Cinedigm has acquired Fandor, a subscription streaming service for independent films, documentaries and international features.
Fandor has a catalog of more than 4,600 film titles from more than 400 film companies.
Cinedigm plans to leverage its content library, technology, engineering and distribution capabilities to rapidly expand Fandor’s content offering, relaunch the service’s apps and dramatically expand distribution to Cinedigm’s global footprint of more than 900 million connected devices, according to a press release.
Cinedigm will continue to offer the service (currently at $5.99 per month) ad-free, but also plans to offer a free, ad-supported on-demand tier as well as a linear streaming channel.
Cinedigm plans to draw from a pool of more than 7,000 relevant film titles in its library, including thousands of classic, cult and foreign titles from streaming service The Film Detective, which it acquired in December 2020, according to the release.
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Cinedigm also plans to relaunch Keyframe, Fandor’s web and video-based publication dedicated to covering the art of cinema.
Phil Hopkins, president of Cinedigm’s Film Detective division, will oversee Fandor and Keyframe, with the goal of relaunching the service in the coming quarter.
“This acquisition of Fandor, coming on the heels of our Film Detective acquisition, solidifies Cinedigm’s position as the leading global streaming company for independent films,” Chris McGurk, Cinedigm chairman and CEO, said in a statement. “As a key element of our recently announced streaming rollup strategy, Fandor will immediately benefit from our streaming distribution muscle, huge library of independent films, Matchpoint technology, cost savings and infrastructure and synergies with our wide portfolio of enthusiast streaming channels. We fully expect an immediate EBITDA uplift from Fandor and strong revenue and profit growth going forward.”
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“The paradox of the streaming revolution is that it has never been harder to discover classic, essential and new independent and foreign films,” Erick Opeka, chief strategy officer and president of Cinedigm Networks, said in a statement. “The founders of Fandor had the right idea, launching very early in the streaming growth cycle while still establishing a strong and resilient brand and viewer base. Our mission at Cinedigm is to enable viewers, including independent film enthusiasts, to stream their passions, and I can’t think of a streaming service that is truer to our mission than Fandor.”
“The opportunity to leverage Fandor’s passionate community of independent film enthusiasts will be integral in the service’s growth,” Phil Hopkins, president of the Film Detective, said in a statement. “Being able to communicate and collaborate with this community of content creators, bloggers, and editorial writers will allow us to significantly expand Fandor into the global focal point for streaming independent films, documentaries, classics and foreign films.”