Cinedigm reports highest quarterly digital sales in five years | Major Businesses | Business
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In yet another case of a streaming firm benefitting from the current stay at home environment, as well as from the accelerating trend of cord-cutting, premium content streaming provider Cinedigm has reported increased viewership across all platforms in its first quarter.
Cinedigm MyTime 30June2020
Indeed, for the three month period ended 30 June 2020, Cinedigm said that it had posted the strongest fiscal Q1 performance in over five years with the driving force for digital growth being the digital transactional space with Amazon and Apple leading the charge.

Digital content revenues were up an estimated 34% year-on-year with strong digital transactions on Amazon and Apple platforms contributing to record-breaking sales. Other key platforms included Vudu, Google, InDemand EST, Hoopla, Microsoft, Sony and Fandango. These contributed to Cinedigm achieving over 60% year-over-year quarterly growth, the strongest performance levels in the company’s history. In the latest addition to growing portfolio of digital-first linear networks, Cinedigm  revealed plans in June to launch in Autumn 2020 MyTime Movie Network, a new female-focused linear streaming channel (pictured).

Content sales were driven by programming such as Hallmark’s When Calls the Heart and ITV’s Good Witch. Cinedigm also enacted various promotional programmes in this stay-at-home environment to accelerate sales of our digital catalogue business. The promotional programs that led the catalogue business to overperform include Spring Sales, Mother’s Day, AnimeMay and June Weddings.

Cinedigm’s partnership with Hoopla achieved a Q1 year-over-year growth of 70%, described as a milestone in the partner relationship. Cinedigm content on Overdrive has attained a Q1 year-over-year growth of 115%, a new benchmark in the history of the partnership.

“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,” commented Cinedigm Entertainment Group executive vice president Yolanda Macias. “All of the existing and new streaming platforms need a high volume of fresh digital content to keep pace competitively and to keep up with the record cord cutting happening around the globe.”

Cinedigm added that it has “leaned into” digital monetisation since its inception offering content providers a path to global reach on streaming platforms. It noted that data and analytics guide its decisions to follow growth trends such as AVOD and the company closed eight new AVOD deals including Redbox, Google and Fuse. Five more expansion deals are in process. Cinedigm said that it was confident that its content was positioned to capture not only the views but also revenues when advertising dollars flowed back into the ecosystem.