Cineverse (NASDAQ:CNVS) shares were virtually unchanged Wednesday, after announcing it has extended its relationship with longtime partner VA Media to continue expanding their channels' global footprint on YouTube and other social platforms.
VA Media, the global leader in YouTube and social media monetization, had previously managed a number of Cineverse's brands and various titles under a global license and has now extended the pact to include growing audiences for the widely popular Free Movies from Cineverse, the fast-growing Screambox TV, westerns based Lone Star TV, family and faith favorite Dove TV and comic convention originated Con TV. All channels are owned and operated by Cineverse and powered by the company's digital managed service tech Matchpoint to streamline delivery.
"We tailor our content and monetization strategy for each channel uniquely with a mix of compilations, full episodes, and feature films that appeal to each of the respective channels' audiences with a regular cadence of data-driven messaging," said Mark Ashbridge, CEO of VA Media. "Our renewed and expanded Agreement with Cineverse is ideal for both companies as it provides Cineverse's deep library of relevant content to highly engaged audiences via VA's vast global AVOD network."
Cineverse is a global streaming technology and entertainment company with one of the world's largest portfolios of owned and operated streaming channels, all powered by its advanced, proprietary technology platform. Cineverse currently features enthusiast brands for subscription video on demand (SVOD), advertising-based video on demand and free, ad-supported streaming television channels.
CNVS inched up 0.03 cents a share to $1.68.
