LOS ANGELES, Nov. 5, 2024 /PRNewswire/ -- Cineverse (NASDAQ: CNVS), an innovative streaming entertainment and technology company, today announced that it has hired Rey Puentenegra as Vice President, Corporate Controller. Leveraging over 20 years of combined experience across the Industry, Audit and Regulatory Sectors, Puentenegra will oversee all financial and accounting functions across Cineverse's entire business. He will manage day-to-day operations of the accounting department while taking ownership of ...

Second Wind Capital is a value oriented investment service with a strong recent track record of exceptional outperformance. The focus is mostly small cap value and special situation equities. From January 1, 2020 - December 31, 2023, the flagship account has compounded at 46% (pre-tax) per year. If you closely follow my work, for any period of time, readers should be well aware that I'm a small-cap value and special situations investor and speculator. The vast majority of my time and capital is devoted to s ...

Horror Sequel Certified Fresh on Rotten Tomatoes and Earns Strong Rotten Tomatoes and CinemaScore Audience Approval LOS ANGELES, Oct. 15, 2024 /PRNewswire/ -- Cineverse Corp. (NASDAQ: CNVS), an innovative streaming technology and entertainment company, is proud to announce that Terrifier 3 has delivered a standout opening performance, far surpassing early expectations and proving the power of independent filmmaking. Terrifier 3Terrifier 3 With over 2,500 theaters in North America, Terrifier 3 opened to $21. ...

AI-Powered cineSearch Unlocks Personalized Content Recommendations Across Leading Streaming Platforms LOS ANGELES, Oct. 8, 2024 /PRNewswire/ -- Cineverse Corp. (NASDAQ: CNVS), an innovative streaming technology and entertainment company, today announced that cineSearch, its highly anticipated AI-driven content discovery tool, is now available for public preview. cineSearch is set to transform the way users interact with their favorite streaming platforms by offering an intuitive, highly personalized search ...

Coming off Successful Product Run, Bloody Disgusting Continues to Prove its Value as Top Horror Brand by Tapping into Fan Nostalgia and Retail Partnerships LOS ANGELES, Oct. 7, 2024 /PRNewswire/ -- Cineverse (NASDAQ: CNVS), an innovative streaming entertainment and technology company, is riding the momentum of its growing consumer products business into Halloween. Specifically, its fan-first horror brand Bloody Disgusting continues to tap into nostalgia and the love for iconic films, from Beetlejuice to the ...

Fans and Critics Praise Damien Leone's Masterpiece: "A Blood-soaked Triumph!" AUSTIN, Texas, Sept. 23, 2024 /PRNewswire/ -- The highly anticipated Terrifier 3 premiered last week at Fantastic Fest 2024 in Austin, TX, to rapturous early acclaim from critics and fans. Following the shocking reactions to Terrifier 2, which caused some audience members to faint and vomit in theaters, initial buzz suggests Terrifier 3 could push audiences even further. With its unapologetic violence and graphic kills, this third ...

LOS ANGELES, Sept. 19, 2024 /PRNewswire/ -- Cineverse Corp. (NASDAQ: CNVS), an innovative streaming technology and entertainment company, is wrapping the summer by earning industry recognition by Next TV and the Digital Entertainment Group (DEG). The 4th Annual EnTech Awards Taking place on October 1 in Los Angeles, DEG's EnTech Awards are chosen by a distinguished judging panel comprised of a cross-section of leaders representing entertainment technology. Among other factors, the judging panel based its de ...

Ahead of the World Premiere at Fantastic Fest 2024, the highly anticipated Official Trailer and Key Art for TERRIFIER 3 Unveiled; Tickets on Sale Now for October 11 Theatrical Release Trailer Scared up Over 7 Million Views on YouTube in first 24 Hours LOS ANGELES, Aug. 29, 2024 /PRNewswire/ -- Cineverse Corp. (NASDAQ: CNVS), an innovative streaming technology and entertainment company, and Bloody Disgusting, its horror division, have released the official trailer and key art for Terrifier 3 ahead of its wor ...

LOS ANGELES, Aug. 22, 2024 /PRNewswire/ -- Frequency, the engine behind many of the world's bestknown streaming television channels, is proud to announce that Cineverse (NASDAQ:CNVS), a recognized pioneer in the FAST industry, has chosen Frequency to deliver leading channels from its streaming portfolio to more than 25 platforms. This strategic partnership underscores Cineverse's significant growth and evolution in the streaming market by enhancing content delivery methods and viewer engagement across its c ...

Financial Data and Key Metrics Changes - Cineverse reported total revenues of $9.1 million for Q1 2025, down from $13.0 million in the prior year period, primarily due to a decline in digital distribution revenue and the absence of non-recurring revenues from the legacy digital cinema business [9][10][11] - The direct operating margin for the quarter was 51%, exceeding the target of 45% to 50%, attributed to cost optimization initiatives [10][11] - SG&A expenses decreased by $1.3 million or 17% compared to the prior year quarter, reflecting successful cost-saving measures [11][12] Business Line Data and Key Metrics Changes - Digital licensing revenue declined by approximately $2 million due to timing issues with content releases and a comparison to non-recurring revenues from the previous year [5][9] - Advertising revenues also saw a decline of about $500,000 due to channel optimization efforts [9] - The streaming business achieved significant viewer growth, with 2.26 billion minutes watched in Q2 2024, up 73% year-over-year [14][15] Market Data and Key Metrics Changes - The subscriber count for Cineverse stands at approximately 1.39 million, down 3.5% sequentially but up 10% year-over-year, with expectations for growth following the release of Terrifier 3 [15][16] - The podcast network experienced a 49% revenue surge over the last 60 days, indicating strong listener growth [20] Company Strategy and Development Direction - The company is focusing on expanding its distribution of SVOD, AVOD, and fast streaming channels, as well as growing direct ad sales and new revenue drivers like Matchpoint and podcasts [22] - Cineverse is optimistic about the upcoming release of Terrifier 3, which is expected to generate substantial revenue across various business lines [7][16] - The company is also in the final stages of developing cineSearch, an AI-powered content search tool, which is anticipated to enhance user experience and drive growth [21] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for double-digit revenue growth in fiscal year 2025, driven by an improving economy and the expected rebound in advertising [10][11] - The company believes it is bouncing off the bottom of revenue and entering a robust growth period, supported by a strong sales pipeline and new initiatives [27] Other Important Information - Cineverse extended its $7.5 million line of credit with East West Bank for another 12 months, enhancing financial flexibility [7][12] - The valuation of the company's digital library increased to approximately $39.8 million, significantly higher than its book value of $2.6 million [8] Q&A Session Summary Question: What caused the drop in digital distribution revenue? - Management indicated that the decline was due to timing issues with content releases and the absence of large licensing deals that occurred in the prior year [24][25][26] Question: What is the outlook for revenue growth excluding digital distribution? - Management noted that new sales teams are ramping up, and there is a robust pipeline of potential revenue, suggesting a positive outlook for future growth [27][28] Question: How much revenue can be expected from top-earning channels? - A successful channel could generate low to mid-seven figures, with unique properties like Dog Whisperer potentially earning on the higher end due to additional rights [28] Question: How does the company plan to navigate the competitive advertising landscape? - Management emphasized a focus on bespoke campaigns and comprehensive packages that include various media types, which differentiates Cineverse from larger competitors [30] Question: What is the expected growth for the podcast segment? - The podcast segment is approaching significant revenue milestones, with substantial upside potential as monetization efforts ramp up [31] Question: Will the guidance include monetization from cineSearch? - The guidance does not currently include monetization from cineSearch, but there are expectations for operational cost savings and revenue growth from various initiatives [33]