October Ad Revenues Surge 29% Month over Month and 148% Year over Year on Record Advertiser Demand
LOS ANGELES--(BUSINESS WIRE)--Cinedigm (NASDAQ: CIDM) today announced revenues on the company’s ad-supported streaming channels grew 29% from September to October, 2020, setting a new company record. Year over year, October revenues were up more than 148% when compared to October 2019, which was also a company record.
The company’s ad revenue growth has been driven by a dramatic increase in advertiser demand for connected TV ad revenues, which account for more than 96% of all ad impressions generated by Cinedigm. Combined with a rapidly increasing customer base due to stay-at-home guidelines, ad impressions are up more than 570% since the Pandemic began in March 2020.
To ensure ad opportunities are filled, Cinedigm has also focused on scaling the total number of advertising supply side platforms (“SSPs”) reaching the company’s inventory, and added 25 new ad partners alone in October.
“Cinedigm is in the perfect position to take advantage of the great shift of ad dollars from Cable to streaming,” Said Erick Opeka, President of Cinedigm Networks. “Major national brand advertisers have woken up to the power of targeted digital advertising in the living room, and our portfolio of premium enthusiast networks delivers the audiences and engagement that is increasingly difficult to reach on legacy television.”
To continue the current ad revenue growth trajectory, Cinedigm plans to further expand the launch of new networks, with 15 new channels signed to launch over the next twelve months. The company is also planning to expand its ad-supported device footprint beyond the current 850 million device base, through the addition of additional high quality partnerships alongside key partners like Samsung, PlutoTV, IMDBtv, Vizio and dozens more.
For more than twenty years, Cinedigm (NASDAQ: CIDM) has led the digital transformation of the entertainment industry. Today, Cinedigm entertains hundreds of millions of consumers around the globe by providing premium content, streaming channels and technology services to the world’s largest media, technology and retail companies. For more information, visit http://www.cinedigm.com/.
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