all major streaming platforms." ■

Streaming company Cinedigm announced that The Country Network launched on The Roku Channel as a free, ad supported TV channel.

Cinedigm in June said it made a deal with The Country Network to get the country network distributed on streaming platforms. Cinedigm has a number of networks already carried by Roku, including the new Real Madrid TV.

While Roku become the first streaming platform to carry The Country Network, it continues to be carried over the air and on cable systems to about 40 million households in 51 markets.

“Country music has one of the most engaged and passionate fan bases with worldwide appeal, and we are thrilled to give these loyal viewers a new way to access TCN,” said Daniel Schneider, senior VP, revenue at Cinedigm. “This also allows country music fans who stream music programming to now get their country music fix from TCN on The Roku Channel.”

Also: Cinedigm Relaunches Screambox With Larger Distribution Footprint

The Country Network competes with ViacomCBS’s CMT. Another cable channel, Great American Country floundered for years before being sold by Discovery to former Hallmark Channel head Bill Abbott’s GAC Media earlier this year. Abbott has turned Great American Country into GAC Family, which now air family friendly programming and original holiday movies.

While The Country Network profiles country music stars and has blocks of music videos, it will use streaming to diversify its programming, adding specials and stand-up comedy. ■

Cinedigm nearly broke even in its fiscal second quarter as streaming revenue skyrocketed.

The company’s net loss was $273,000, or zero cents per share, compared to a net loss of $26.6 million, or 23 cents a share a year ago.

Revenue went up 41% to $10.1 million.

Also: Cinedigm Swings to $15 Million Net Income in First Quarter

The company said its second quarter streaming revenue went up 139% and its second quarter ad supported streaming channel revenue went up 208%. Subscription streaming channel revenue went up 73% in the quarter.

"We continued our strong momentum with another triple-digit streaming revenue growth performance in the second quarter," said Chris McGurk, Cinedigm chairman and CEO. "We look forward to continuing this momentum as we further broaden our robust enthusiast streaming channel portfolio and expand platform distribution into the next two fiscal quarters, which are the historically strongest seasonal periods of our business."

McGurk said the company is “well-positioned to scale the high volume of film & television content we license and deliver it to our partners at the click of a button, while at the same time reducing our operational costs."

Streaming television company Cinedigm said it picked Mediagenix‘s Whats‘On platform to manage its portfolio of ad-supported streaming television channels.

“Mediagenix has a long track record of success in powering content workflows for both traditional broadcast and satellite/cable-based channels, as well as streaming services,“ Cinedigm chief technology officer Tony Huidor said. ”We look forward to utilizing their Whats’On platform to streamline and significantly scale our content programming workflow.”

“Specifically, we intend to leverage the Whats’On platform’s extensive programming capabilities to more efficiently manage and schedule our significant content portfolio and rapidly growing number of ad-supported FAST channels in a more efficient and automated manner,“ Huidor said. “This is an important step in further spurring Cinedigm’s rapidly evolving FAST business, so we are excited to partner with MediaGenix to help scale our FAST portfolio.”

Whats’On will be used to handle scheduling and optimizing programming for Cinedigm‘s Dove Channel, CONtv and Docurama.

“Mediagenix  is excited to work with Cinedigm, one of the industry leaders in the burgeoning FAST space, and we look forward to enabling Cinedigm to strengthen their growth in the coming years,” said Tim Waddingham, senior director of business development for Mediagenix Americas. “OTT business models are maturing and increasingly embrace advertising through AVOD and FAST to accommodate changing viewer behavior. An increasing number of consumers who have grown used to accessing content via digital distribution show a great preference for programming that is offered free. As a business management platform that seamlessly connects content, rights, and scheduling workflows across all distribution channels, Cinedigm can leverage our market-leading solution Whats’On.”

Cinedigm said it released a set of horror-based NFT tradition cards branded as the Bloody Disgusting Blood Pack.

Working with Cinedigm's Bloody Disgusting brand, a group of artists have created images inspired by their favorite horror movies for the cards.

Consumers will be able to bid to buy the one-of-a-kind NFTs. Winners will also get a physical print of the original painting hand signed by the artist.

In addition, Cinedigm is offering a free welcome gift in the form of a limited-edition, exclusive NFT trading card to existing and new subscribers of the company’s horror streaming service Screambox. A limited number of subscribers (666 to be exact) will receive one generative art-based Standard Edition NFT collectible trading card that has been specifically designed to generate a limited amount of numbered unique variations with varying degrees of rarity. 

Also Read: Cinedigm To Sell NFTs Based on Classic Films From Fandor

“We are thrilled to offer at auction our first series of collectible NFT trading cards, while also offering new and existing subscribers to Screambox their first chance at redeeming a free collectible trading card,” said Tony Huidor, Cinedigm’s chief technology & product officer. “We see this as a great opportunity for us to reward our new subscribers, as well as our existing loyal subscribers, by offering them an opportunity to participate in the new and exciting world of collectible NFTs.”

Cinedigm is utilizing Rad.live’s Ara NFT platform and marketplace as the back-end of this launch. Rad’s platform allows a content publisher to package and monetize any type of limited-edition premium content.

“Rad and Cinedigm are continuing to push the industry forward together, and we couldn’t be more excited about launching this NFT collection in partnership with them,” said Tony Mugavero, Rad’s CEO. “We’re innovating the next wave of NFTs, working with top-tier artists doing one-of-a-kind works, and pairing that with Bloody Disgusting, utility, and rare collectability all in one. It’s a game-changer.”

The initial collection of NFTs comprising Series 1 can be viewed at www.screambox.com/bloodpacks. For the 6 nights, 6 hours and 6 minutes prior to 12 a.m. EST on Halloween night, these 13 collectible NFTs will be sold at auction. 

Streaming distribution company Cinedigm said it relaunched its Screambox subscription-based horror channel.

Cinedigm said it moved Screambox from the Vimeo platform to Cindigm’s proprietary Matchpoint Blueprint framework. The switch lets Cinedigm expand the channel’s catalog of titles more quickly and expands its distribution footprint

Screambox was acquired by Cinedigm in February. Cindeigm also acquired Bloody Disgusting last month. The Bloody Disgusting TV channel will be featured on the new Screambox.

An updated app will enable horror fans to stream both linear and live events.

“The acquisition of Screambox allows us to leverage our proprietary technology to better manage and operate the channel at scale,” said Tony Huidor, Cinedigm’s chief technology & product officer. “With the addition of Screambox to our channel portfolio along with our growing investments in the horror genre, we have an opportunity to reach a loyal fanbase of horror fans and solidify our position as a leader in the horror genre within the OTT space.”

With Screambox and Bloody Disgusting TV Cinedigm can offer fans the subscription-based (SVOD), ad-supported (AVOD) and free ad supported linear options. Horror fans can also access a network of podcasts as well as the ability to learn about their favorite movie or actor while interacting with fellow horror enthusiasts on the website.

Also Read: Cinedigm To Handle First Digital Rentals of Hallmark Channel Content

Cinedigm is adding new content in horror sub-genres including slashers, supernatural and zombies. 

Knifecorp, starring horror icon Kane Hodder, slashed its way into homes this past September as a Screambox exclusive and the 8-part original series The Island will take audiences to a disease-ridden island off the coast of Europe this October. Cinedigm also recently acquired Brain Freeze, the zom-com favorite that opened this year’s Fantasia International Film Festival.  

Independent distribution company Cinedigm said it will start offering digital rentals on select Hallmark Channel titles for the first time as part of a renewed distribution agreement with Crown Media Family Networks.

The renewal calls for Cinedigm to continue to handle distribution of Hallmark Channel content via transactional video-on-demand and physical media sales.

Also Read: Cinedigm Launching BOP Network With Choreographer Laurieann Gibson

Hallmark programming is sold over digital platforms including Amazon, Apple and Vudu.

Cinedigm has distributed Hallmark programming for nearly a decade. Over that time period, Hallmark’s VOD and physical media business has grown, thanks to promotions including day-after-air sales and in-store exclusives.

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“Hallmark is a special studio because their content does more than just entertain, they evoke a feeling of joy and warmth with their passionate fan base,” said Yolanda Macias, chief content officer and head of digital sales at Cinedigm.

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“With so much uncertainty in the world, they remind us of the values we all have in common: the importance of friendship, family and love,” Macias said. “Seeing how audiences gravitate towards this content gives us a sense of pride; it’s touching to know that we can play a part in building a connection between the audience and these films by making them available to own and now rent.”

Cinedigm’s relationship began in 2012 as a launch partner for Hallmark’s ancillary business, distributing all aspects from its films to TV to the Hallmark Hall of Fame. During this time, together Cinedigm and Hallmark have built this business from the ground up.

“We at Crown Media greatly value our ongoing relationship with Cinedigm, which allows us to bring our heartwarming, uplifting content to fans anywhere and everywhere, across retail and digital,” added Natalie Vandergast, VP consumer products. “We look forward to continuing this rewarding partnership in the years ahead as our content offerings and fanbase continue to grow.”

Cinedigm said it formed a joint venture with choreographer, director and pop-culture figure Laurieann Gibson that will create a new multi-media streaming service dedicated to dance called BOP Network.

Gibson will oversee the channel (BOP stands for Born Out of Passion), working with Cinedigm on development, production, distribution and monetization.

Also Read: Cinedigm Acquires Horror Brand Bloody Disgusting

“It’s a privilege to partner with Laurieann to launch BOP,” said Cinedigm CEO Chris McGurk. “Her career and track record of success is an inspiration for anyone brave enough to pursue their dreams. Having built so many well-known brands throughout her career, we look forward to tapping into that drive while helping her create the next superstar in her repertoire, by launching this first of its kind global streaming platform.”

Dance programming on the channel will include movies, musicals documentaries and music video, plus scripted and non-scripted original content, dance fitness workouts and dance tutorials led by Gibson and other influencers. 

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The channel will be available as an AVOD service on smart TVs, digital set-top boxes, media-streaming and mobile devices, OTT platforms and the web. Cinedigm’s channels have distribution relationships with platforms including  Pluto TV, Samsung, TCL and Vizio.

Gibson is known for working with performers including Lady Gaga, Katy Perry, Nicki Minaj, Diddy, Megan Thee Stallion, Alicia Keys and The Jonas Brothers. She is currently a judge on Fox’s So You Think You Can Dance. Gibson’s previous credits include Dance Moms, Beyond the Spotlight, Honey, The Four, The Dance Scene and Can’t Stop Won’t Stop: A Bad Boy Story.

Cinedigm has bolstered its presence in the horror genre, purchasing 20-year-old entertainment brand Bloody Disgusting for an undisclosed amount of cash and stock. 

The deal is being billed as accretive to Cinedigm's earlier acquisition of horror-focused subscription video-on-demand service Screambox in February. 

"Having acquired Screambox earlier this year and having distributed hundreds of horror film and TV titles over the years, we understand the enormous potential that lies within the horror genre," said Chris McGurk, chairman and CEO of publicly traded  Cinedigm.

Bloody Disgusting launched as a small internet startup in 2001, focused on reviews of movie and TV horror titles. The growing company branched out into its own horror movie label in 2011, V/H/S.

Bloody Disgusting now claims to reach 30 million unique horror users annually, blending in a podcast, a mobile app, and a sizable presence on the social internet. 

Last year, Cinedigm partnered with the company to launch Bloody Disgusting TV, a free to view ad-supported streaming channel, distributed via the Roku Channel. 

Under the new arrangement, Bloody Disgusting's team will be left intact to manage not only their own internet properties, but Screambox, too. Titles emerging from both Screambox and Bloody Disgusting will also be dispersed throughout Cinedigm's growing portfolio of SVOD, AVOD and FAST services. 

"The acquisition of Bloody Disgusting shows Cinedigm's commitment to the genre," said Erick Opeka, chief strategy officer of Cinedigm. "The brand and the site are so much more than streaming; it's a respected brand within the horror community. In the years to come, we hope the site and streaming channel are not considered just a great source for horror content but the source for horror content."

Cinedigm shares were up more than 4% as of midday trading. 

Cinedigm said that The Film Detective, its film restoration and streaming company, acquired Holland Releasing’s library of more than 100 classic films and television shows.

Titles in the package include Frank Capra’s Meet John Doe and Howard Hughes’ The Outlaw starring Jane Russell. Other films are in the science fiction, horror and comedy genre. The library features rare film prints and negatives.

"Our primary business has always been the creation of new movies and TV shows," said Tom Holland, who formed Holland Releasing in 1990 after a career that included being VP of Columbia Pictures and COO of Screen Gems. “But over the years we also built a substantial library of classic motion pictures. I am delighted that The Film Detective and Cinedigm have now acquired these films and will add them to their extensive library."

Financial terms were not disclosed.

“We are extremely excited about this important acquisition,” said Phil Hopkins, president of The Film Detective and Fandor. “Tom's many years as a studio executive in the motion picture industry and commitment to the preservation of these important classics will serve not only our goal to continue to distribute classic cinema into our many OTT platforms with new 4K and HD restored versions, but also our plans to make them available to the collector's market as NFTs and Blu-rays."

Cinedigm said it recorded a profit in its fiscal first quarter, reversing a loss a year ago, as revenues for its subscription and ad supported streaming channels increased.

According to the company's preliminary results, net income was $5 million, or 3 cents a share, compared to a net loss of $19.9 million, or 21 cents a share, a year ago.

Revenue rose 149% to $15 million.

Streaming channel revenue increased 181% from a year ago, with ad supported streaming channel revenues up 301% and subscription streaming revenues up 88%.

Also Read: Cinedigm’s Streaming Strategy Starts to Pay Off

Streaming minutes were up 18% to 1.37 billion in the quarter. Total subscribers were up 6% to 679,000.

Cinedigm also said that it received a deficiency notice from Nasdaq because it hasn't filed its 10-Q quarterly report form in a timely manner. Failure to file could result in it being delisted. The company said it intends to file within the next few days.

Also Read: Cinedigm Files Annual Report To Avoid Nasdaq Delisting

"We're in a great position. Our streaming revenues increased 181% this quarter and we have a very strong balance sheet having paid down all remaining Company debt shortly after quarter end. There is an enormous opportunity for Cinedigm to continue this rapid growth, all supported by an exceptional management team that we continue to enhance," said CEO Chris McGurk.

Also Read: Cinedigm Reviving El Rey Network as Streaming Service

During the quarter, the company acquired Indian tech company FoundationTV, announced plans to launch The Elvis Presley Channel and agreed to help boost distribution of The Country Network.

Cinedigm said that its has made deals to get more of its channels carried by The Roku Channel.

The newly added channels are Real Madrid TV, So . . .Real and The Only Way to Essex.

The Roku Channel previously announced adding the El Rey Network, the failed cable channel that has been revived by Cinedigm.

Also Read: Cinedigm’s Streaming Strategy Starts to Pay Off

"The Roku Channel continues to grow as a go-to destination for streaming, enabling users to discover and enjoy a wide variety of programming," said Daniel Schneider, senior VP, revenue at Cinedigm. "We are thrilled to help make such a variety of new channels that we know will appeal to each enthusiast audience available on The Roku Channel." 

Cinedigm said it reached an agreement to revive filmmaker Robert Rodriguez’s El Rey network, which folded on cable at the end of last year.

The new El Rey will be a streaming service, with Cinedigm providing distribution through its network of distributors. Cinedigm said this marks the first time that a cable brand has pivoted completely from linear to streaming. 

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“El Rey has always been a network for the people -- a mainstream outlet where we discover diverse, independent voices. The fact that we can also now make our catalogue of kick-ass programming available for free to all gives me enormous joy,” Rodriguez said. "As audiences move deliberately to streaming, it was important for me to democratize our platform so that the masses have the opportunity to see themselves in our lineup of curated, inclusive and entertaining content. This is a huge win in every way, and I want to thank Cinedigm for putting fans first with this new alliance."

Also read: El Rey Network (2013-2020) Seeks Digital Afterlife 

As part of their deal, Cinedigm will work with El Rey to partner with like-minded advertising brands on custom content and will distribute Rodriguez’s feature film Red 11 and the companion docuseries, Rebel Without A Crew: The Robert Rodriguez Film School, exclusively to all platforms.

Featured El Rey Network content includes Rodriguez’s conversations with creatives like John Carpenter and Quentin Tarantino in The Director's Chair; Rebel Without A Crew: The Series, in which filmmakers set out to make their first feature under Rodriguez’s guidance; a library of unscripted franchises including The Chuey Martinez Show and feature films that run the genre gamut from grindhouse to cult classic action to horror/sci-fi.

“What was once only available to those with expensive cable packages is now available through a variety of mediums. The partnership with El Rey allows the channel to broaden its digital footprint, as well as expand the access of its incredible programming to audiences worldwide,” said Erick Opeka, president & chief strategy officer at Cinedigm.

“We’re excited to be stepping in at this important moment alongside the passion, dedication and forward-thinking vision that Robert Rodriguez brings to the table. In addition, Cinedigm’s strong advertising partner relationships with blue-chip demand partners like Magnite (SpotX/Springserve), Comcast’s Freewheel, Verizon Media, Xandr, just to name a few, will allow the channel to generate substantial advertising revenue among a key demographic in the growing AVOD & FAST space,” he said.

The English-language El Rey Network, founded by Rodriguez and production company FactoryMade, launched in December 2013 as one of the first four minority-owned networks Comcast promised to launch in seeking government approval to acquire NBCUniversal in 2011. In some 40 million homes at its peak, according to published reports, El Rey was in 13 million households when it shut down linear network operations about two months after financial partner Univision pulled out of the channel.

Cinedigm said it reached an agreement that puts three of its streaming channels on Dish's Sling TV service.

The three channels are Dove Channel, CONtv and Docurama.

Also Read: YouTube TV Launches Cinedigm Channels as $4.99 Add-Ons

"Since its inception, Sling TV has been at the forefront of live TV streaming," said Jennifer Soltesz, VP of business development & strategy at Cinedigm. "Working with Sling TV not only allows us to reach a diverse, new audience, but it gives us a partner with the same forward-thinking drive. We can't wait to show these new customers the amazing networks Cinedigm has to offer." 

Cinedigm has been broadening the distribution of its subscription and free streaming channels, as well as creating new ones.

The company reported a big increase in streaming revenue during its most recent quarter.

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When Dish reported its results for the first quarter in April, it said Sling had 2.37 million subscribers, down 100,000.