Touting an expansion of digital networks, Cinedigm Corp. has reported a 23% jump in revenues to $23.7 million for its second quarter ended Sept. 30.
The company, which will soon launch ConTV and The Dove Movie Channel, reported earnings after the stock market closed Thursday.
Consolidated adjusted EBITDA increased 11% to $12.4 million and non-deployment revenues, covering entertainment and services, increased 77% to $11.9 million.
“We are pleased with this quarter’s results,” said Chris McGurk, Chairman and CEO. “The transition issues that negatively impacted our results last quarter are now behind us. Although this quarter is seasonally slow, our operational focus resulted in a nice rebound in our non-deployment base business performance versus last quarter.”
Cinedigm noted that it has signed 35 new distribution deals this year. It also said it had successfully managed one of its largest ever DVD releases for “God’s Not Dead” with results exceeding sales expectations, including more than 1 million units shipped to retail.
Cinedigm said that CONtv, in partnership with Wizard World Comic Con, is on schedule to launch early next year with over 1,500 hours of content, original series and Comic Con footage already secured.
It also said The Dove Channel is set to launch in the spring through a partnership with The Dove Foundation, targeted to families seeking family-friendly and faith-based content.