August 12, 2015
Cinedigm Announces First Quarter Fiscal 2016 Financial Results Content and Entertainment revenues up 27% vs. prior year quarter
LOS ANGELES--(BUSINESS WIRE)-- Cinedigm Corp. (NASDAQ: CIDM) today announced financial results for the first quarter of fiscal 2016, which ended June 30, 2015.
Financial Summary
Consolidated revenues were $22.8 million, flat from the prior year quarter
Non-deployment (Entertainment and Services) revenues were $11.8 million, an increase of 16% from the prior year quarter
Content and Entertainment revenues increased 27% vs. prior year quarter
Consolidated adjusted EBITDA was $7.8 million, an increase of 7% from the prior year quarter
Non-deployment adjusted EBITDA was a loss of $2.3 million, improving 52% from a loss of $4.8 million in the prior year quarter
Highlights
In aggregate, the Company has over 1.2 million app installs across all OTT channels
CONtv is showing accelerating adoption with nearly 430,000 app installations and continued strong growth each month since its launch
Dove Channel on track to launch in September with over 700 titles and family-friendly premium content lineup
Docurama has over 630,000 app installations
Strong net physical (DVD/Blu-Ray) sales benefited from lower returns and increased retail facings as compared to the prior year quarter
Added a number of promising day-and-date theatrical VOD titles, including award winning A BRAVE HEART: THE LIZZIE VELASQUEZ STORY, THE FALLING with Maisie Williams, FINAL GIRL with Abigail Breslin, MEADOWLAND with Olivia Wilde and Luke Wilson, and LIFE with Robert Pattison
Announced reconfigured Board that includes four new Directors with strong and relevant experience: Blair Westlake, Andy Shuon, Zvi Rhine and Patrick OBrien
Our aggressive early move to establish Cinedigm as a leader in narrowcast OTT has positioned us extremely well as consumers rapidly cord-cut and shift to OTT services, said Chris McGurk, Chairman and CEO. By 2020, the OTT market is projected to be a $20 billion business in North America, far larger than Theatrical or DVD at its peak. While bigger and less flexible entertainment companies are now scrambling to adjust to this seismic industry shift in viewing behavior, Cinedigm is approaching 1.2 million app installations across our channels and will have at least four channels in full operation by the end of this calendar year. We are a leader in the OTT space and are well positioned to aggressively take advantage of this game changing market shift, particularly as large cable, satellite and technology-based content distributors begin to offer new OTT bundling opportunities.
Despite it being our slowest seasonal quarter, Cinedigm experienced solid fiscal first quarter results as we benefited from a strong release schedule and excellent physical and digital retail placement, commented Adam Mizel, Chief Operating Officer. In addition, CONtv continues to make progress as we have nearly 430,000 app installations and completed key enhancements to our technology platform. We are rolling out our SVOD service this week ahead of the upcoming Wizard World Con in Chicago starting August 20th, which is expected to attract over 60,000 people. The Dove Channel launch next month and the progress at Docurama are additional milestones marking our early mover advantage as an OTT leader.
First Quarter Fiscal 2016 Detailed Results
Revenues in our Phase I and Phase II Deployment businesses decreased by 13% compared to the prior period, primarily because there were six blockbuster titles released in the first quarter of the prior fiscal year, compared to three released in the June 30, 2015 period. Revenue generated by our Services segment decreased 12% as a result of the reduced VPFs earned by our Phase I and II deployment businesses. Revenues in our Content & Entertainment segment increased 27%, reflecting increased revenues related to digitally distributed content and significantly fewer product returns compared to the June 2014 period.
Consolidated Adjusted EBITDA was $7.8 million for the three months ended June 30, 2015, an increase of 7% in comparison to $7.3 million for the three months ended June 30, 2014. Adjusted EBITDA from our non-deployment businesses was a loss of $2.3 million during the three months ended June 30, 2015, improving 52% from a loss of $4.8 million for the three months ended June 30, 2014. Adjusted EBITDA improved over the prior period, due to better performance in our Content and Entertainment area. Additionally, direct operating costs were lower as we maintained tight expense discipline.
The Company made principal payments of $28.8 million on our long-term debt arrangements and made repayments (net of borrowings) under our revolving credit facility of $9.2 million in the three months ended June 30, 2015.
We are pleased that net retail sales of physical products and digital sales performed well for us during our seasonally slowest quarter, said Jeffrey Edell, Chief Financial Officer. As we prepare for our peak holiday quarter, our focus is on generating new business, maintaining sell-in and managing returns. In addition, we will continue investing in our OTT business to drive value creation, which will impact non-deployment EBITDA in the near term.
Adjusted EBITDA is defined by the Company for the periods presented to be earnings before interest, taxes, depreciation and amortization, other income, net, stock-based compensation and expenses, restructuring, transition and acquisitions expenses, net, and certain other items. Pursuant to the requirements of Regulation G, the Company has provided a reconciliation in the tables attached to this release of adjusted EBITDA to U.S. GAAP net income (loss). Adjusted EBITDA is not a measurement of financial performance under accounting principles generally accepted in the Unit
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
02/05/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
01/05/2026
January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...
01/04/2026
January 4 2026, 18:00 (PST) DOLBY AND DOUYIN EMPOWER THE NEXT GENERATON OF CREATORS WITH DOLBY VISION
Douyin Users Can Now Create And Share Videos With Stun...
19/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/03/2026
How Chris Bolte Builds the Sound of PlayStation Games Chris Bolte '16 is a technical sound designer at Sucker Punch Productions, where he helps create the...
18/03/2026
Newly named chief product officer (CPO), Larissa G rner Meeus will return to Net Insight on May 4.
Larissa G rner Meeus will become CPO of Net Insight on May 4...
18/03/2026
SVG Europe's The Football Summit 2026 explored how the sports broadcasting i...
18/03/2026
The 2026 NAB Show kicks off one month from today and SVG is once again set to cover the show from every angle. SVG's SportsTech@NAB Show Blog is now live - ...
18/03/2026
(L-R) The cast and crew of Dead Lover at The Ray Theater for its premiere at the 2025 Sundance Film Festival. (Photo by Robin Marshall/Shutterstock for Sundan...
18/03/2026
Yamaha C7 captured in Nashville
Wiltone Productions have announced the release of Music Row Piano, a deeply sampled Yamaha C7 piano library that's been ...
18/03/2026
Bass-enhancement plug-in upgraded
Along with a steady stream of new releases, Techivation have recently been revisiting some of the older plug-ins in their ...
18/03/2026
Mix-reference plug-in overhauled
iZotope's powerful mix-referencing plug-in has just reached its third major version, and now boasts a new capture proce...
18/03/2026
Latest EZKeys 2 expansion arrives
Toontrack's staggering collection of EZKeys 2 expansions has grown once again, and the latest instalment delivers a on...
18/03/2026
Jess Ho explores the politics of food in new SBS Audio podcast For The Culture
18 March, 2026
Media releases
New SBS Audio podcast For The Culture, hosted ...
18/03/2026
Future-ready broadcasts with ATSC 3.0 and enhanced services from Rohde & Schwarz...
18/03/2026
London Calling - When The Industry Convened to Help Streaming Find its MoJo In this blog, Laura Rognoni reflects on key discussions from the Connected TV World...
18/03/2026
SMPTE Unveils 2026 NAB Show Educational Presentations
Brie Clayton March 18, 2026
0 Comments
SMPTE , the home of media professionals, technologists, a...
18/03/2026
Auditel Ad Campaign Shot on Blackmagic PYXIS 12K
Brie Clayton March 18, 2026
0 Comments
LED wall virtual production blends 12K open gate acquisition w...
18/03/2026
Brainstorm transforms productivity and sustainability with Suite 7 at NAB Show 2...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
SMPTE , the home of media professionals, technologists, and engineers, today unveiled its educational presentations for the 2026 NAB Show. This year SMPTE will ...
18/03/2026
Maxon, maker of powerful, approachable software solutions for creators working in 2D and 3D design, motion graphics, visual effects, gaming, and more, today ann...
18/03/2026
Digital Alert Systems
Preview
2026 NAB Show
April 19 - 22
Booth C3452
At the 2026 NAB Show, Digital Alert Systems will showcase Version 6.0 of its DASDEC ...
18/03/2026
Setplex today announced that it will showcase its complete, fully integrated Zapflex platform for the first time at the 2026 NAB Show, introducing powerful new ...
18/03/2026
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE ...
18/03/2026
COW Jobs: Seeking DP for Low Budget Dramedy - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Director of Photography for Low Budget Dramedy Fe...
18/03/2026
COW Jobs: Seeking Gaffer for Low Budget Dramedy - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Gaffer for Low Budget Dramedy Feature Film- I...
18/03/2026
COW Jobs: Seeking Location, Sound for Low Budget Dramedy - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Location/Sound for Low Budget Dramed...
18/03/2026
COW Jobs: Seeking Child Wrangler for Low Budget Film - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Child Wrangler for Low Budget Dramedy Fe...
18/03/2026
Calrec Redefines Broadcast Workflows at NAB 2026 with its Most Powerful Hardware...
18/03/2026
Oscar Nominated Two People Exchanging Saliva Posted with DaVinci Resolve Studio
Brie Clayton March 17, 2026
0 Comments
DaVinci Resolve Studio handle...
18/03/2026
Boston Conservatory Presents Celebrated Musical Satire Urinetown Performances for this Center Stage production will take place at Boston Conservatory Theater ...
18/03/2026
Charlie Puth Joins Switched on Pop at Berklee NYC The Berklee alum spoke with host and Berklee NYC professor Charlie Harding for a live taping, answering audi...
18/03/2026
X-Rite Pantone Demonstrates Advanced Color Management Solutions to Support Smart...
18/03/2026
Wednesday 18 March 2026
BAFTA winner James McAvoy to star in Sky Original serie...
18/03/2026
Wednesday 18 March 2026
Sky Sports and Zuffa Boxing announce multi-year agreement for the UK and Ireland
Sky Sports and Zuffa Boxing have announced a new mult...
18/03/2026
Wednesday 18 March 2026
Sky Unveils Poster and Trailer for Original Feature Fil...
August 12, 2015
