Cinedigm Corp. rebranded as Cineverse Corp. to better reflect its streaming content and technology business.
West Los Angeles-based CIDM became CNVS to match its new name. On May 23, Nasdaq Capital Market shares started trading under the new symbol.
Cineverse CEO Christopher McGurk said the firm has grown since it concentrated in digital cinema innovation 10 years ago.
McGurk said the May 22 name change makes it a streaming content and technology pure-play.
McGurk added, “Our mission is to give audiences a level of access like never before to the vast universe of film and television entertainment through the power of our proprietary technology and the breadth of our content offerings.
“We plan to continue expanding our media library, currently over 60,000 titles and growing rapidly, so that we have more compelling content and streaming channels to offer audiences than any other player in the entertainment business,” he said.
The firm has 28 podcasts with 70 million downloads.
Cineverse is the company’s premier streaming channel, accessible on Roku, Apple, Android, and Samsung smart TVs.
The Cineverse streaming channel features free, ad-supported linear channels from Cineverse-owned and operated channels such The Bob Ross Channel, The Country Channel, CONtv, Docurama, The Dove Channel, and The Elvis Presley Channel.
Cineverse has more titles than Netflix, Hulu, and Paramount+, according to the company’s announcement.
Cineverse’s chief strategy officer and president, Erick Opeka, said the firm was excited to embrace the Cineverse moniker and unify its brand.
Opeka said the company’s vision is to celebrate culture through entertainment, storytelling, and innovation, and its channel portfolio allows storytellers to connect with fans with content they often can’t find elsewhere as other streaming services cut back on content.
“We invite fans to discover more stories with more ways to watch – to satisfy any content craving, mood, budget or fandom,” Opeka said.
After moving beyond its heritage digital cinema business at the conclusion of its fiscal year on March 31, McGurk said a new company name better reflected the firm’s current operation as a leading brand at the crossroads of entertainment and innovation.
McGurk said, “We believe our expanding media library and proprietary Matchpoint streaming technology and content distribution platform will allow us to transform the way people interact with the stories they love and bring a growing universe of compelling content and channels to the broadest audience possible.”