Cinedigm reports first quarter fiscal year 2023 financial results

-consolidated first quarter revenue of $13.6 million -total streaming revenue up 98% over prior year -ad-supported streaming revenue up 131% over prior year -subscription streaming revenue up 43% and subscribers up 45% over prior year -company expects to achieve significant total revenue growth, sustainable long-term profitability and positive cash flow in current fiscal year via new business initiatives and significant cost savings los angeles, ca / accesswire / august 15, 2022 / cinedigm corp. ("cinedigm" or "the company") (nasdaq:cidm), a premier streaming technology and entertainment company super-serving enthusiast fan bases, today announced its financial results for the first quarter of fiscal year 2023, which ended june 30, 2022, highlighting the company's positive business results and momentum, growth trajectory, financial targets and plan for sustainable profitability and positive cash flow by the fiscal fourth quarter, ending march 31, 2023. "our strong business momentum continues with total streaming revenue surging up 98% in our fiscal first quarter, almost doubling our long-term revenue growth target and exceeding our internal plan," said chris mcgurk, chairman and ceo of cinedigm.
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