Los Angeles-based VOD operator Cinedigm has announced the acquisition of Digital Media Rights (DMR).
DMR is described by Cinedigm as “a diverse streaming, advertising and content distribution company with considerable expertise in building audiences for global content in North America.” The company focuses on streaming through movie distribution and operates over 10 FAST and social video channels.
The acquisition will see Cinedigm grow its library to over 46,000 hours of film and television content, as well as approximately 40 million monthly viewers, 18.5 million social subscribers, 4 billion views and 13 billion minutes viewed each. year.
Terms of the deal were not disclosed, but Deadline estimates it at $ 20-25 million.
Cinedigm said it will look to expand DMR’s advertising network, while leveraging the company’s social media division to increase its audience size.
Chris McGurk, President and CEO of Cinedigm, said: “DMR’s premier leadership team, premium channels and library of films and television perfectly complement our own strengths and mission to serve an audience. passionate. When you consider the other key add-on elements of this deal, including the global reach of DMR’s extensive social media efforts, we are well positioned to not only reach a new and rapidly growing audience in the short term, but also to expand the reach of the audience. scale of a longer-term Cinedigm umbrella channel strategy. We expect this acquisition to be immediately accretive, and the leverage of Cinedigm’s technological efficiencies and large portfolio of assets will drive significant additional growth.
David Chu, Co-Founder and CEO of DMR, said, “The strong synergy between Cinedigm and DMR is evident, and by working together we can continue to deliver and evolve our premier streaming channels to our audiences in a way that creates a real sense of community.
“The DMR team is proud to have built an impressive lineup of channels and to deliver content that can meet the growing demands of audiences around the world, including fans of incredibly popular Korean dramas, Japanese anime and television, as well as arthouse, romance and horror films. That is why we are delighted to align with this key player in the industry and look forward to a future with even more expansion opportunities.