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Saturday, May 28, 2022

Cinedigm Corp. (CIDM) stock has been rocketing; Here’s what we know

Cinedigm Corp. (CIDM) shares were rising 18.42% to trade at $1.36 in the current market at the last check. CIDM stock previously closed at $1.14. The CIDM stock volume traded was 59.3 million shares, which was higher than the average daily volume of 25.69 million shares for the past 3 months. CIDM shares have risen by 185.00% over the last 12 months, and they have moved down by -20.28% in the past week. Over the past three months, the stock has gained 46.34%, while over the past six months, it has added 99.68%. Further, the company has a current market of $213.82 million and its outstanding shares stood at 136.87 million.

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Pressure of pandemic made Cinedigm change its business strategy

Cinedigm is also associated with the movie theater businesses. However, due to the lockdown and pressure of COVID-19, this business has been hurting for the past year. But CIDM stock has been able to plant its feet in a new stream of an innovative business trend that is associated with the online streaming platforms. Here Cinedigm has been able to establish the business model of focused subscription services as well as advertising-supported streaming. The subscription-based services have been expanded currently to maintain 16 channels for streaming instead of 5 which was done through acquisitions, newly added subscribers totaling more than 0.6 million which is a 574% increase Y-O-Y. The streaming platform’s streaming viewer footprint reached 23.8 million active ad-supported viewers as well which is a 208% increase y-o-y.

Cinedigm’s pursuit of acquisitions and NFTs

In March 2021, the Company announced it is pursuing the development of commercial NFT products. For the past 20 years, CIDM stock’s corporation has been innovating and disrupting the market and industry of entertainment with innovative technologies. The advent of digital projection was started by Cinedigm which converted one third of US cinema screens that previously used 35mm films.

Cinedigm is actively focused on integrating more acquisitions especially the ones it has made since October 2020. CIDM stock made a deal with Fantawild channel last year to operate a children’s streaming service with the company. CIDM has also incorporated the assets of one of its latest merger with Fandor in post-mid-January 2021. In December 2020, CIDM also acquired assets of The Film Detective (TFD).

The most recent of its acquisition expansion activities include the final diligence of FoundationTVacqusition’s transaction which the CIDM states to be done in the next 30 days.

About Cinedigm

Cinedigm along with its subsidiaries is a corporation which specifically operates as an aggregator as well as distributor of independent movie, television and other cinematic content. CIDM stock operates in the three countries of USA, New Zealand and Canada, and has two segments of business operations; Cinema Equipment Business & Content and Entertainment Business.

CIDM has its digital cinema assets on around 12,000 domestic and foreign movie screens and a plethora of distribution rights to various forms of TV and media entertainment. These distributions also include the distribution of the corporation’s own products for international and domestic content creators and producers along with various major brands like ZDF, NFL, NHL, Televisa, Hallmark, and Scholastic.

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