Cinedigm Corp (NASDAQ:CIDM) is up 10% in a week after the streaming firm announced the availability of four of its newest channels on The Roku Channel, which is the home for premium and free entertainment on Roku. The company’s launch includes reality powerhouses The Only Way Is Essex and So…Real, Robert Rodriguez’s El Rey Network, and sports-focused Real Madrid TV. It is vital to note that the streaming company’s wide range of diverse channels has grown to a go-to platform for fans.
The company’s SVP Revenue Daniel Schneider said that Roku Channel is growing and becoming a go-to streaming destination allowing users to enjoy and discover a wide variety of programs.
He said that they are delighted to have these new channels available to fans which they believe will appeal to the audience in the Roku Channel. In addition, Cinedigm has a mix of diverse premium SVOD offerings and FAST channels and dedicated AVOD offering fans access to streaming content. Therefore, in the coming weeks, CIDM is worth keeping an eye on.
Market Reaction:
On Tuesday, CIDM stock ended flat at $1.88 with more than 15.62 million shares, compared to its average volume of 13.20 million shares. The stock has moved within a range of $1.8500 – 1.9700 after opening the trade at $1.85.
