Cinedigm has rebranded to become Cineverse, mirroring the company’s newfound focus on streaming as it drifts further from its roots as an electronic distribution supplier.
In addition to the new corporate name, the company’s stock will change from CIDM to CNVS, the company announced. All stock trading, filings and market-related information will use this symbol going forward, and this new stock symbol will be used starting on May 23.
“We have come a very long way from the Cinedigm of 10 years ago, which specialized in digital innovation within the cinema industry. Today we officially turn the page to become Cineverse, a pure-play business in the exciting and dynamic streaming content and technology space,” Chris McGurk, chairman and CEO of Cineverse, said in a press release. “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 at 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.”
This isn’t the first major change the company formerly known as Cinedigm has made this year. In February, the global streaming company acquired the faith-based review site Dove.org and the VOD platform Christina Cinema.
According to the company’s own metrics, Cineverse currently has more than 60,000 film and TV titles as well as a podcast network that has led to an estimated 70 million downloads over its 28 shows. It has a large collection of anime, horror and Chinese content. The company first launched CONtv with Wizard World in 2015 before acquiring a minority stake in Shout! Factory.
Over the years, the company has either partnered with or acquired more and more niche titles, from Viewster and its subsidiarity, which eventually became CONtv Anime, to the American classic film restoration streaming company The Film Detective and the horror streaming service, Screambox.