Cineverse ended the most recent quarter (and its fiscal 2023) with a total of 1.24 million subscribers, an increase of 28% over the prior-year quarter.
Previously known as Cinedigm, the company changed its name earlier this year in a bid to better reflect its greater emphasis on streaming. Along with its flagship Cineverse streaming service, the company also owns a number of other streaming services and related properties.
Today, and as part of its Q4 FY 2023 and FY 2023 earnings report, the company confirmed that it had a total of 1.24 million subscribers, as of March 31, 2023. In addition, streaming revenue in general totaled $32.2 million, up 59% year over year and 230% on a 2-year basis.
Screambox is another of the properties owned by Cineverse and the company today confirmed that the horror streaming service saw a 438% subscriber increase when compared to the end of the same quarter in the year before.
Earlier this year, Cineverse confirmed Screambox had a record-breaking 2022, in part thanks to the success of Terrifier 2. The service had seen so much success in the past year that it was “the fastest-growing horror streaming service,” according to Cineverse.
In terms of watch time, Cineverse confirmed 3 billion total streaming minutes during the last quarter, up 31% over the prior-year quarter and up 73% when compared to the prior sequential quarter.
Similar to many other companies nowadays, Cineverse also offers access to a variety of FAST channels and content. All of which helped its total ad-supported streaming audience, which includes web, mobile, social and connected television, to reach 72.1 million monthly viewers during the quarter.
Unlike many of the other metrics, however, this represented a decrease (17.2%) when compared to the prior-year quarter. The company says this drop was the result of winding down “lower margin and underperforming streaming assets to focus on those with greater profitability.”