Cinedigm Network has seen a surge in subscriber growth, boosting its paid subscriber count to more than 142,000. That’s up 45% since the beginning of the fiscal year. The Network also boasts a reach of 15.2 million ad-supported users monthly, an audience it’s able to leverage and turn into new subscribers.
“This rapid growth illustrates the success of our ‘freemium’ model,” said Erick Opeka, President of Cinedigm Networks. “Users can discover and enjoy our free networks across hundreds of millions of devices, and with savvy marketing and advertising we convert the most passionate of those viewers into long-term paid subscribers who want commercial-free and exclusive content. Cinedigm is one of the few public streaming companies that generates users, subscribers, and revenues from all major streaming business models. At this level, we estimate a stream of over $4 million per year in high margin subscriber revenues in addition to our digital advertising and licensing revenues.”
The network’s main focus is on expanding its subscriber base with some pretty lofty goals as far as numbers are concerned. Cinedigm is also looking into expanding internationally in both paid and free services.
“Our goal is to more than double our paying subscriber base to 290,000 subscribers over the intermediate term through expanded distribution, marketing and new content deals for high-quality programming,” said Opeka, who added: “We also plan to continue to execute our accretive roll-up strategy of profitable streaming companies like our acquisitions of Viewster and Film Detective where we can leverage our extensive expertise, proprietary technology capabilities and distribution muscle to quickly increase monetization and viewership while cutting operating costs.”
Cinedigm’s top growing Network is its flagship CONtv, which is up 78% in paid subscribers since April 1, 2020. A big part of its growth can be attributed to the relaunch on Vizio and Roku, as well as last year’s acquisition of ComicBlitz, adding more than 10,000 digital comics to the network. Other popular networks include Viewster Anime, The Dove Channel, and premium documentary service Docurama.