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Cinedigm [NASDAQ: CIDM] Achieve Record Subscription and Ad-Supported User Growth Milestones

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Shares of Cinedigm Corp. [NASDAQ: CIDM] skyrocketed 19.30% after the firm reported the update about the subscription. The firm has achieved the best ever achievement as recorded the breakthrough for its subscription and ad-supported channel businesses.

The firm disclosed that the establishment of its footprint and the constant effort of the competent team has helped the team to achieve this milestone. Furthermore, the firm explained that its success is attracting the attention of various brands who are approaching the firm to help them in developing streaming strategies.

Shares of Cinedigm surged 19.17% as it gained +0.22 at the time of writing on Wednesday. The firm has recorded the share price of $1.36 per share. In the past 52-weeks of trading session, the firm share went up 254.05% from its 52-week low. The share of firm went down-78.17% from its 52-week high. Cinedigm has total market capitalization of $213.82 million at the time of writing.

Record-Breaking Subscription

Cinedigm revealed that its viewer reached 23.8 million in March 2021. Furthermore, the firm explained that total subscribers to the firm’s portfolio of subscription streaming services exceeded 640,000, up 574% YOY.

Additionally, it has recorded that in March 2021 423 million minutes were streamed. It is the new milestone of the firm. It has represented the increase of 305% YOY. Moreover, Cinedigm has also seen the increase in promotion requests. The promotion requests surpassed 431% YOY.

In addition to this, nearly 96% of all streaming happened in connected TV (CTV) environments. A total of 16 streaming channels are presently live, in comparison with 5 live in March 2020. It signifies a surge of 220%.

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