11:12am PT by Graeme McMillan
Digital Comics Platform ComicBlitz Acquired by Cinedigm
Digital comic platform ComicBlitz, which launched in 2016 as a self-styled “Netflix of digital comic books,” has been acquired by Cinedigm in a deal that could potentially turn the startup into a significant player in the digital comics space.
According to Cinedigm, the deal — terms of which weren’t publicly disclosed — is likely to close before the end of the year, with the platform being projected to earn up to $5 million in revenue within 18 to 24 months of closing. Cinedigm plans to push the platform — currently available in 133 countries, with a catalog of around 10,000 comic books from publishers including IDW, Valiant, Lion Forge and Dynamite Entertainment — as a licensed offering for mobile carriers and other media companies, including its own OTT video services.
As part of the agreement, ComicBlitz founder and CEO Jordan Plosky will join Cinedigm’s Digital Networks team. In a statement Wednesday, he described himself as “beyond excited” about the deal: “Cinedigm gives ComicBlitz unprecedented support and an incredible opportunity to reach a large and enthusiastic audience, which is invaluable and extremely rare for a digital comic book company to receive. I truly believe this is a milestone moment not only for comic readers, but for the comics industry as a whole.”
Added Cinedigm Digital Networks president Erick Opeka: “From blockbuster films to hit television series, comic books are at the heart and soul of the modern entertainment landscape and passionately loved by consumers worldwide. ComicBlitz’s product exemplifies exactly what we are accomplishing at Cinedigm — providing compelling digital products to global customers that speak to their passions. We’re thrilled to add ComicBlitz to our growing roster of content and service offerings, and we look forward to bringing Jordan’s relentless entrepreneurial spirit to Cinedigm.”
The concept of a “Netflix for comics” is a common idea in the digital comic space, with the label applied to multiple offerings to date. The sticking point in execution has been the range of content available, with no service as yet including material from both Marvel and DC, the two biggest publishers in the Western comic market. (Both are available via different proprietary services, Marvel Unlimited and DC Universe.)