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Jun 30, 2020
Cinedigm Q1 2021 Earnings Report
Cinedigm reported first quarter fiscal year 2021 earnings with operating net income improving and core streaming and content business adjusted EBITDA increasing.
Key Takeaways
Cinedigm's core streaming and content distribution business generated positive Adjusted EBITDA, with a significant increase versus the prior year quarter. The company experienced growth in streaming business, particularly AVOD, and strong digital content sales. They also reduced total debt and strengthened the balance sheet through equity raises.
Core streaming and content distribution business generated positive Adjusted EBITDA, with a $2.3 million or 103% increase versus the prior year quarter.
AVOD revenues were up 48% versus the prior quarter.
Digital content sales experienced the highest revenue quarter in over five years.
Total debt was reduced by $13.1 million or 22% versus the prior year.