Cinedigm, New Video strike strategic partnership
Ambitious digital exhibition leader Cinedigm Entertainment Group and New Video have signed a deal to jointly acquire and distribute independent film.
Effective immediately, the terms call for theatrical distribution in North America followed by platform release across cable, VoD, digital and DVD / Blu-ray.
Cinedigm has been highly active in the digital conversion of theatres and has released close to 200 independent films and alternative content events over the last few years.
New Video calls itself the largest aggregator of independent digital content worldwide and has relationships with Amazon, iTunes, Hulu, Netflix and Walmart’s Vudu service.
“New Video has a strong 20-year track record of creative marketing and innovative release strategies for film and TV,” Cinedigm chairman and CEO Chris McGurk said. “Adding in Cinedigm’s quality digital theatrical capabilities to New Video’s proven expertise opens up a unique and advantageous release opportunity for independent filmmakers in all key channels of distribution.
“This arrangement also underscores Cinedigm’s commitment to provide our digital theatrical network with an expanded stream of high quality content as we rapidly grow our core distribution business.”
“There is opportunity and demand for great independent cinema,” New Video co-president Steve Savage said. “Cinedigm and New Video are creating a new distribution model that’s specifically designed to maximise today’s fast-moving digital landscape.
“Together, our acquisitions teams will target both talent-driven independent films with broad appeal, as well as niche or specialty releases. We are thrilled to partner with Chris and his entire team to bring enhanced value to the life of a filmmaker’s project.”