Cinedigm (CIDM) Issues Letter to Shareholders, Outlines Continued Positive Business Momentum

Cinedigm Corp. (NASDAQ: CIDM) today released comments by Chairman and CEO Chris McGurk highlighting the Company's positive business momentum, growth trajectory, financial targets and plan for sustainable profitability and positive cash flow by the fiscal fourth quarter, ending March 31, 2023. This follows the recent reporting of very strong across-the-board financial results for the quarter and full 2022 fiscal year which ended March 31, 2022:

Dear Fellow Shareholders,

I believe it is important, following the recent release of Cinedigm's outstanding business and financial performance for the quarter and fiscal year ended March 31, 2022, to reach out to our shareholders to underscore that our go-forward growth prospects and business momentum are more positive than ever and that the Company is rapidly moving to a position of sustainable profitability and positive cash flow by the fourth quarter of this current fiscal year, ending March 31, 2023.

I want to reiterate how our vastly increased scale, following seven key roll-up acquisitions and a multi-year investment program in technology, streaming channels and content, has enabled Cinedigm to become an increasingly impactful player in the streaming content and technology business, and has set the stage for the Company to launch four key internal growth initiatives. We expect these initiatives, along with international business expansion, to generate incremental annual high margin revenues of over $50 million at steady state, with only minor added investment. In addition, the synergies and scale benefits from recently acquired assets will enable us to dramatically streamline our cost structure. We expect to generate at least $7.5 million in annual cost savings when we complete our streamlining this year.

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