April 11, 2019
Cinedigm April 11 gave a shout out to a cloud-based technology company it is in the process of acquiring.
The home entertainment distributor recently entered into an agreement to acquire Future Today for $45 million in cash, and $15 million in common stock. The transaction is expected to close in the second quarter of 2019.
Cinedigm said it would use Future Today’s cloud-based technology and ad-based monetization platform for the June launch of its Chinese-themed ad-supported VOD channel Bambu.
Future Today owns and operates more than 700 content channels with more than 60 million app installs, and managing 200,000-plus film, television and digital content assets Cinedigm claims receive 85 million video views per month.
Using their advertising technology and sales capabilities, Cinedigm says Future Today will play a crucial role in the monetization of Bambu, which includes television, set-top boxes, mobile apps and online services.
With a primary focus on millennial and Gen Z viewers, Bambu offers curated programming spanning far beyond stereotypical martial arts dramas, instead putting the spotlight on actioners, serials, romantic comedies, sci-fi, horror and fantasy, as well as music, reality series and educational programming ranging from instructional Chinese language courses to culinary shows.
Movies include Jackie Chan in the 2017 fantasy Namiya, Ziyi Zhang in the 2013 spy farce My Lucky Star, sci-fi mystery Battle of Memories, supernatural rom-com Beautiful Accident, road trip comedy Breakup Buddies, the noir-inspired crime drama Cock and Bull, cat-and-mouse thriller The Devotion of Suspect Xand father-and-son drama Lost and Love, among others.
TV shows include “Journey to the West,” the most-watched television show in Chinese history; current hit “Diamond Lover,” and the acclaimed documentary series “A Bite of China,” among others.
“[Future Today’s] long-established and highly successful advertising and sales strategies are a truly invaluable resource that will play a vital role in further expanding [Bambu’s],” Erick Opeka, president of Cinedigm Digital Networks, said in a statement.