Cineverse Overview - Cineverse is a streaming technology provider empowering brands to grow their streaming business[6] - As of March 31, 2024, Cineverse had 15699 million common shares outstanding, a book value of $205 per common share, and a share price of $139, with TTM revenues of $49131 million[7] - Cineverse has over 71000 titles available to more than 82 million unique viewers monthly[8] Market Opportunity - The U S households watch TV for over 4 hours per day on average[11] - 86% of U S households have at least one TV-connected device[11] - 59% of U S viewers already use an AVOD service[11] - Ad revenue from AVOD and FAST is expected to reach $109 billion by 2028[11] - The U S enthusiast market is valued at over $3 billion, while the total global market is approximately $60 billion, with a projected market growth (CAGR) of 134%[19] AI Initiatives - The total AI market is projected to reach $2-25 trillion in the next 8 years, with generative AI accounting for $165 billion in five years and video Gen AI segment at $55 billion[21] - Cineverse launched cineSearch, a Gen AI content search & discovery tool, in partnership with Google Cloud, leading to a trading day with 32 million shares traded[22] Financial Strategy - Cost-cutting initiatives include the launch of Cineverse Services India, with the goal of achieving sustainable profitability and improved margins by the end of FY 2024[9] - The company is focused on high-return, low-cost initiatives using existing assets[8]
Cineverse (CNVS) Earnings Call Presentation