Cineverse

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Cineverse
Public
Traded as NASDAQ: CNVS
Russell Microcap Index component
Industry Entertainment
Founded 2000; 24 years ago (2000)
Founders Bud Mayo
Headquarters Los Angeles, California &
New York City, New York
Key people
 Chris McGurk, Chairman and CEO
Gary Loffredo, President
Erick Opeka, Chief Strategy Officer
Products Motion Pictures, Entertainment, Video on demand, Digital distribution, Film distribution
Subsidiaries Bloody Disgusting
CONtv
The Dove Channel
The Film Detective
Gaiam Vivendi Entertainment
SD Entertainment
Shout! Factory (Minority stake)
Website cineverse.com

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]

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References

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  43. ↑ Cineverse - Your Ticket to a World of Entertainment Delights _ On-Demand Content & Free Linear Channels

External links

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