Cinedigm reports preliminary fourth quarter fiscal 2021 results

Streaming channel revenues up 197% year-over-year ad-supported streaming channel revenues up 331% year-over-year subscription streaming channel revenues up 117% year-over-year los angeles, ca / accesswire / july 14, 2021 / cinedigm corp. ("cinedigm" or "the company") (nasdaq:cidm), a leading independent streaming entertainment company super-serving enthusiast fan bases, today announced its preliminary, unaudited, results for the period ended march 31, 2021. key fourth quarter financial results (quarter ended march 31, 2021): consolidated revenues were $8.3 million, with streaming channel revenues up 197% versus the prior year quarter and 39% sequentially over last quarter; streaming/digital revenues grew to 75% of the company's total revenues in the quarter versus 48% in the prior year quarter; combined streaming/digital revenues increased 66% over the prior year quarter and 27% sequentially over last quarter; ad-supported streaming channel (avod) revenues increased 331% over the prior year quarter and 23% sequentially over last quarter; subscription streaming channel revenues increased 117% over the prior year quarter and 65% sequentially over last quarter; streaming digital content licensing and sales, driven by partners such as amazon, apple and tubi, generated record digital sales billings growth for the fourth consecutive quarter; reached an agreement with amc entertainment for a sales plan for legacy digital cinema equipment with net proceeds to the company of $10.8 million over two years; reduced total debt by $37.3 million to $11.9 million, from $49.1 million the prior year.
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