Future Today and Cinedigm terminate merger agreementMonday, March 16th, 2020
Future Today Remains Independent And Continues To Grow Rapidly Amidst AVOD Acquisition Craze
- Largest OTT publishing platform company and Cinedigm terminate merger agreement
MENLO PARK, Calif. — Future Today Inc., the largest OTT publishing platform, remains independent in the climate of AVOD streaming acquisitions such as Xumo and Pluto TV. The company’s merger agreement with Cinedigm has been terminated. Future Today has instead entered into a content licensing arrangement with Cinedigm to expand its content offering.
Future Today is reporting that February marked the best performance of its channels in its history, with users up almost 60% YOY and streaming hours up almost 70% YOY. In addition, Future Today recently announced an expansion of its distribution footprint with the launch of its popular channels – HappyKids, FilmRise, Fawesome and ifood.tv on Comcast Xfinity and LG. The company, which has a decade of experience in on-demand streaming, has recently added linear streaming capabilities to its technology stack. The company has grown over 500% since 2017 and continues to grow at a rapid pace.
According to a recent article in The Wall Street Journal, streaming AVOD channels with the inventory and revenue-generating potential of Future Today are capturing investor attention as viable acquisition targets to stake a claim in this actively growing category. For independent content owners seeking distribution venues, the field of options narrows each time a new AVOD network acquisition is announced. This uniquely positions Future Today as the only truly independent platform that can be used by both OEMs and content owners to quickly ramp up their streaming media services.
“The acquisition of streaming services by the big studios, which are focused on harnessing those assets to launch their brands, has made us a better fit and partner for large OEMs and entertainment companies looking for an entity to activate and monetize their video content,” said Vikrant Mathur, Co-Founder of Future Today. “An OEM seeking to launch 50 or even 100 channels on short order could do that quickly by using our assets, which are also already proven to attract audiences.”
A leader in the ad-supported streaming media universe with its flagship channels – Fawesome and HappyKids – Future Today ranks in the top free channels on the various OTT platforms. The company launched its first OTT channel in 2011 and has since then grown to operate more than 700 content channels with over 70 million app installs, and manages a library of more than 200,000 film, television and digital content assets in a variety of categories including entertainment, movies, food, lifestyle, animation and kids.
“We had a stellar year in 2019 and 2020 is on track to be even better,” said Alok Ranjan, Founder of Future Today. “We have significantly expanded our sales team, are leading the industry in adtech solutions and hired industry veteran David DiLorenzo to grow HappyKids, the biggest kids AVOD streaming service in the world. We’re thrilled to see that momentum continue throughout 2020.”