Cinedigm Corp. was rebranded as Cineverse Corp., marking another step in its evolution as a content and streaming technology company.
Along with the corporate name change to Cineverse, the company’s ticker symbol will change from CIDM to CNVS. Its shares will begin trading on the NASDAQ Capital Market under the new ticker symbol when the market opens on May 23.
Chris McGurk, President and CEO of Cineverse, said, “We’ve come a very long way since Cinedigm of 10 years ago, which specialized in digital innovation within the movie industry. Today we officially turn the page to become Cineverse, a pure-play company in the exciting and dynamic field of streaming content and technology. Our mission is to give audiences unprecedented access 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 to grow our media library, which currently has over 60,000 titles and is growing rapidly, in order to have more engaging content and streaming channels to offer audiences than anyone else in the entertainment industry. Our recent investments and acquisitions have allowed us to become a leader in multiple genres of entertainment, ranging from anime and Asian entertainment to faith and family, horror, independent film and many other genres. .
McGurk continued, “Having now completely outgrown our legacy digital cinema business at the end of our last fiscal year ended March 31, 2023, we believe a new company name more accurately reflects our business and brand as it stands. present today – a leading brand at the intersection of entertainment and innovation. We are confident that our expanding media library and proprietary Matchpoint streaming technology and content distribution platform will enable us to transform the way people interact with the stories they love and deliver a growing universe of content. and channels appealing to the widest possible audience. As major studio gatekeepers and our competitors continue to shrink their catalogs of content, we plan to open the doors they are closing to the public and creative community by offering the widest selection of content and channels and the most diverse of all time, complemented by the best discovery and user experience in all of streaming.