Cinedigm Reports Over 1 Million Paid Streaming Subscribers; Plans to Add More Titles

Cinedigm released its most recent quarterly earnings report this week, and the news was generally good for the company and its niche streaming services Cineverse and Screambox. Cinedigm did not report numbers for its streaming services separately, but it did announce that it grew to 1.06 million new subscribers last quarter collectively, marking a year-over-year increase of 48%.

Overall, the company saw its total minutes streamed rise to 2.17 billion in the quarter, up 78% over the same period in 2021. Across the ad-supported tiers of Cineverse and Screambox, Cinedigm averaged 81.9 million monthly viewers, a jump of 149% over the previous quarter.

Cinedigm did not report total subscriber numbers, but it’s a good bet the company is well behind the figures released by streaming giants like Netflix (223M global subscribers) or Disney (235.7M global users across its three services).

However, it would be more appropriate to compare Cinedigm’s services to smaller services, like the AMC family of streaming platforms. AMC reported having 11.1M users across AMC+, Acorn TV, ALLBLK, Shudder and Sundance Now last quarter. AMC has a head start on Cinedigm in the streaming wars, but it’s likely that Cinedigm sees 10M subscribers as an achievable goal over the next few years considering its recent launch and rapid expansion.

The company is on the way to that total thanks to the launch of its flagship streaming service Cineverse in September. Cineverse brought the many streaming channels owned by Cinedigm onto one platform, powered by Matchpoint Blueprint 2.0 software. The software provides the company with a streamlined way to release full-featured content over every major platform and allows Cineverse customers to access its genre-specific free ad-supported TV (FAST) channels and 50,000 video-on-demand options.

Those on-demand options are also likely to expand soon. Cinedigm wants to expand its on-demand library across its streaming services to at least 75,000 titles over the next two to four years, according to its quarterly financial statement.

Cinedigm hasn’t wasted any time in adding features to Cineverse following its September debut either. Most recently, the company announced a deal with ROW8 to offer premium movie rentals on Cineverse. Without the hassle of an extra subscription fee, Cineverse users can now rent tons of new movies, even titles that are still in theaters. Cinedigm has also been working to extend the reach of Cineverse, striking a deal with Samsung to bring the Cineverse app to Samsung Smart TVs.

Despite the push to get its newest service in front of as many viewers as possible, Cinedigm hasn’t neglected Screambox, its horror-centric streaming service. The company recently launched an update to Screambox, which included a new user interface, alongside its newest original film “Terrifier 2.”

Both Screambox and Cineverse offer tiered pricing, so customers can tailor their subscriptions to meet their budgets. There is a free, ad-supported video-on-demand (AVOD) plan on both services. Cineverse offers an ad-free plan for $2.99 per month, and Screambox offers an ad-free monthly premium plan ($4.99 per month), a three-month premium plan ($11.99), and a premium annual plan ($39.99 per year).