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Sep 30, 2020
Cinedigm Q2 2021 Earnings Report
Reported a decrease in revenue due to decline in legacy Cinema Equipment business and COVID-19 impacts, offset by growth in OTT / streaming revenues.
Key Takeaways
Cinedigm reported a revenue of $7.2 million, a 30% decrease compared to the prior year. The company experienced a net loss of $26.6 million. However, OTT AVOD Channel revenues increased by 45% year-over-year.
Total quarterly revenues reached $7.2 million.
OTT channel streaming revenues increased by 47% year-over-year.
Ad-supported OTT revenues increased by 45% year-over-year.
Total monthly ad-supported viewers reached 15.2 million, a 238% increase year-over-year.
Cinedigm
Cinedigm
Forward Guidance
The company anticipates revenue growth to accelerate into the fiscal third quarter, driven by additional channel launches, platform/device expansion, enhanced digital sales, recovery in the advertising market and continued demand by all the streaming platforms for digital content
Positive Outlook
- Additional channel launches
- Platform/device expansion
- Enhanced digital sales
- Recovery in the advertising market
- Continued demand by all the streaming platforms for digital content