Increasing its footprint to more than 7.6 million monthly active users and 67 million total app installs, Cinedigm Corp plans to acquire the Future Today over-the-top platform and adverting video-on-demand channel.
The acquisition — valued at $45 million in cash and $15 million in Cinedigm common stock — is expected to be immediately accretive. Future Today generates positive net income, with revenues increasing by almost 150% in calendar year 2018 to an estimated $23.9 million in full year revenues.
Future Today operates more than 700 content channels with more than 60 million app installs, and manages more than 200,000 film, television and digital content assets that receive more than 85 million video views per month in a variety of categories, including entertainment, movies, food & lifestyle, animation, and kids.
The property has several proprietary brands, headlined by flagship channels Fawesome.tv (focussed on general entertainment films and television shows) and HappyKids.tv, a free kid’s channel providing age-specific edutainment in the connected TV market.
Future Today’s cloud-based technology and ad-based monetisation platform meanwhile manages OTT services for more than 350 content owners, producers, distributors and major media companies, including key partners such as Filmrise, WatchFreeFlix.
Cinedigm has been on a buying spree – it recently completed the acquisition of the global VOD service Viewster and its subsidiary platform Viewster Anime.
Alok Ranjan and Vikrant Mathur, co-founders of Future Today, will continue to lead and operate Future Today as co-presidents and will enter into long-term employment agreements with Cinedigm upon the deal closing.
“Alok and Vikrant have built Future Today into one of the most respected and fastest growing companies monetising video content today,” said Erick Opeka, president of Cinedigm Digital Networks. “Their entrepreneurial spirit and deep knowledge of the video ad space, combined with Cinedigm’s content and relationships, will be a formidable and compelling combination in the rapidly growing AVOD segment.”
Future Today operates more than 700 content channels with more than 60 million app installs, and manages more than 200,000 film, television and digital content assets that receive more than 85 million video views per month in a variety of categories, including entertainment, movies, food & lifestyle, animation, and kids.
The property has several proprietary brands, headlined by flagship channels Fawesome.tv (focussed on general entertainment films and television shows) and HappyKids.tv, a free kid’s channel providing age-specific edutainment in the connected TV market.
Future Today’s cloud-based technology and ad-based monetisation platform meanwhile manages OTT services for more than 350 content owners, producers, distributors and major media companies, including key partners such as Filmrise, WatchFreeFlix.
Cinedigm has been on a buying spree – it recently completed the acquisition of the global VOD service Viewster and its subsidiary platform Viewster Anime.
Alok Ranjan and Vikrant Mathur, co-founders of Future Today, will continue to lead and operate Future Today as co-presidents and will enter into long-term employment agreements with Cinedigm upon the deal closing.
“Alok and Vikrant have built Future Today into one of the most respected and fastest growing companies monetising video content today,” said Erick Opeka, president of Cinedigm Digital Networks. “Their entrepreneurial spirit and deep knowledge of the video ad space, combined with Cinedigm’s content and relationships, will be a formidable and compelling combination in the rapidly growing AVOD segment.”
