Cinedigm said that in March it had record growth for both its subscription and ad-supported streaming services.
The company said that total subscribers to its portfolio of subscription streaming services rose 574% from a year ago to 640,000.
It also said that it has 23.8 million monthly active viewers to its ad supported digital networks, up 208%.
It also said that minutes streamed rose 3.5% to 423 million in March and that advertising requests increase by 431%.
About 96% of all of Cinedigms streaming tool place on connected TV.
“A year ago, we announced an aggressive strategy to rapidly expand our footprint of FAST linear streaming and AVOD channels, and to also rapidly expand our SVOD channel subscriber growth through M&A, distribution expansion, and partnerships,” said Erick Opeka, chief strategy officer and president of digital networks for Cinedigm. “Today, we are pleased to show that, in a turbulent world for entertainment, the relentless focus of our incredible team is paying off in record growth in subscribers, free viewers, engagement, and ultimately, revenue.
The fuel is streaming business, Cinedigm has been on an acquisition spree, agreeing to buy Fandor, The Film Detective, Screambox, and FoundationTV.
Cinedigm is also looking to get into the non-fungible token (NFT) space based on the its owned content.
The company said it has four potential NFT products in development: a new, NFT-based film releasing label, an NFT-based consumer loyalty product for our streaming services, an NFT automation and distribution platform, and a marketplace product for video-based NFT collectibles.
“I am proud of the efforts of Cinedigm’s team to not only execute on five M&A transactions a matter of months, but also conduct major channel and product launches and planning amidst an already aggressive growth trajectory,” said Opeka. “This reflects the extensive competitive advantage that Cinedigm holds in executing a highly complex and technical roll-up strategy.”
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