Cinedigm CEO: Goal Is for Cineverse to Add ‘Hundreds of Thousands’ of Titles, Become ‘Spotify of Independent TV’
It’s a good time to be a Cinedigm employee, at least from the tone struck by the company’s CEO on Thursday. In a letter to shareholders, Cinedigm chairman Chris McGurk outlined the company’s success in 2022, and looked ahead to 2023 and beyond in stating the company’s short-term goals.
Cinedigm operates numerous streaming services including Cineverse, a general entertainment service with a focus on global content; Screambox, a dedicated horror service; and Dove Channel, which specializes in faith-based programming. All three have a free tier, and offer users the ability to upgrade to a paid tier with extra features.
Earlier this week, Cinedigm acquired a pair of faith-based online platforms in order to add even more content and functionality to the Dove Channel. As a whole, the company reported 1.2 million paid subscribers in its 2023 fiscal third quarter, which ended in December.
McGurk told shareholders in the letter that he saw enormous growth potential for Dove Channel and similar programming, and that the company would look to make similar acquisitions in the near future. The CEO singled out anime, Asian content, and independent films as genres he thought Cinedigm could make meaningful investments in.
McGurk struck an even more ambitious tone when discussing the amount of content he hoped to see the company stream in the next 30 months. In that time, he said he hoped to see Cineverse add “hundreds of thousands” of new titles. The executive claimed that only around 3% of all global content is available on the major streaming services and that he wanted to provide a place for users to access the other 97% of shows and movies out there, to become “the Spotify of independent film & TV.”
That’s a lofty comparison for any company to aspire to, but Cinedigm has been highly successful so far. The company added 200,000 paid subscribers in its most recent quarter, which is all the more impressive considering how much content it offers for free. Total minutes streamed rose 60% year-over-year during the quarter, now topping out at over 2 billion.
A new partnership with ROW8 will help ensure Cinedigm has the biggest blockbusters available to stream, as well as more independent fare. Cinedigm recently signed a deal with the company that will allow users to rent or purchase new Hollywood movies, including some that are still in theaters.
Cinedigm’s stock price may not be as lofty as its bigger siblings in the streaming industry, but its ambitions are sky-high. If it stays on its current path, the company may exceed even its own brightest dreams for the future.
Cineverse is a free ad-supported video-on-demand service featuring 19,000+ films and TV series. The library includes content from sianCrush, Bloody Disgusting, The Bob Ross Channel, The Country Channel, CONtv, CONtv Anime, Crime Hunters, Docurama, The Dove Channel, The Elvis Presley Channel, Fandor, and Screambox. Subscribers can go ad-free for $2.99/month.
Alongside the VOD library, Cineverse has several FAST channels with an integrated program guide, allowing users to easily browse between channels and access the genres they love. Depending on your platform, the app may be titled “Cinehouse.”
The service will provide content recommendations based on real-time feedback from viewers.
Cineverse will eventually be available as a channel on Amazon Prime Video with a 7-day free trial for the ad-free version.
Screambox is a video streaming service that delivers every type of horror imaginable, from Supernatural to Slashers, Classics, Zombies, Extreme, Psychological, Cult, Underground, Banned Movies, and more. There are also five video series available for non-subscribers to watch for free.
There is a Free with Ads plan, an ad-free Month Premium Plan ($4.99/month), a 6 Month Premium Plan ($14.99), and a Premium Year Plan ($26.99/year).
We recommend adding Screambox as an Amazon Prime Video channel so you can access the content through that platform, as well as the regular Screambox app.
Dove Channel is a streaming service offering family-friendly, usually Christian programming. It also offers a small selection of classic TV shows. Some titles are available for free, while a larger library is available to premium subscribers.
Premium members have access to a Family Filtering tool that allows you to customize your family’s viewing experience based on your values. Select your preferred Dove Ratings and customize your Safeguard settings to create a filtered list of titles.
Dove is available as a linear channel on YouTube TV and Frndly TV.