Cinedigm hits digital, AVOD highs | Major Businesses | Business | News | Rapid TV News
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After a welter of acquisitions towards the back end of 2020 and the launch of a new services in the last few days, streaming provider Cinedigm is currently tracking 30% year-on-year sales growth, setting records for the company.
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The preliminary results reported for the company’s content sales businesses encompass transactional, subscription and ad-supported revenues.
Transactional revenue was said to have been a driving force behind the company’s digital growth due to a variety of factors including new release and catalogue initiatives with Amazon, Apple and VUDU. Cinedigm said that with more people staying home, and reaching for their remote, transactional revenue grew approximately 39% year over year, exceeding the average industry year over year growth of 34.3%

Cinedigm said it found success with new releases such as The Call with horror veterans Lin Shaye (Insidious) & Tobin Bell (Saw) and gritty war film Battle of the Bulge: Winter War, which became a Top 10 title on Apple upon its release. In addition to transactional revenue, ad-supported revenue has become one of the industry’s fastest growing sectors, and Cinedigm has seen impactful year over year increases in minutes viewed and overall revenue.

Advertising video-on-demand (AVOD) minutes streamed of Cinedigm content on partner platforms was up 89% year over year, exceeding industry year over year minutes streamed, 57% annually according to Nielsen. The company said that such numbers highlight the importance of under-served audiences’ eagerness to find bottomless programming of films and TV series targeting their passions. In addition to Cinedigm own portfolio of streaming networks, AVOD growth came from Tubi, Pluto TV, VUDU-AVOD and Amazon’s IMDB TV.

The release strategy of a new Yu-Gi-Oh series (pictured) , one of the top anime brands in the world, on Pluto TV also contributed to the record breaking AVOD performance. Yu-Gi-Oh’s revenue performance was also attributed to the expansion of the brand to Latin America, another territory seeing an anime resurgence.

Cinedigm said that opportunities for premium content remained strong within the ad-supported streaming space as traditional cable and satellite services continue to lose subscribers. Annual growth was also aided by recently closed AVOD deals with NBC Universal’s Peacock, fuboTV, Plex, Redbox AVOD, and Local Now AVOD.

“Cinedigm is a filmmaker centric studio, focusing on maximising a title’s digital footprint and taking advantage of opportunities in the marketplace to capitalise on forward thinking monetisation strategies,” said Yolanda Macias, chief content officer and head of digital sales at Cinedigm. “As consumers begin to recognise the vast digital resources at their disposal, the digital shift is only going to become more pronounced. Being able to reach viewers, when, how and where they choose to stream is key, and Cinedigm works to customise release strategies with every film or TV series to reach the optimum consumer.”