Cinedigm Agrees to Acquire Digital Media Rights | Large companies | Business | News
Key channels include AsianCrush, a one-stop portal to the latest Asian entertainment featuring premium movies and shows; Midnight Pulp which is a late night channel to end the boredom, offering a cleverly curated selection of cult shows with a touch of millennial irreverence; RetroCrush, dedicated to the golden age of anime; and Cinehouse, both a standalone channel with apps available on all major devices, as well as a linear TV streaming package, a curation niche, passionate channels focused on the best movies and TV shows from around the world; Cocoro, a destination of kid-friendly shows designed to educate and entertain; and KMTV featuring everything K-Pop has to offer, from music videos for the latest releases, to highlights from variety shows, and everything in between.
DMR also runs social video channels for most of the above brands, as well as four more, with more in development: C-Crush: a community for fans of the best Chinese movies and TV series; Cinehouse Romance, a curated selection of romance-focused clips from DMR’s arthouse and independent film library; K-Crush, a community for Korean film, TV and pop culture junkies; QTTV queer cinema community.
DMR’s advertising network and marketplace generated over 100 million Connected TV impressions per month against long-running premium movies and TV shows on their partner channels owned and operated and selected with a rate of average ad completion greater than 95%.
Once the deal is done, Cinedigm will grow its library to over 46,000 hours of premium film and television content, with approximately 40 million monthly viewers, 18.5 million social subscribers, 4 billion views and 13 billion minutes views per year. With the addition of the seven new proprietary channels, the company will have 15 wholly owned streaming services, which now represent more than 50% of its 28 operating channels.
In particular, the deal will see that Cinedigm’s content portfolio aims to meet growing consumer demand for Asian-influenced media, such as Japanese anime and Korean dramas. Cinedigm plans to use the new content portfolio to improve and expand its existing streaming services.
Cinedigm also plans to further expand DMR’s advertising network, which has long-standing customers and direct partnerships with key advertising partners, using the company’s strong programmatic ad sales infrastructure. In conjunction with Cinedigm’s continued investment in supply chain technology and automation through the company’s proprietary Matchpoint platform, lowering DMR’s operating costs and driving revenue growth.
Finally, Cinedigm plans to leverage DMR’s premier social media division to increase engagement and followers of Cinedigm’s streaming channels on major social media platforms. DMR Social has a footprint of over 17 million subscribers and followers on YouTube and Facebook alone, across eight brands that average 284 million videos viewed per month – and over 8 million hours watched – over the course of of the last year.
“DMR’s premier leadership team, premium channels and film and television library perfectly complement our own strengths and mission to serve a passionate audience,” said Chris McGurk, President and CEO of Cinedigm, commenting on the deal. “When you consider the other key add-on elements of this deal, including the global reach of DMR’s extensive social media efforts, we are well positioned to not only reach a new and rapidly growing audience in the short term, but also to expand the scale of a broader long-term Cinedigm umbrella channel strategy. We expect this acquisition to be immediately accretive, and the leverage of Cinedigm’s technological efficiencies and large portfolio of assets will drive significant additional growth.
“The strong synergy between Cinedigm and DMR is evident, and by working together we can continue to deliver and further develop our premier and curated streaming channels to our audience in a way that creates a true sense of community,” added David Chu, co-founder and CEO of DMR. “The DMR team is proud to have built an impressive lineup of channels and to deliver content that can meet the growing demands of audiences around the world, including fans of incredibly popular Korean dramas, Japanese Anime, and Chinese TV. , as well as auteur, romance and horror films “That is why we are delighted to align with this key industry player and look forward to a future with even more opportunities for expansion.” “