Headquartered in New York City, Cinedigm Corp. (CIDM) provides digital media assets, namely film and television properties, within North America and abroad. With a library of over 52,000 films and TV episodes, Cinedigm is a leading independent content distributor in the United States, with direct relationships with thousands of physical retail storefronts and digital platforms, including Wal-Mart, Target, iTunes, Netflix, and Amazon, as well as the national Video on Demand platform on cable television.
Additionally, given Cinedigm’s infrastructure, technology, content and distribution expertise, the Company has rapidly become a leader in the quickly evolving over-the-top digital network business. Cinedigm’s first channel, DOCURAMA, launched in May 2014, and is currently available on iOS, Roku, Xbox and Samsung, with additional platforms currently being rolled out. Cinedigm launched CONtv, a Comic Con branded channel, on March 3, 2015. The Company’s third OTT channel, DOVE CHANNEL, launched on September 15, 2015 and is a digital streaming subscription service targeted to families and kids seeking high quality and family friendly content approved by Dove Foundation (Cinedigm™ and Cinedigm Digital Cinema Corp™ are trademarks of Cinedigm Corp. www.cinedigm.com. [CIDM-F]).
“We are now a leader in the rapidly growing digital streaming channel business, where we already have three successful channels and a fourth on its way. Also, we continue to grow as an important provider of independent content and digital services to key players in the third party SVOD business, soon to be a $20 billion market,” said Chris McGurk, Cinedigm’s Chairman and CEO in the company press release. “Our recent operational results, combined with our progress on key financings, real estate transactions, reduction of debt and more than $10 million in annual operating cost savings, position the Company for more success.”
The company is moving in the direction that many consider the future of video: online video or OTT. The company has growing subscribers (an estimated 76,000 through three operating channels) and reaches niche groups through their multiple channel strategy. Cinedigm is for those who want to cut the cord and they have the selection to make it worthwhile. They have 58,000 content titles available and, as mentioned above, three channels: Docurama, Dove, and ConTv. The company also has an in-house production studio where they can create and launch channel content.
Cinedigm’s OTT channels are also available to Amazon Prime members as part of Amazon’s Streaming Partners Program. Launched a year ago, this program has delivered significant additional channel subscribers to Cinedigm with no incremental costs. Cinedigm’s channels are also available across a wide and growing variety of connected devices including most Android and iOS mobile phones and tablets, Roku streaming media players, Samsung Smart TVs, Apple TV and the Web.
“Given the progress of the existing OTT offerings across a wide variety of platforms, we expect meaningful financial impacts from these partnerships in the next 12 months,” continued McGurk.