31 May Cinedigm – A Look at the Bigger Picture!
Cinedigm Corp, (NASDAQ: CIDM), a leading streaming company, has signed a deal with MonteCristo International Entertainment, a wholly owned subsidiary of Broadside Enterprises, Inc, through which independent feature films will be made available on cinedigm’s streaming channels. The move seeks to leverage the extensive digital reach of cinedigm to reach millions of potential users worldwide.
Commenting on the cooperation, Josh Thomashow, Executive Director of Acquisitions at Cinedigm commented,
“Cinedigm looks for high-quality films that resonate with our viewers. Having spent years in the independent space, we appreciate the passion and dedication that goes into independent filmmaking. Partnering with MonteCristo International allows us to bring a number of premium films to our streaming channels and provide viewers with a refreshing batch of new entertainment.”
The Company has also partnered with STRUMM, a new streaming service that is backed by an erstwhile Disney CEO Michael Eisner and created by Disney and Discovery executives. Cinedigm will be launching four of its digital channels including popular titles namely The Ultimate Gift & The Identical, Destroy All Monsters and documentaries such as The World Before Her. The Company will be launching its Dove Channel, Docurama, CONtv and SoREAL during the initial launch of STRUMM, which is currently available for an early preview on the iOS App store, web, and Chromecast and is gearing up for a summer rollout on AppleTV, Android TV, Android, Amazon Fire TV, and Roku as per a company statement.
Erick Opeka, President of Cinedigm Digital Networks, opined
“This past year changed the way people consume digital streaming channels, Where the landscape was once dominated by the major SVOD platforms, consumers are now branching out and finding there is so much more out there. Struum allows for the discovery of curated streaming channels and content, leaning into a more diversified streaming landscape of the future.”
Furthermore, the company reported significant 72 percent year-over-year growth in monthly users, for April 2021, for its faith and family programming channel, named DOVE Channel. There was an 85% year over year growth in minutes viewed as well. The channel targets the need for high-quality, value-based films for the entire family and is available across North America in subscription, ad-supported and FAST offerings across different viewing formats.
Cinedigm Corp, (NASDAQ: CIDM)
Market Cap: $ 237.31M; Current Share Price: 1.43 USD
Data by YCharts
Industry
According to a report by Grand View Research Inc, the global Video Streaming market will reach an estimated USD 124.57 Billion by 2025, growing at a CAGR of 19.6 percent. The growth is due to the availability of high-speed internet such as 3G, 4G and LTE, which is causing an increase in the demand for online and on-demand content. The emergence of online streaming platforms such as Amazon, Netflix and Hulu are challenging the content dished out by conventional television channels. In fact a report by ResearchandMarkets predicts that the online Music Streaming industry alone will be worth over US$56.7 Billion, growing at an impressive CAGR of 33.6 percent.
As per an estimate over 100 million internet users watch videos online and 92 percent of these users share video content with others. Live Video is also one of the fastest growing segments in terms of ad revenue, with an impressive 113 percent growth in ad revenues, outperforming the growth of other forms of online video. Another interesting statistic is that 45 percent of live video users are willing to pay for live content. Live streaming solutions have wide applicability, transcending its current use for entertainment streaming. The technology can be applied to various segments of the economy such as news, business meetings, training, education, advertising campaigns ecommerce and online shopping as well.
The technology provides an opportunity to connect to target audiences and opens up new revenue streams. The industry is still at a nascent stage, being limited to passive broadcasts over TV’s, which will gradually evolve into more personalised live streaming experiences as the technology evolves and adaptation improves.
Company
The Company provides premium content and streaming services to media and technology companies around the world. Cinedigm operates three divisions namely Streaming Content, Networks and Technology to cater to the growing need for high-quality content distribution. The Company has strategic relationships with major digital platforms and retail storefronts and is a premier OTT network distributor.
Cinedigm has a library of thousands of films and TV Episodes that cater to the ever-changing needs of a diverse viewing population. The Company’s worldwide distribution network delivers content across various formats such as theatrical, digital, cable and satellite VOD, broadcast television, streaming and physical (4K, Blu-ray, DVD, disc-on-demand). A full-service marketing department helps develop media plans, press releases and social media content for content partners. The Company also keeps track of delivery metrics across 50+ platforms, including information such as territory auditing and royalty reports.
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Cinedigms’s digital and television partners include industry leaders such as COMCAST, Directv, Google, Hulu, iTunes, Netflix, Prime Video among others. The Company’s retail partnerships include amazon, bestbuy, redbox, Target and Walmart. In addition, the Company caters to Digital Cinema companies like AMC theatres, CBD, Cinemark, Disney, 20th Century Fox and Sony Pictures to name a few.
The Company’s offerings include The Lone Star Channel, The Film Detective, The Bob Ross Channel, Gametoon, Whistle TV and Fashion Box among others. Cinedigm’s Matchpoint™ Platform Suite is a combination of three standalone components, which provide full-stack scalable solutions for OTT and video distribution. The platform helps simplify the workflow and automate the process of digital content delivery. Matchpoint Blueprint™ app framework enables in-built support for advertising as well as in-app billing, while Matchpoint Insights™ delivers valuable insights through in-depth analysis of KPIs and metrics related to the OTT business.
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Key Takeaways
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References
https://finance.yahoo.com/news/broadside-enterprises-inc-otc-brse-125300149.html
https://finance.yahoo.com/news/cinedigm-partners-struum-streaming-designed-133000598.html
https://finance.yahoo.com/news/cinedigm-announces-significant-over-growth-133000758.html
https://finance.yahoo.com/news/cinedigm-announces-fandor-selects-tm-132500490.html
https://deadline.com/2021/01/cinedigm-acquires-fandor-film-streaming-service-free-tier-1234676152/
https://finance.yahoo.com/news/cinedigm-announces-agreement-acquire-advanced-132500533.html
https://advanced-television.com/2021/02/15/cinedigm-acquires-screambox/
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