×
You will be redirected back to your article in seconds

Cinedigm to Acquire ComicBlitz Digital Comic-Book Service

Cinedigm reached a deal to acquire ComicBlitz, a startup billed as a “Netflix of digital comic books,” launching the content-distribution company into a new line of business.

Financial terms of the deal weren’t disclosed. Cinedigm said it expects the acquisition of ComicBlitz to close before the end of the year. According to Cinedigm, ComicBlitz could generate over $5 million in incremental revenue within 18-24 months after closing, assuming it can execute on plans for new platform and licensing agreements.

ComicBlitz provide access to some 10,000 digital comic books, representing more than 175,000 pages of content from a network of 30 publishers including IDW, Valiant Comics, Dynamite Entertainment, Zenescope and Lion Forge. The service is priced at $7.99 per month for unlimited access and is available in 133 countries.

Launched in 2015, the ComicBlitz service offers titles including “Transformers,” “Star Trek,” “Judge Dredd,” “Bloodshot,” “Bob’s Burgers,” “Army of Darkness,” “Vampirella,” “Green Hornet,” “KISS,” “The Shadow,” “The Spirit” and “30 Days of Night.”

Cinedigm said ComicBlitz’s content will be distributed globally as a licensed offering for mobile carriers and other media companies. The digital comics also will be integrated with Cinedigm’s own portfolio of over-the-top video services, including fandom lifestyle network CONtv, according to the company.

Under the deal, ComicBlitz founder and CEO Jordan Plosky will join the Cinedigm Digital Networks team, headed by president Erick Opeka.

“This acquisition will provide additional content rocket fuel to further accelerate our digital revenue growth,” Chris McGurk, Cinedigm chairman and CEO, said in a statement. “Targeted at the key and growing fandom demographic, we are confident that this accretive deal will generate a strong [internal rate of return] while it propels our business forward by dramatically expanding and strengthening our content and channel offerings across the fast-growing worldwide OTT ecosystem.”

Plosky commented, “Cinedigm gives ComicBlitz unprecedented support and an incredible opportunity to reach a large and enthusiastic audience, which is invaluable and extremely rare for a digital comic book company to receive.”

Cinedigm last year sold a majority stake in the company to Bison Capital, a Hong Kong-based investment firm, and subsequently inked deals with several Chinese entertainment companies as well as with state-run broadcaster Central China Television.

In addition to its film and TV distribution business, Cindedigm operates a network of OTT services including CONtv, geared around pop-culture and fandom; the faith-and-family Dove Channel and DoveKids; and esports channel Wham Network. Its forthcoming services include Hallypop, a K-pop and Asian music network, and Bambu, a service stocked with Chinese shows and movies. Cindedigm has recently inked distribution agreements for its OTT networks with partners including Roku, Xumo, Samsung, Tubi, Vizio and Comcast.

More Digital

  • Jingle Punks Jingle Player

    Jingle Punks at 10: How the Production Music Platform's Player Works

    Though its primary function is creative, Jingle Punks is built on a foundation of technology and administration. The patented Jingle Player that lets customers search for music using pop culture terms is both intuitive and efficient. Typing in “Reservoir Dogs” or “Starbucks” generates suggestions. Queries are monitored “so if there isn’t an exact match, we’ll suggest [...]

  • Jill Goldfarb - Jukin Media

    Jukin Hires TV Veteran Jill Goldfarb as VP of Linear Programming

    Jukin Media, which specializes in licensing user-generated viral videos, hired Jill Goldfarb as VP of linear programming. Goldfarb’s former tours of duty include serving as Discovery Channel’s VP of programming and as VP of program planning and scheduling at ABC Family/Fox Family Channel. Most recently, for the past five years she worked as an independent [...]

  • Imax Is Exiting the VR Space,

    Imax Is Shutting Down Its VR Business, Closing Remaining Three VR Centers in Q1

    Imax is making its exit from virtual reality (VR) official: The company notified shareholders with a SEC filing Thursday that it will close down its remaining three VR centers, and write off “certain VR content investments.” A company spokesperson confirmed the planned closures and shared the following statement with Variety: “With the launch of the [...]

  • Apple Music Connect Is Being Discontinued

    Apple Music Phases Out Connect Social Feed

    Apple Music has notified artists that it will be phasing out its Connect social feed. Artists won’t be able to post to Connect anymore effective immediately, and their existing posts will be removed by next May, according to an email sent to artists that was first published by 9to5Mac Thursday. “Today we’re streamlining music discovery [...]

  • YouTube logo

    YouTube Warns Creators They May See Subscriber Count Drops Amid Spam-Account Purge

    YouTube is enacting a broad purge of spam accounts over the next two days, and it’s warning creators they could see a big drop in subscribers as a result. According to YouTube, on Dec. 13-14, creators “may see a noticeable decrease” in subscriber counts. The Google-owned video service regularly works to verify the legitimacy of [...]

  • Ninja to Call 'Thursday Night Football'

    Ninja to Call NFL 'Thursday Night Football' Game on Twitch Free Live-Stream

    Tyler “Ninja” Blevins is Twitch’s most popular live-streaming gamer. Now he’s taking his play-by-play skills to the NFL — although it remains to be seen how many of his millions of followers are actually interested in his commentary on gridiron action. This season, Amazon-owned Twitch has provided free live-streaming feeds of the NFL’s “Thursday Night [...]

  • Amazon Starts Selling Chromecast Again, YouTube

    Amazon Starts Selling Google’s Chromecast Again

    Amazon is once again selling Google’s Chromecast streaming adapter, three years after yanking the product from its website. The e-commerce giant began listing the third-generation model of Google’s Chromecast streaming stick, as well as the 4K-capable Chromecast Ultra, on its website this week. The move could be a first step toward a more comprehensive business [...]

More From Our Brands

Access exclusive content