87.5 F
San Fernando
Tuesday, May 17, 2022

Cinedigm’s Paid Subscribers Up More than 45 Percent

Cinedigm’s portfolio of paid subscription streaming services has grown its subscriber base more than 45 percent since April 1, the company announced Monday.The Sherman Oaks media company said it has more than 142,000 paid subscribers. It uses its user base on free streaming services to grow its paid subscriber base. The company reaches more than 15.2 million ad-supported users a month, up 238 percent year-over-year.“This rapid growth illustrates the success of our ‘freemium’ model,” Erick Opeka, president of Cinedigm Networks, said in a statement. “Users can discover and enjoy our free networks across hundreds of millions of devices. … At this level, we estimate a stream of over $4 million per year in high-margin subscriber revenues in addition to our digital advertising and licensing revenues.”Shares of Cindigm (CIDM) closed Monday down 2 cents, or 3.5 percent, to 56 cents on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

Featured Articles

Related Articles