Los Angeles, CA – Cineverse Corp. held its Q4 2024 Earnings Conference Call on July 1, 2024, at 4:30 PM ET. The call featured key company participants, including Gary Loffredo, the Chief Legal Officer, Secretary, and Senior Advisor; Chris McGurk, Chairman, and Chief Executive Officer; Mark Lindsey, Chief Financial Officer; and Erick Opeka, President, and Chief Strategy Officer. The conference call, which was recorded, included a question-and-answer session following management’s prepared remarks.
During the call, Gary Loffredo, the host, discussed Cineverse’s fiscal 2024 fourth quarter and year-end financial results. He highlighted the company’s transition year and drive towards sustained profitability, resulting in improved operating margins and growing adjusted EBITDA. Chris McGurk, Chairman, and CEO, then detailed the company’s highlights, operational developments, outlook, and long-term growth strategy for fiscal year 2024. Mark Lindsey followed with a review of the financial results, showcasing positive trends in operating margins and adjusted EBITDA.
The company’s focus on streaming business results and operational initiatives was elaborated on by Erick Opeka, President, and Chief Strategy Officer. Opeka discussed the market environment, growth initiatives, and the potential for significant revenue upside. Specific attention was given to Matchpoint, Cineverse’s proprietary streaming technology platform, which is seeing strong demand and providing a clear competitive advantage in the AI training data space. Additionally, Opeka highlighted the company’s podcasting business, emphasizing its growth potential and contribution to future revenue.
Overall, Cineverse’s financial performance in Q4 2024 was positive, with total revenues of $9.9 million for the quarter and $49.1 million for the fiscal year. Subscription-based revenues increased, driven by the success of enthusiast streaming services, while advertising-based revenues saw a decline due to channel optimization efforts. The company’s efforts to achieve sustainable profitability in streaming were reflected in improved direct operating margins and continued cost savings initiatives.
Looking ahead, Cineverse is focused on expanding distribution, enhancing content offerings, and capitalizing on new revenue streams. The upcoming release of Terrifier 3, a highly anticipated horror film, presents a significant opportunity for the company to leverage its unique strengths and drive continued growth. With a strategic focus on technology, streaming, and content initiatives, Cineverse remains well-positioned for future success and value creation in the evolving media landscape.
