By Sahil Patel
Per the terms, the companies are extending Cinedigm’s existing home-entertainment distribution contract with Shout, which covers the distributor’s library of classic and current TV series, and horror, family, animated, and classic films.
Cinedigm and Shout Factory will also team up to re-launch Shout’s ad-supported video streaming channel, Shout Factory TV. Launched earlier this year, the channel offers a variety of cult films and classic TV shows, including “Mystery Science Theater 3000,” “Home Movies,” “Dennis the Menace,” “A Room with a View,” “Death of a Salesman,” and “Hoop Dreams.” The new version will be available in both free (and ad-supported) and subscription tiers, similar to how Cinedigm sells its existing over-the-top channels Docurama and Con TV.
“As we continue to build on the success that we’ve enjoyed, we want to acquire exciting and high potential new films and series with significant revenue streams that we along with Cinedigm can fully exploit,” said Shout founders Richard Foos, Bob Emmer, and Garson Foos in a statement. “This is a dynamic opportunity for us to cultivate our OTT digital channels by utilizing Cinedigm’s expertise. This positions us well to further expand our physical and digital businesses.”
Cinedigm has moved pretty aggressively in the digital space. In the past year alone, the company has launched two streaming channels and is about to launch its third, the Dove Channel, which will focus on family-friendly programming supported by the Dove Foundation. Earlier this year, the independent distributor also announced a deal with TV4 Entertainment to launch an “edu-tainment” channel called Bright.
Financial terms of the investment were not disclosed. John Rudolph and Allen D. Lenard served as financial advisors to Shout Factory for the transaction.