Cinedigm announced today its Q1 2021 (April 1, 2020 through June 30, 2020, for this company) and reported is strongest fiscal performance in its five years in the streaming world. Cinedigm notes that stay at home orders and an overall increase in streaming as the drivers of increased viewership.
“We have been laser focused on aggregating and distributing thousands of titles to the key streaming platforms like Netflix, Apple and Amazon given the huge demand for independent premium content we are seeing from both existing and newly launched platforms,” said Yolanda Macias, Executive Vice President, Cinedigm Entertainment Group. “All of the existing and new streaming platforms need a high volume of fresh digital content to keep pace competitively and to keep up with the record cord cutting happening around the globe. As expected in this environment, we generated over an estimated 34% year-over-year growth in our digital content sales in the first quarter of Cinedigm’s fiscal year, which ended on June 30, 2020.”
The driving force for the digital growth is the digital transactional space with Amazon and Apple leading the charge, according to Cinedigm. The platform has also been airing next day releases of shows including Hallmark’s When Calls the Heart and ITV’s Good Witch, along with promotions including Spring Sales, Mother’s Day, AnimeMay and June Weddings.
“Cinedigm Digital is positioned to offer producers and film makers robust and unique revenue opportunities and these results confirm their confidence in us,” continued Macias. “At the same time, our distribution platform partners rely on Cinedigm to provide entertaining and compelling content to their viewers, and the data indicates we delivered. We expect to continue these strong results going forward as our relationships with content producers and streaming content distribution platforms continue to get stronger and expand.”
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