Digital provider and distrib Cinedigm has partnered with New Video, an aggregate of independent digital content, to acquire and release indie product theatrically, as well as via alternative digital distrib platforms.
Announcement was made Sunday by Cinedigm CEO Chris McGurk and New Video co-prexy Steve Savage.
The Cinedigm-New Video partnership is meant to make both companies more competitive when acquiring product, especially at film festivals like Sundance, where both McGurk and Savage are scouting for product.
Though the deal currently exists as a joint partnership between the two companies, sources close to the deal suggest that Cinedigm is considering folding New Video into its existing infrastructure. That wouldn’t happen for several weeks, however.
“New Video has a strong 20-year track record of creative marketing and innovative release strategies for film and TV,” McGurk said. “Adding in Cinedigm’s quality digital theatrical capabilities to New Video’s proven expertise opens up a unique and advantageous release opportunity for independent filmmakers in all key channels of distribution.”
New Video operates as an aggregate for such companies as Amazon, Apple’s iTunes store, Hulu and Netflix. Cinedigm, meanwhile, has broadened its theatrical footprint with alternative programming, as well as traditional theatrical releases.
“There is opportunity and demand for great independent cinema,” New Video’s Savage said. “We are thrilled to partner with Chris and his entire team to bring enhanced value to the life of a filmmaker’s project.”