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Sep 30, 2022
Cinedigm Q2 2023 Earnings Report
Reported a 39% increase in consolidated revenue and a 78% increase in total streaming revenue compared to the prior year.
Key Takeaways
Cinedigm reported strong Q2 fiscal year 2023 results, with significant growth in streaming revenue and advertising-supported streaming revenue. The company launched its flagship service, Cineverse, and surpassed one million subscribers. The success of Terrifier 2 is expected to further boost financial results in fiscal Q3.
Consolidated revenue increased by 39% year-over-year.
Total streaming revenue increased by 78% year-over-year.
Ad-supported streaming revenue increased by 102% year-over-year.
Paid subscribers increased to 1.06 million, up 48% year-over-year.
Cinedigm
Cinedigm
Forward Guidance
Cinedigm anticipates continued growth and success in the coming months, driven by various factors including the growing audio business, Matchpoint 2.0, and leveraging their capabilities in the horror genre and other enthusiast verticals.
Positive Outlook
- Growing audio business with 30 podcasts
- Matchpoint 2.0 rollout as a SaaS and content aggregation platform
- Continued success in the horror genre
- Leveraging business and promotional capabilities in other enthusiast verticals
- Potential revenue opportunities from multiple touchpoints