The over-the-top media market continues to gain traction as 2015 gets underway amid an ongoing shift in the way people consume content, leading to more companies piling onto the bandwagon to deliver material via alternatives to traditional cable television. Nationwide, consumers are continuing to cut the cable cord (or never get a cord in the first place) in favor of Internet-based streaming as majors like CBS and HBO rattle the industry by offering their own versions of content that don’t require a cable subscription. To that point, market information firm Visiongain estimated last month that delivery services revenue from OTT media reached $51.4 billion during 2014.
The comic book, sci-fi, fantasy and horror (collectively, "pop culture") demographics are a passionate bunch and they will be getting their fill of content curated just for them starting early this year with the launch of CONtv across multiple devices and OTT technology. CONtv, the first digital entertainment network devoted to the pop culture fanspace, is a collaborative effort between Wizard World (OTCBB:WIZD) and Cinedigm (NASDAQ:CIDM). The new digital-streaming network is slated to be a free, ad-supported digital service, with the option for a monthly subscription of $6.99 per month with content exclusives, audience rewards, social viewing experiences, and Wizard World ticketing bundles.
CONtv is expected to be available through all the leading platforms, such as Roku, Apple TV, Chromecast, Xbox, PlayStation, Android, Samsung Smart TV, Windows, Mac OS, mobile, and tablet devices.
Wizard World, a producer of Comic Cons and pop culture conventions across North America, is one of those OTC companies many don’t know about, but it is profitably generating revenue ($1.99 million in net income on $19.15 million in convention revenue in the first nine months of 2014) and has Emanuel "Buzzy" Geduld as an investor. Geduld, now the head of NYC-based hedge fund Cougar Trading, is well-known throughout the investment community as the man who sold his market maker firm Herzog Heine Geduld to Merrill Lynch in 2000 for $900 million.
Wizard World and Cinedigm previously announced a hearty lineup of programming that will be available on CONtv, including the likes of superheroes He-Man and the Incredible Hulk; cult classics Godzilla, Evil Dead, Hellraiser; gaming like Sonic the Hedgehog, the Legend of Zelda and Super Mario Brothers; anime, sci-fi and much more.
The streaming service will be airing original content as well, including "Last Fan Standing," a game show that will be hosted by actor/producer/writer/director Bruce Campbell, as announced in a press release today. Campbell a cult film icon, is perhaps best known for roles in the hit series "The Evil Dead", USA Network’s "Burn Notice" and voiceover work in "Cloudy with a Chance of Meatballs" and "Cars 2".
The show, which will be filmed live at Wizard World Comic Con conventions across the U.S. and aired later in 2015, is being developed through a partnership between Campbell’s own production company and Pop Quiz Entertainment, the media and production arm of Rising Tide Sports & Entertainment Group. The first taping of the show will be tomorrow, January 10 at New Orleans Comic Con.
In the show, all the fans are invited to participate in the game through a proprietary audience response system to showcase their knowledge of pop culture and vie for cash and prizes before the field is narrowed to four contestants and finally the "last fan standing."
In today’s news release, Campbell says that "Last Fan Standing" was debuted at last summer’s Chicago Comic Con and "the audience went crazy" for it. Cinedigm CEO Chris McGurk echoed the sentiment, saying, "It was obvious to us that this would be a hit."
Shares of WIZD aren’t reacting much to the news, trading essentially flat on negligible volume at 73 cents as Friday winds to a close. Shares of CIDM are even at $1.60 each.
