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Cinedigm Reports Improved Results Amid Expansion

Heralding an expansion of digital networks, Cinedigm Corp. has reported a 32% jump in revenues to $31.3 million for its third quarter ended Dec. 31 from the prior quarter.

The company, which will soon launch ConTV and the Dove Movie Channel, reported a 27% rise in adjusted EBITDA of $15.7 million.

Both results were above Wall Street estimates.

“We are pleased with this quarter’s results,” said chairman-CEO Chris McGurk. “Our release pipeline continues to fill with original, cast-driven films that can be leveraged across all our platforms, from theatrical to digital to the emerging OTT channels. Our OTT business is accelerating with ConTV launching March 3 and our faith and family Dove Entertainment Channel scheduled for launch in summer 2015.”

Cinedigm noted that during the last 12 months, it has signed new distribution deals for 74 original, cast-driven films with partners including the Asylum, American International Pictures, Great Point Media, Brand Entertainment and Moguldom.

ConTV, in partnership with Wizard World Comic Con, is scheduled to launch on March 3 with nearly 1,500 hours of premium content, original series and Comic Con footage.

Cinedigm recently announced it was launching a reinvention of American International Pictures exploitation titles including “Girls in Prison” and “The Brain Eaters” in a 10-picture project within a single movie universe.

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