Cinedigm Corp (NASDAQ: CIDM) stock is screaming for the top in the market this morning, following up on the strong gains we saw from the stock yesterday. The gains come after the company announced its streaming channels have launched on Rad, which will help increase audience, and ultimately, revenue. Here’s what’s happening:
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CIDM Stock Pops On Potential Significant Revenue Growth
As mentioned above, Cinedigm is screaming for the top in the market this morning, following up on the more than 7% gains seen yesterday. The gains started when the company announced that its streaming channels, including Bambu, Bloody Disgusting, Comedy Dynamics, CONtv Anime, Docurama, So… Real, and Whistle TV have launched on Rad.
Rad, formerly known as Littlstar, is one of the fastest growing streaming services in the United States and around the world. CIDM explained that the company is a leading provider of premium streaming film & television content to the gaming ecosystem. In fact, Rad reaches more than 110 million Sony PlayStation consoles as well as hundreds of millions of additional streaming devices. Some of the most popular include Android TVs, iOS, and Android Mobile Devices.
In the release, CIDM said that Rad has launched the following channels:
- Bambu – The 1st network for top Chinese entertainment. Way more than Kung-Fu flicks! Check out top Chinese serial dramas, rom-coms, action, sci-fi and game shows.
- Bloody Disgusting – the first and only free source for premium horror content, targeting genre enthusiasts and casual viewers alike
- Comedy Dynamics – The largest collection of stand-up comedy! It’s a no drink minimum show 24/7, with the top names of comedy in new & classic performances.
- CONtv – Waste the best years of your life on hours of pop culture essentials: enigmatic sci-fi, fantasy, horror, cringe-worth grindhouse and retro film & TV series.
- CONtv Anime – Meeting the needs of anime fans with a wide range of iconic anime series & movies… cyberpunk, supernatural tales, gripping dramas and epic fantasy adventures!
- Docurama – The first network dedicated solely to documentary and factual entertainment. Enjoy full-length feature films & TV series spanning arts, politics, science, music & history.
- So… Real – Featuring the best in British non-fiction and reality series
- Whistle TV – Whistle Sports unites top athletes, influencers and celebrities in a frenzied assembly of short, scripted and episodic content.
In a statement, Tony Mugavero, Co-Founder and CEO at Rad, had the following to offer:
Cinedigm has continued to prove that they are building the best content library and programming for the next generation of viewers, and it’s incredibly exciting to see this platform partnership come to fruition. Rad’s launch on PlayStation 5 and Android TVs this holiday season, along with Watch Parties, create a first of its kind marriage of content and technology for new audiences.
The above statement was followed up by Erick Opeka, President at CIDM, here’s what he had to say:
Rad exemplifies exactly what we look for in a platform distribution partner. Between their unique reach on 110 million gaming consoles, extensive premium content, and an innovative discovery and viewing experience, they are the perfect home for our growing stable of enthusiast networks.
Finally, Tony Huidor, General Manager of Digital Networks at CIDM, said:
Cinedigm continues to focus on bringing well-established brands and film & television content from leading content owners into the rapidly growing free ad-supported television marketplace. Consumer interest in premium content remains extremely strong within the OTT ad-supported space as traditional cable and satellite services continue to lose subscribers seeking low-cost alternatives and new and better options for their entertainment needs. That’s what Cinedigm and Rad are delivering now.
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This Is Big News
The news released by Cinedigm yesterday proved to be overwhelmingly positive. Think about it, Rad is a massive streaming content provider, reaching hundreds of millions of users every day. By adding its networks to Rad, CIDM has access to a much larger audience, opening the door to significant revenue growth. What more could you ask for.
All in all, CIDM stock is one that’s well worth watching.
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