Cineverse Explained

Cineverse Corp.
Former Name:Access IT Digital Media, Inc. (2000–2013)
Cinedigm (2013–2023)
Type:Public
Traded As:NASDAQ:
Russell Microcap Index component
Founders:Bud Mayo
Location City:Los Angeles, California &<br>New York City, New York
Key People:Chris McGurk (chairman and CEO)
Gary Loffredo (president
Erick Opeka (Chief strategy officer)
Subsid:Bloody Disgusting
Midnight Pulp
The Dove Channel
The Film Detective
New Video
SD Entertainment
Shout! Studios (minority stake)
Industry:Entertainment
Products:Motion pictures
Entertainment
Video on demand
Digital distribution
Film distribution

Cineverse Corp. (originally Access IT Digital Media, Inc., and later, Cinedigm) is an American entertainment company headquartered in Los Angeles, California. Cineverse’s businesses encompass digital cinema, streaming channels, content marketing, and distribution.[1] [2]

History

Early years

The company was founded in 2000, under the name Access IT Digital Media, Inc., through a group led by Bud Mayo. Mayo served as director until his retirement in 2010, and subsequently founded Digital Cinema Destinations Corp. In September 2013, the company changed its name to Cinedigm Corp.[3] In January 2011, Chris McGurk became the new chairman and CEO.[4]

In July 2011, the company sold its physical and electronic distribution business to Technicolor.[5] The following month, Screenvision acquired UniqueScreen Media, Inc. (USM), the cinema advertising division of Cinedigm Digital Cinema Corp. The companies entered into a long-term agreement, with Cinedigm providing distribution and promotion for Screenvision.[6]

In April 2012, the company acquired distributor New Video.[7]

In October 2013, the company acquired Gaiam Vivendi Entertainment.[8]

In May 2014, Cinedigm established Docurama, an OTT documentary channel,[9] [10] [11] [12] [13] [14] focused on documentaries and film festival coverage.[15] [16] Later that year, Jeffrey Edell would join as CFO,[17] and the company began trading on the NASDAQ under the ticker symbol.[18]

Expansion into Video on Demand

In February 2015, Cinedigm and Wizard World launched CONtv.[19] [20] In June of that year, Cinedigm would acquire a minority stake in Shout! Factory.[21] Finally, in September, Cinedigm partnered with The Dove Foundation to create The Dove Channel, an online streaming service focusing on faith-based programming.[22]

In December 2017, control of Cinedigm was given to Bison Capital of Hong Kong to start one of the first China-U.S Studios.[23]

On February 5, 2019, Cinedigm acquired streaming service Viewster and its Viewster Anime subsidiary.[24] Viewster would eventually merge with CONtv and rebrand as CONtv Anime on June 13, 2020.[25] [26] [27]

In April of that year, Cinedigm licensed content from Chinese firms CCTV, China Lion, Starrise Media and Youku, in order to launch an entertainment and film service called Bambu; the service would launch on October 22, 2019.[28] [29] [30] [31]

In 2020, Cinedigm acquired The Film Detective.[32]

In February 2021, Cinedigm acquired the horror-genre streaming service, Screambox.[33] Later that year, on September 21, 2021, Cinedigm acquired Bloody Disgusting. As part of the acquisition, Screambox would be relaunched under the curation and management of Bloody Disgusting.[34]

In August 2021, Cinedigm announced a partnership with Robert Rodriguez to relaunch the former cable and satellite-based El Rey Network as a streaming channel.[35] [36] [37]

In December 2021, Cinedigm signed a deal with SideStream, a live video streaming service.[38]

In March 2022, Cinedigm acquired streaming, advertising and distribution company, Digital Media Rights; including the ad-supported streaming services Cinehouse (originally known as YuYu), AsianCrush, RetroCrush, Midnight Pulp, Cocoro (now discontinued), and KMTV.[39]

Cineverse launch and rebranding

On September 15, 2022, Cinedigm launched Cineverse, marketed as the company's flagship streaming service, featuring programming from across its AVOD (ad-supported video on demand) and FAST (free, ad-supported, television) brands.[40]

In May 2023, the company rebranded to Cineverse Corp. and began trading on NASDAQ under CNVS. The company stated that it was an "important step forward" in its "evolution into a streaming content and technology company".[41]

In June 2023, Cineverse announced that it would signed a content deal with Sid and Marty Krofft Pictures, allowing it to acquire the worldwide digital distribution rights to its library of shows, with the exceptions of The Brady Bunch Hour (owned by Paramount Television, now part of CBS Media Ventures), D.C. Follies (owned by Amazon MGM Studios) and Mutt & Stuff (owned by Paramount Media Networks under the Nick Jr. brand) and they would launch a VOD channel, called the Sid and Marty Krofft Channel on February 5, 2024.[42]

Television and streaming

Cineverse owns or programs the following brands for either its namesake streaming service, or standalone services and apps, as of 2023.[43]

Notes and References

  1. Web site: Cinedigm Stock Soars . October 18, 2013 . indiewire.com . April 5, 2014.
  2. Web site: Cinedigm Set to Become Top Theatrical Home Video Distributor. October 17, 2013. The Hollywood Reporter. April 5, 2014.
  3. Web site: Bud Mayo . https://archive.today/20140405203508/http://opportunistmagazine.com/bud-mayo-name/ . dead . April 5, 2014 . Opportunist Magazine . April 5, 2014.
  4. Web site: Cinedigm Digital Cinema Names Chris McGurk Chairman and CEO . Bloomberg . April 5, 2014 . https://web.archive.org/web/20140407071226/http://www.bloomberg.com/apps/news?pid=newsarchive&sid=av6rcMFaqZjk . April 7, 2014 . dead .
  5. Web site: Technicolor Acquiring Cinedigm's Digital Cinema Delivery Assets . The Hollywood Reporter . July 27, 2011 . April 5, 2014.
  6. Web site: Cinedigm sells cinema ad unit to Screenvision . https://web.archive.org/web/20150924001129/http://www.businessweek.com/ap/financialnews/D9PFU3082.htm . dead . September 24, 2015 . BusinessWeek . September 1, 2011 . April 5, 2014.
  7. Web site: Lieberman. David . Cinedigm Agrees To Buy New Video Group . April 20, 2012 . Deadline . April 5, 2014.
  8. Web site: Cinedigm Stock Soars After It Acquires Gaiam Vivendi | Filmmakers, Film Industry, Film Festivals, Awards & Movie Reviews . October 18, 2013 . Indiewire . April 5, 2014.
  9. Web site: Docurama Releases iPad and iPhone App. Market Watch. May 18, 2015.
  10. Web site: Flush with New Cash Historically Film Focused Cinedigm Cut to Streaming Future. Forbes. May 18, 2015.
  11. Web site: Cinedigm Launches Theater Series. April 2013. Hollywood Reporter. May 18, 2015.
  12. Web site: Cinedigm Launches Docurama. The Video Ink. May 16, 2015. https://web.archive.org/web/20150509214406/http://www.thevideoink.com/news/distributor-cinedigm-launches-docurama-first-consumer-facing-ott-channel/. May 9, 2015. dead.
  13. Web site: Docurama Streams Free On-Demand Documentaries. CNET . May 16, 2015.
  14. Web site: Cinedigm's Documentary Arm Announces Brand Expansion and Streaming App. April 2, 2013. Deadline. May 16, 2015.
  15. News: Documentary Channel Aims at Underserved Audience. The New York Times. May 5, 2014. May 16, 2015. Cieply. Michael.
  16. Web site: Catching Up with Susan Margolin on Docurama. June 4, 2014. May 16, 2015.
  17. Web site: Jeffrey Edell Joins Cinedigm as CFO. Alex Ben. Block. . June 9, 2014.
  18. Web site: Cinedigm, Wizard World to Create Digital Channel | Los Angeles Business Journal. labusinessjournal.com. February 12, 2014 .
  19. Web site: CONtv Announces Film and Television Programming. February 5, 2015.
  20. Web site: Cinedigm Signs 12 Picture Deal. February 5, 2015. https://web.archive.org/web/20150208014141/http://www.heraldonline.com/2015/01/28/6744538/cinedigm-signs-12-picture-deal.html. February 8, 2015. dead.
  21. News: Lang, Brent. Cinedigm Takes Minority Position in Shout! Factory. Variety. June 25, 2015.
  22. Web site: Todd. Spangler. Cinedigm Launches Dove Channel SVOD Service That Strips Out Sex, Drugs and Violence. Variety. September 16, 2015. Variety Media. November 9, 2015.
  23. Web site: Cinedigm Sells Majority Ownership Stake to Hong Kong's Bison Capital in $40 Million Deal. Todd. Spangler. June 29, 2017.
  24. Web site: Ressler. Karen. Cinedigm Finalizes Viewster, Viewster Anime Acquisition. Anime News Network. March 5, 2019.
  25. Web site: Cinedigm Finalizes Viewster, Viewster Anime Acquisition.
  26. Web site: Cinedigm Announces Global CONtv Anime Network. June 8, 2020.
  27. Web site: Cinedigm Launches Linear Streaming Network CONtv Anime.
  28. Web site: Cinedigm Sets June Date for Bambu Channel Launch, Partners With Future Today. Rebecca. Davis. April 12, 2019.
  29. Web site: Bambu – Media Play News.
  30. Web site: Cinedigm's Chinese Entertainment Channel BAMBU Launches Today on CONtv. Cinedigm Digital Cinema. Corp. October 22, 2019. GlobeNewswire News Room.
  31. Web site: Bambu set for OTT distribution on Future Today | VOD | News | Rapid TV News. www.rapidtvnews.com.
  32. Web site: McNary. Dave. Cinedigm Buys Vintage Network The Film Detective. Variety. December 19, 2020. October 19, 2020.
  33. Web site: Cinedigm Acquires Horror Streaming Service Screambox (Exclusive). February 12, 2021. Deadline. October 26, 2021.
  34. Web site: Cinedigm Slashes Its Way to the Forefront of Horror Streaming with Latest Acquisition: Bloody Disgusting - the Leading Source of All Things Horror.
  35. News: Robert Rodriguez's El Rey Network to revive through streaming after going dark. Faughnder. Ryan. August 6, 2021. LA Times. August 7, 2021.
  36. News: Robert Rodriguez's El Rey Network Cable Channel to Be Rebooted for Streaming With Cinedigm. Spangler. Todd. August 6, 2021. Variety. August 7, 2021.
  37. Web site: Robert Rodriguez's El Rey Network Segues From Cable TV To Streaming In Deal With Cinedigm. Hayes. Dade. August 6, 2021. Deadline. August 7, 2021.
  38. Web site: Cinedigm Signs Deal With Live Video Streaming Service SideStream. December 8, 2021. finance.yahoo.com. en-US.
  39. Web site: Ago . 4 Hours . March 30, 2022 . Cinedigm to acquire Digital Media Rights in US$16.4 million deal . March 30, 2022 . Digital TV Europe . en-GB.
  40. Web site: Ago . 4 Hours . September 15, 2022 . Cinedigm Debuts Cineverse, a Next-Generation Streaming Service. September 25, 2022 . Accesswire.
  41. Web site: Cinedigm Changes Name to Cineverse. Todd . Spangler. Variety. May 22, 2023. May 22, 2023.
  42. Cineverse to Launch Sid and Marty Krofft Channel. Cineverse. PR Newswire. June 1, 2023.
  43. https://www.cineverse.com/ Cineverse - Your Ticket to a World of Entertainment Delights _ On-Demand Content & Free Linear Channels

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