The digital media company Cinedigm has acquired Fandor, which is an older streaming service focused on independent films. Cinedigm plans to significantly expand Fandor by planning to “reach seven figure subscriber levels within the next 24-30 months,” the organization said in a press release.
This service will be led by founder and president of The Film Detective Phil Hopkins. This is another service that was acquired by Cinedigm just last month. The plan is to bring all of these services and film libraries together into one big home for independent films.
In addition to its film catalogue, the service will have a free section, similar to Peacock or what Hulu had nearly a decade ago. This section is an ad-based tier where individuals can watch for free, but must watch advertisements. The next tier is ad-free and allows the customer to watch without any distractions, similar to the model most streaming services use today.
In a time where there seems to be a new streaming service every month, it is important for these companies to have a vast film vault that they can keep expanding on. Cinedigm believes they have it here. Erick Opeka, Chief Strategy Officer and President of Cinedigm Networks stating, “The paradox of the streaming revolution is that it has never been harder to discover classic, essential and new independent and foreign films.” While they feel like there is ample competition in terms of streaming services, they are offering something unique compared to these larger companies churning out studio products.
Only time will tell if this rebooted Fandor will be able to compete with heavy hitters such as Netflix(who just passed 200 Million Subscribers) and Hulu, but this is certainly an exciting time for movie lovers of all kind. The service will curate the films and attempt to give customers a unique experience.