Fueled by Hit Entertainment, Horror, and True
Crime Shows, Network Ranks #8 in North
America for Listeners and #17 for Downloads &
Streams
Exciting New Shows and Expanded Ad Sales Team
Poised to Drive Further Growth
LOS
ANGELES, May 9, 2024 /PRNewswire/ -- Cineverse
Podcast Network, the audio powerhouse behind some of the most
captivating entertainment, horror, and true crime podcasts, has
achieved a new milestone, attracting 9.6 million unique listeners
and generating 12.7 million downloads and streams in April 2024. This impressive growth has propelled
the network to the #8 spot in North
America for listeners, sandwiched between industry giants
The New York Times and The Walt
Disney Company, and #17 for downloads and streams.
The network's success can be attributed to its ever-expanding
slate of gripping content, including top series like The Dead,
Murder in America, and Creepy. In addition to the Dead
Space podcast released in partnership with Electronic Arts' Motive
Studio that is already tearing up the charts, fans can look forward
to the highly anticipated second season of the Apple Podcasts 2023
top fiction pick, Mayfair Watchers Society, set to premiere on
May 30th. Other upcoming releases
include Nightmare Soup in June and Shelterwood on
August 15th.
This growth is happening under the direction of the Cineverse
Podcast Network's Managing Director of Audio Tom Owen and Head of Original Programming
Pacific Obadiah, who were named to these new positions in
November 2023.
Cineverse Podcast Network Highlights:
- Revenue surge: 49% increase as of April 30, 2024, compared to the previous 60
days
- Advertiser appeal: Leading brands, including movie
studios, leverage the network's unique opportunities through
host-read ads, programmatic, and custom branded episodes
- Expansion plans: Video-first podcasts for YouTube and
Spotify Video, plus new shows under the RetroCrush (anime) and
Midnight Pulp (cult films and TV shows) brands
- Strengthened ad sales team: Newly appointed head of ad
sales, Terry City, along with additional west coast and midwest
sales representatives, to drive monetization of rapidly increasing
ad inventory
- Publisher development: Added resources to expand
publisher development efforts, resulting in the addition of 14
high-performing podcasts over the last two quarters
"Momentum is on our side, having passed 12 million monthly
downloads, increased the number of shows to more than 40 and nearly
doubled our revenue due to advertisers recognizing the unique
opportunities we bring to their brands -- from movies to retail to
apparel," said Owen. "By leaning into video, something that our
brands like Bloody Disgusting and SCREAMBOX are known for, and
expanding our original shows into anime with RetroCrush and cult
films and TV shows with Midnight Pulp, with more to follow, we are
only getting started."
Erick Opeka, President & CSO
of Cineverse, added, "The company is focused on increasing our
downloads and streams to over 20 million per month by the end of
the fiscal year, and becoming a top five podcast network by unique
audience within the next 18-24 months. Given the sizable upside to
monetization, our podcast network has emerged as the next key
high-growth revenue stream for the company."
With a library of over 40 shows catering to every entertainment,
horror, and true crime enthusiast and exciting plans for growth,
Cineverse Podcast Network is cementing its position as the ultimate
destination for captivating audio content.
Based on data from Spotify's Megaphone platform &
internal company data on additional streams from April 1 - 30, 2024.
About Cineverse
Cineverse's advanced, proprietary technology drives the
distribution of over 71,000 premium films, series, and podcasts to
more than 82 million unique viewers monthly. From providing a
complete streaming solution to some of the world's most
recognizable brands, to super-serving their own network of fan
channels, Cineverse (NASDAQ: CNVS) is powering the future of
Entertainment. For more information, please visit
cineverse.com.
Press Contact:
For Media
The Lippin Group, cineverse@lippingroup.com
For Investors
Julie Milstead, investorrelations@cineverse.com
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SOURCE Cineverse Corp.