Cineverse saw a slight drop in subscribers during the second calendar quarter of the year, but the company reported positive year-over-year subscriber growth.
Cineverse, previously known as Cinedigm, owns and operates a number of enthusiast subscription services, including its flagship Cineverse streaming service and its horror-themed Screambox streaming service.
After ending the first calendar quarter of this year with a total of 1.24 million subscribers, Cineverse confirmed that it ended the second calendar (fiscal 2024 first quarter) with 1.21 million total subscribers, resulting in a decrease of around 30,000.
Considering subscribers to the company’s subscription video streaming services stood at 984,000 at the end of the second calendar quarter of 2022 (fiscal 2023 first quarter), Cineverse saw a healthy year-over-year increase of 226,000 subscribers.
Cineverse tends not to release subscriber numbers for individual streaming services, opting to release a total subscriber number for all of its services instead. However, and has been the case over the past few quarters, the company did take the opportunity to specifically call out the continued success of Screambox.
The company attributed the 38% year-over-year increase to “the success of new release and library acquisitions for our flagship enthusiast streaming services, particularly our Screambox horror channel.” In addition, Cineverse also took a moment to note the “improved performance” of Docurama, citing 42% growth during the quarter for the documentary streaming service.
Cineverse also explained how, since its release last fall, Terrifier 2 has generated over $11.2 million in revenue. A theatrical reissue of Terrifier 2 is planned for later this year, and Terrifier 3 is currently due for release late 2024.
In a separate announcement earlier today, Cineverse confirmed that Philo subscribers signed up to the Movies & More add-on now have access to its Fandor library at no additional cost.
