Cinedigm Buys Fandor Indie Film Streaming Service

Fandor - Film Service
Courtesy of Fandor

The deal expands Chris McGurk's digital media company in the online space and includes a planned relaunch of Fandor to get to 1 million subscribers in "the next 24-30 months.”

Digital media company Cinedigm Corp. is to acquire the Fandor indie film streaming service as it expands its presence in the online space.

Terms of the deal were not disclosed, but Chris McGurk's digital venture is acquiring Fandor's library of independent films, documentaries and international features with, in all, around 4600 titles. Cinedigm aims to leverage its own content library, technology and distribution abilities to expand Fandor's content offering, while also relaunching the service's apps and increasing its distribution worldwide.

In a statement, the company said a reboot of Fandor was expected to get the streaming service to 1 million subscribers in "the next 24-30 months.”

Cinedigm will also continue to offer the Fandor service ad-free, but plans a free, ad-supported on-demand tier as well as a linear streaming channel to expand the streamer's audience reach.

"This acquisition of Fandor, coming on the heels of our Film Detective acquisition, solidifies Cinedigm's position as the leading global streaming company for independent films," McGurk, Cinedigm Chairman and CEO, said in a statement. Cinedigm got its start helping smaller theater chains convert to digital projection, but has since expanded into operating OTT channels and providing premium feature films and series to digital platforms.

McGurk, a Hollywood veteran who spent years in the studio system at Disney, Universal and MGM, joined the company in 2011.

With Fandor, Cinedigm plans to draw from over 7,000 film titles in its own library, including thousands of classic, cult and foreign titles from the streaming service The Film Detective acquired in Dec. 2020.

And Cinedigm will relaunch Keyframe, Fandor's web and video-based publication covering the art of cinema. Phil Hopkins, president of Cinedigm's Film Detective division, will oversee Fandor and Keyframe.

"As a key element of our recently announced streaming rollup strategy, Fandor will immediately benefit from our streaming distribution muscle, huge library of independent films, Matchpoint technology, cost savings and infrastructure and synergies with our wide portfolio of enthusiast streaming channels," Erick Opeka, chief strategy officer and president of Cinedigm Networks, said in a statement.