Cineverse Joins as a Founding Member to the Newly Formed Independent Streaming Alliance (ISA)
Industry leaders from ad-supported streaming television will work together to help build a healthy ecosystem that values independent voices & programming
LOS ANGELES, June 13, 2023 /PRNewswire/ -- The Independent Streaming Alliance (ISA) announced its official formation today with Cineverse (NASDAQ: CNVS) joining as a founding member. The ISA is a pro-competitive independent industry forum to proactively engage and work collaboratively with consumers, platforms, and media. Additional ISA founding members include Allen Media Group, Chicken Soup for the Soul Entertainment, Future Today, kweliTV, Revry, Scripps, Tastemade, TMB (Trusted Media Brands), and Vevo.
Together, the ISA founding companies offer over 2,200 independent streaming touchpoints, which generate more than half a billion hours of watch time every month, representing a diverse, highly engaged audience of consumers globally.
"The formation of the ISA marks a significant milestone for independent streamers," said Erick Opeka, President & Chief Strategy Officer at Cineverse. "With Cineverse as a founding member, we are committed to driving positive change and shaping the future of streaming. While major players in the industry are reducing their content offerings, our mission is to provide one of the most extensive content libraries available, as we work towards growing our audience and ensuring consumers have a wide array of options to choose from when it comes to their viewing preferences."
In addition to representing independent players, the alliance will also highlight and represent minority-owned businesses such as Allen Media Group, Future Today, and kweliTV, and will use its platform to advocate for more diverse programming and a more equitable playing field industrywide.
The ISA currently has three working groups including measurement, distribution, and demand, which all represent key areas of opportunity and challenge for independent streamers in the marketplace.
The Measurement working group will help establish the overall reach of alliance members and work to establish collective value for platforms and brand marketers, including working with 3P measurement providers, aggregating viewership, and jointly messaging the virtues of the alliance that promotes our value to platforms and brand marketers. The ISA has selected iSpot.tv as an audience and ad measurement partner to help quantify the total unique reach of the alliance and to lay foundations for utilizing iSpot's streaming and cross-platform measurement capabilities as a possible currency.
The Distribution working group is focused on developing and sharing best practices for growing audiences, while also working directly with platforms to ensure that there are fair business practices in place and an even playing field for everyone.
The Demand working group is focused on working with SSPs, DSPs, brands, and agencies to ensure its members' advertising may be purchased and sold seamlessly in compliance with industry norms, whether through direct IO or leading programmatic buying platforms.
The ISA will continue to recruit members across the spectrum of independent ad-supported video streaming services distributed on televisions and other connected devices.
Leaders from the ISA were on stage at the StreamTV show June 12th in Denver on a TVREV panel and will also appear on the Cynopsis Big TV show June 13th in NYC with iSpot for a panel on measurement. For more information and/or to apply to join the ISA, please visit www.independentstreamingalliance.com.
About Cineverse
Cineverse is a global streaming technology and entertainment company with one of the world's largest portfolios of owned and operated streaming channels, all powered by its advanced, proprietary technology platform. Cineverse currently features enthusiast brands for subscription video on demand (SVOD), advertising-based video on demand (AVOD) and free, ad-supported streaming television (FAST) channels. Cineverse entertains consumers around the globe by providing premium feature film and television series, enthusiast streaming channels and technology services to some of the world's largest media, retail and technology companies. For more information, please visit www.cineverse.com.
Press Contacts for Cineverse:
For Media
The Lippin Group for Cineverse
cineverse@lippingroup.com
For Investors
Cineverse
Julie Milstead
424-281-5411
investorrelations@cineverse.com
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SOURCE Cineverse Corp.
