Cinedigm fuels expansion with Fandor acquisition | Major Businesses | Business
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After a 2020 that saw the streaming channel grow its business aggressively, marking up record ad-based streaming increases, a fourth quarter ad-surge, and a major influx of premium content, Cinedigm Networks has acquired global independent film subscription streaming service Fandor.
Fandor 19Jan2021
Available for around the world for more than a decade and described by the Wall Street Journal as “Netflix for indie film”, the service claims the largest collection of independent films, documentaries, and international features in the market with its catalogue of over 4,600 film titles from more than 400 global and diverse partner film companies. The film offerings range from high-quality studio classics to festival favourites to what are essential award-winning foreign cinema features.

In making its move, Cinedigm says that it is tapping into a $4.8 billion-dollar global market for independent film and plans to use its content library, technology, engineering and distribution capabilities to expand rapidly Fandor’s content offering, relaunch the service’s apps and “dramatically” expand distribution to Cinedigm’s global footprint of over 900 million connected devices. Explaining one of the reasons for the acquisition, Cinedigm said that there was a paradox of the streaming revolution in that it has never been harder to discover classic, essential and new independent and foreign films.

Cinedigm plans to heavily 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. Cinedigm also plans on ramping up new and existing content partnerships with distribution partners from around the globe to make Fandor the preeminent destination for emerging global voices. It will re-launch Keyframe, Fandor’s web and video-based publication dedicated to covering the art of cinema.

In outlining the expectations for Fandor, Cinedigm anticipates it could reach seven figure subscriber levels within the next 24-30 months with a focus on rapid global expansion and distribution. Cinedigm says that it will continue to offer the service ad-free, but also plans to offer a free, ad-supported on-demand tier as well as a linear streaming channel to further broaden the service’s reach to audiences of all viewing preferences.

Phil Hopkins, president of the Film Detective division will oversee Fandor and Keyframe, with the goal of relaunching the service in the coming quarter. Commenting on his role, he said: "The opportunity to leverage Fandor's passionate community of independent film enthusiasts will be integral in the service's growth. 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."