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Cinedigm Partners with The World's Largest Smart TV Solutions Provider Vewd for Global OTT Channel DistributionLOS ANGELES, June 04, 2020 (GLOBE NEWSWIRE) -- Cinedigm, (NASDAQ: CIDM) a leading provider of OTT entertainment networks and content, announced a partnership with Vewd, the world’s largest Smart TV OTT software provider, offering Cinedigm’s portfolio of streaming entertainment networks on Vewd-enabled devices worldwide. As part of the agreement, Cinedigm’s networks will be available on an install base of more than 300 million Smart TVs and connected devices made by top brands such as Sony, Samsung, Skyworth, Hisense, Philips, and TiVo, among others. Additionally, Cinedigm’s networks will be available on more than 40 million new Vewd-powered devices shipping annually around the world. The move further extends Cinedigm’s reach and distribution worldwide, expanding the Company’s footprint across top selling OEMs and hardware manufacturers with a special emphasis on the European Union, Latin America and Asia. The partnership further extends Cinedigm’s scale in the fast-growing ad-supported video on demand segment. The first Cinedigm channels planned for the initial Vewd rollout include:
For over 15 years, Vewd has connected consumers around the word to the programming they love. Through strong partnerships with marketplace titans such as Samsung, Sony, Verizon, and TiVo, Vewd leads the charge into the future of entertainment—providing products and services that offer solutions to help simplify the complex television landscape and unite the entire value chain from manufacturers to consumers and everyone in-between, while making OTT content easily accessible on nearly 50 million connected devices each year. "Vewd is the perfect partner for Cinedigm, as both companies have a common goal to entertain viewers through high-quality programming, now more than ever, as more viewers seek out free alternatives to established Pay-TV services," said Tony Huidor, Cinedigm’s General Manager of Digital Networks. “Vewd’s worldwide reach presents an invaluable opportunity for Cinedigm by allowing us to grow our distribution footprint even further as the ad-supported market continues to mature internationally.” “With Global ad-supported OTT revenues surging to $53 billion globally over the next five years, our focus is on rapidly expanding our distribution footprint to maximize growth,” said Erick Opeka, President of Cinedigm Networks. “Vewd helps us dramatically expand the viewer base for our rapidly growing portfolio of OTT networks, which we expect to double over the next 18 months.” ABOUT VEWD ABOUT CINEDIGM Press Contact for CIDM: A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4ef96729-dd70-4de8-a066-28838f26205e |