Business
Cineverse Reaches Agreement to Integrate Whip Media's Content Partner Payments Platform for FAST, AVOD, SVOD and EST into Matchpoint Insights to Streamline Royalty Reporting
Integration into Matchpoint Insights will Allow Cineverse to Automate Processing of Content Partner Payments to Over 1,700 Licensors Across FAST, AVOD, SVOD,
About this update from Cineverse Corp.
[{"type":"text","content":"Integration into Matchpoint Insights will Allow Cineverse to Automate Processing of Content Partner Payments to Over 1,700 Licensors Across FAST, AVOD, SVOD, and TVOD\nLOS ANGELES, Sept. 21, 2023 /PRNewswire/ -- Cineverse Corp. (NASDAQ: CNVS), a global streaming technology and entertainment company with one of the world's largest portfolios of streaming channels and content libraries, announced today a partnership with Whip Media, the leading enterprise software platform and data provider to the world's largest entertainment organizations. Using its Content Value Management (CVM) software platform, Whip Media will help Cineverse automate and more efficiently manage content partner royalty payments for its expansive distribution network across Cineverse direct and third-party platforms.\n\n \n \n \n \n \n \n\n \nCineverse distributes content from hundreds of content providers through its FAST/AVOD channels, SVOD service, TVOD/EST distribution and physical home entertainment products.\nThe rapid growth of Cineverse required a new system to scale and efficiently handle financial activities for the high volume of content partner contracts and licenses, such as royalty calculations, revenue statement generation and issuance of payment to partners on a monthly and quarterly basis. Currently, Cineverse must create over 1,700 complex financial statements per quarter which require significant manual effort to manage.\nCineverse will leverage the CVM Platform for Content Partner Payments to capture all contractual financial terms for each content provider, and ingest performance and revenue data from Matchpoint Insights – part of Cineverse's proprietary suite of streaming technology products. By consolidating sales, performance, and revenue data, CVM can automate the calculation of royalties due to each provider and accurately generate royalty statements. What has historically been a manual process will be transformed into a highly scalable solution that radically reduces costs, increases efficiency, and improves accuracy.\n\"We're excited to partner with Cineverse, an entertainment technology and streaming trailblazer that has created an innovative solution that eliminates the expensive, time-consuming manual process required for preparing film and television assets for broad global distribution,\" said Saj Jayasinghe, Whip Media's EVP o...