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Cineverse Ended 2023 With 1.4 Million Subscribers

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Cineverse ended 2023 with 1.4 million subscribers. According to the company, the updated subscriber number represents a 30% year-over-year increase and an 11% increase over the previous quarter.

While an increase on the year before, most of those new subscribers appeared to have come through in the final three months of the year. After starting 2023 with 1.22 million subscribers, Cineverse continued to hover between 1.21 million and 1.24 million subscribers over the first three calendar quarters of the year. As a result, the jump up to 1.4 million occurred in calendar Q4 2023 (Cineverse’s Q3 FY 2024).

Cineverse also confirmed subscription-based revenues increased 13% to $3.4 million, with the increase “driven by the continued success of the company’s enthusiast streaming services.” Cineverse owns and operates a number of subscription services, including the flagship Cineverse streaming service and the horror-themed Screambox streaming service.

While subscription-based revenues were up, advertising-based revenues declined 31% to $4.1 million. Cineverse pointed to a variety of reasons to explain the decline, including “our channel optimization efforts, a non-recurring technical transition with a large FAST platform partner and the continued impact of the current economic climate on the advertising market.”

Shortly before confirming its latest subscriber number, Cineverse unveiled its new cineSearch search and discovery tool. Scheduled to roll out to the Cineverse streaming service in the spring, cineSearch will make use of an ‘Ava’ movie concierge to help users find new content to watch, including content housed on other streaming services.

Earlier in the year, Cineverse also announced a new deal with Criterion Pictures that will see some of its FAST channels becoming available in non-theatrical markets, such as universities, hospitals and cruise ships.

John Finn
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John Finn

By John Finn

John Finn is the Founder and Editor of Streaming Better, a platform created in 2019 to help consumers navigate the complicated live TV streaming and subscription service market.

John has been covering technology for various online publications since 2014. After originally covering the wider tech industry as a writer and editor, John now spends his time focusing on the emerging video-streaming market, including live TV streaming, SVOD, AVOD, FAST, and TVOD services.

In a bid to keep up to date on the industry, John actively subscribes to multiple streaming services at the same time. However, John continues to advocate that the best approach for consumers is to rotate between streaming services as needed.

A Psychology graduate from England, who now lives in the US, John previously worked in the aviation industry as an airline reviewer. While reviewing airlines isn't quite the same as reviewing devices and streaming services, John brings the same analytical eye to all of his reviews and industry analysis, along with a special emphasis on what's best for the consumer.

Connect with John
Email: john@streamingbetter.com
X: @J_Finns
Website: JohnFinn.net

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