November 19, 2015Cinedigm Takes Majority Interest in CONtv Wizard World remains active convention and marketing partner
LOS ANGELES--(BUSINESS WIRE)-- Cinedigm Corp. (NASDAQ: CIDM) announced today that on November 16, 2015 the Company entered an agreement with Wizard World to take ownership of 85% of CONtv, with Wizard World retaining 10% interest. Previously, Wizard World had 42.5% interest in CONtv. Wizard World will remain an event and marketing partner for the OTT channel dedicated to all things fandom.
This move reinforces Cinedigms focus on building and owning multiple over-the-top digital channels. In addition to CONtv, Cinedigm owns and operates DOCURAMA, a documentary channel with over 800 documentaries and more than 600 thousand installations on Roku and other platforms. DOCURAMA is launching a subscription service in the next few weeks. Cinedigm also operates the DOVE CHANNEL, a subscription service targeted to families and kids seeking high quality and family friendly content approved by Dove Foundation. Since its launch on September 15, DOVE CHANNEL has over 191,000 installations on Android, iOS and Roku, and more than 53,000 registered users.
Recently, Cinedigm announced CONtv has nearly 600,000 App downloads across a broad spectrum of connected devices including Roku Players and Roku TV models, Android and Mac iOS, Samsung Smart TV, the web, and mobile and tablet devices. Cinedigm also announced it has a signed agreement with a major distribution partner to bring the three channels to their platform. The official announcement has not yet been made by the partner.
Earlier this month, CONtv announced that the service would focus heavily on live and exclusive content, much of it produced at Comic Cons and fandom events across the nation, including streaming panels, interviews, Cosplay events and more. This focus, combined with a $4.99 per month price point, positions the channel as the premiere VIP experience for Comic Cons and fan events at any time available everywhere on preferred devices.
We appreciate all that Wizard World brings to CONtv - from exclusive event access to marketing support to their legions of followers, said Chris McGurk, Chairman and CEO, Cinedigm. Going forward, we all agreed it makes sense for our companies to focus on what we do best For Cinedigm that is running OTT channels, and for Wizard World its all about putting on top notch events and conventions. We look forward to our continuing partnership with John and his team.
We remain extremely supportive of Cinedigm and CONtv and look forward to helping them grow with access to exclusive events and content generated at all of our Comic Cons next year, said John Macaluso, CEO of Wizard World.
Catering to Comic Con attendees, voracious entertainment enthusiasts and super fans, CONtv currently boasts 2,500 hours of original programming. With curated films and TV episodes as well as exclusive Comic Con panel coverage from dozens of annual nationwide conventions and original episodic series, CONtv adds new programming to the service weekly. Spanning star studded panels with pop culture heroes such as William Shatner (Star Trek), Lou Ferrigno (The Incredible Hulk), and Bruce Campbell (The Evil Dead, the forthcoming series Ash vs Evil Dead), to the best in cosplay, creator workshops, Con after hours events, and more, CONtv is the only service to offer Comic Con event coverage alongside premium feature film, television, and original programming curated for the fan community.
Cinedigm is leveraging its library of programming rights, infrastructure, technology and distribution expertise to rapidly become a leader in the quickly evolving over-the-top digital network business. Cinedigms first channel, DOCURAMA, launched in May 2014 and CONtv premiered in early 2015. Cinedigms third OTT channel, DOVE CHANNEL, launched in early Fall 2015 targeted at families and children seeking high quality and family friendly content approved by Dove Foundation.
About CONtv
CONtv is a new digital entertainment network devoted exclusively to the fanspace that provides audiences access to thousands of hours of content showcasing an original slate of programming, as well as an eclectic catalog of over 1,200 must-watch titles. Everything from quirky original series, elusive cult films & television shows, celebrated genre movies encompassing sci-fi, horror, fantasy, anime, grindhouse, martial arts action, to exclusive live coverage of Comic Con events nationwide, all available on-demand either in a free, ad-supported format or a subscription-based model for premium content. Together, they provide an unrivalled hub of content, community and conventions across the broad spectrum of devices including Android and Mac iOS, Samsung Smart TV, the web, and mobile and tablet devices. For more information, visit CONtv.com.
About Cinedigm
Cinedigm is a leading independent content distributor in the United States, with direct relationships with thousands of physical retail storefronts and digital platforms, including Wal-Mart, Target, iTunes, Netflix, and Amazon, as well as the national Video on Demand platform on cable television. The companys library of films and TV episodes encompasses award-winning documentaries from Docurama Films , next-gen Indies from Flatiron Film Company , acclaimed independent films and festival picks through partnerships with the Sundance Institute and Tribeca Films and a wide range of content from brand name suppliers, including National Geographic, Discovery, Scholastic, NFL, Shout Factory, Hallmark, Jim Henson and more.
Additionally, given Cinedigms infrastructure, technology, content and distribution expertise, the Company has rapidly become a leader in the quickly evolving over-the-top digital network business.
Cinedigm and Cinedigm Digital Cinema Corp are trademarks of Cinedigm C
