Stock News Buzz: Cinedigm Corp. (NASDAQ:CIDM)

On Friday, Cinedigm Corp. (NASDAQ:CIDM) stock traded volume of 0 shares during its last trading session as compared to its average volume of 33906 shares over the recent month. CIDM ended its day with the up stream along the move of 0% and closed at the price of $0.85 before opening at $0.9. It has total market capitalization is $33735973.52 week range of the stock remained $ 0.48 – 2.06 while its day lowest price was $0.85 and its hit its day highest price at $0.91

On Nov. 14, 2019, Cinedigm Corp. (NASDAQ:CIDM) declared its financial results for the three- and six-month periods ended September 30, 2019.

Key Second Quarter FY 2020 Financial Results:

  • Consolidated revenues were $10.2 million

o          Overall OTT/streaming revenues were $3.1 million, up 35% year-over-year

o          Strong OTT Channel revenues, particularly Advertising Video on Demand (AVOD) revenues, drove the majority of this growth.

  • Net loss to common stockholders of $3.2 million, an improvement of 11% year-over-year
  • Adjusted EBITDA of $1.4 million
  • Debt has been reduced $8.3m in the quarter and $13.6m year to date

 

Key Business Highlights:

 

  • Expanded strategic alliance with Starrise Media to release films in China theatrically, via broadcast television and to digital platforms.
  • Reached an estimated 4.5 million monthly active ad-supported viewers across Cinedigm’s digital networks distributed via linear Free Ad-supported TV (FAST) and AVOD viewers in September 2019, up 77% since the beginning of the fiscal year.
  • Achieved over 398% YoY growth of ad-supported viewer base across FAST and ad-supported video on demand platforms.
  • Reached approximately 2.7 million monthly active viewers across five live networks with FAST linear channel delivery.
  • Reached approximately 1.8 million monthly active viewers across four live channels on partners with AVOD channel delivery.
  • Increased highly valuable, connected TV ad requests to 83% of overall inventory mix.
  • Added five new ad demand partners.
  • Added key scale distribution partners including Sinclair Broadcast Group, Samsung, Comcast Xfinity, Roku, and Vizio in the fiscal year.

Leave a Reply

Your email address will not be published. Required fields are marked *