Cinedigm Reports 34% Q1 Digital Revenue Increase

Cinedigm July 13 announced its strongest fiscal first-quarter (ended June 30) performance in more than five years. Citing the current stay-at-home environment among consumers, streaming video viewership increased across all platforms, including transactional VOD. Digital revenue increased 34% from the previous-year period.

“We have been laser focused on aggregating and distributing thousands of titles to the key streaming platforms like Netflix, Apple and Amazon given the huge demand for independent premium content we are seeing from both existing and newly launched platforms,” said Yolanda Macias, EVP of Cinedigm Entertainment Group.

Macias said that with existing and new streaming platforms requiring a steady supply of digital content to keep pace competitively, Amazon, Apple, Vudu, Google, InDemand EST, Hoopla, Microsoft, Sony and Fandango Now all generated their strongest performance levels in history with Cinedigm — achieving over 60% year-over-year quarterly growth.

Los Angeles-based Cinedigm said next-day such as Hallmark’s “When Calls the Heart,” and ITV’s “Good Witch” series achieved strong consumer sales. Cinedigm orchestrated several consumer promotional programs to accelerate sales of digital catalog — including “Spring Sales,” “Mother’s Day,” “AnimeMay” and “June Weddings.”

Cinedigm closed eight new AVOD deals, including Redbox TV, Google and Fuse. Five more expansion deals are in process.

For children out of school and parents left to homeschool, Cinedigm has rolled out strategic promotions, including digital download activity books, digital bookmarks, and coloring books that coincide with educational content to increase content consumption and engage the platform’s audience.

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Cinedigm achieved 70% and 115% growth in Q1 from the previous-year period with content distribution partnership with Hoopla and Overdrive, respectively. In addition, the company executed a new business deal with Kanopy, a college library digital platform.

Cinedigm distributes film and TV content to more than 70 digital platforms in 180+ territories. Branded content includes co-productions in the action, western and military genres along with family (Hallmark, ZDF), anime (Konami Cross Media) and sports championship programs (NFL, NHL).

“We expect to continue these strong results going forward as our relationships with content producers and streaming content distribution platforms continue to get stronger and expand,” Macias said.

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