Cinedigm shares are rolling as the company becomes part of The Weather Channel’s network.
Shares of Cinedigm Corp. (CIDM) are soaring for a good reason today. The bullish momentum comes from the distribution partnership with Local Now, The Weather Channel’s free streaming service.
CIDM surged as high as 40% in the premarket trading after the stock kicked off the session at $0.78 up from the previous close of $0.56. Cinedigm shares are rallying with a strong volume as the stock pushes for the top stop as the weekends.
At the time of press, CIDM’s trading volume was over 82 million compared to the average volume of 4.9 million. As of 12:49 P.M. EST, CIDM stock was trading at $0.69 rising by 23.12%.
This new partnership deal adds a new slate of streaming channels including Dove Channel, CONtv, Bob Ross Channel, Gametoon, Comedy Dynamics, FashionBox, BAMBU, and Anime are available on Local Now.
Cinedigm has joined Local Now as part of its strategy to expand the depth, availability, and entertainment value of its programming offerings. Cinedigm channels will now be available on Local Now’s platform by the end of this year. The viewers would be able to access Cinedigm channels across Local Now’s different portfolios including OTT, CTV, mobile, and TV platforms.
Cinedigm will take advantage of Local Now’s compelling streaming areas which reach out to a broad and unique audience. This will help the company in obtaining its mission of accessing cord-cutters on compelling discovery platforms.
Local Now is exploring its ecosystem and is expanding both its national reach. The OTT streaming platform wants to strengthen its power in localized, in-depth programming. The company wants to up its user experience through these top-tier channel partners being part of its app and its VOD streaming platform.
The Senior Vice President of Local Now, Michael Senzon claimed that they are above any other platform that provides so much depth across entertainment and news channels. There is no other network that’s doing better than Local Now.
Senzon added that an experienced platform like Cinedigm will play a great role in helping them deliver their promise.
Cinedigm has directed the digital transformation in the entertainment industry and is one of the biggest media networks across the globe. It entertains millions of consumers through its vast range of premium content.
During the COVID-19 pandemic, the online streaming networks and digital channels have observed colossal growth. And, Local Now has a reach over more than 225 markets in the country.
With its collaboration with Cinedigm Corp. (CIDM), both the entertainment networks want to continue improving quality content for their viewers during these hard times. They focus on their target audience which remains the non-traditional television consumers.