BondIt Media Capital and Cineverse form Unique and Innovative Partnership to Finance Film Distribution
Partnership to Be Used as a Model for Future Cineverse Film Projects
LOS ANGELES and SANTA MONICA, Calif., May 7, 2024/PRNewswire/ -- BondIt Media Capital has closed a new co-financing partnership with Cineverse (NASDAQ: CNVS), an innovative streaming technology and entertainment company. Through this deal, BondIt will provide financing to be used for North American production, acquisition, and/or distribution of film projects.
The first example of this financing is in support of the distribution for Cineverse and Bloody Disgusting's upcoming Terrifier 3, the third installment in the worldwide cult horror phenomenon featuring Art the Clown.
Terrifier 2, produced on a micro-budget, went on to generate over $15 million at the worldwide box office as a breakout hit in 2022. Following that success, Dark Age Cinema, along with The Coven, raised the production budget for Terrifier 3, set to come to theatres on October 11, 2024.
BondIt and Cineverse engaged in partnership discussions ahead of the newest installment of the horror franchise and have now closed financing that support Cineverse's domestic distribution rights for Terrifier 3, which wrapped production in April 2024 in New York.
"We're thrilled to be working with Chris, Gary, Yolanda and the full Cineverse team," said Matthew Helderman, BondIt Media Capital's CEO and Co-Founder. "Having worked with Cineverse a number of times over the years, the expansion of their business into larger tier projects like Terrifier 3 gave us the opportunity not only to partner on this genuinely exciting film that is the rare instance of an independent project breaking through to the broader zeitgeist in the current marketplace, but also across a larger slate of opportunities we're now gearing up for throughout the remainder of 2024."
Added Cineverse Chairman and CEO Chris McGurk, "Given Terrifier 2's success both at the box office, with passionate fans of slasher movies, and as a mainstream pop culture phenomenon, there has been a tremendous amount of excitement building for Terrifier 3 – named one of USA Today's Top 10 most anticipated horror films of 2024. We are grateful for the support from partners like BondIt that have put us in the advantageous position to have strong return on our investment in this franchise, along with Damien's unmatched creative genius."
BondIt Media Capital is coming off a market leading deal from Toronto with the Netflix acquisition on the Anna Kendrick directed and starring project Woman of the Hour which the company financed, and executive produced with AGC Studios last September. In addition, the company also racked up 2 Emmy wins for the BondIt financed and executive-produced film Street Gang: How We Got to Sesame Street for HBO.
About Cineverse
Cineverse's advanced, proprietary technology drives the distribution of over 71,000 premium films, series, and podcasts to more than 82 million unique viewers monthly. From providing a complete streaming solution to some of the world's most recognizable brands, to super-serving their own network of fan channels, Cineverse (NASDAQ: CNVS) is powering the future of Entertainment. For more information, please visit cineverse.com.
About BondIt
BondIt Media Capital is a world renown film, television, and media financier founded in 2013 by Matthew Helderman and Luke Taylor. BondIt has deployed over $500M of balance sheet capital across 450+ film, television, and media opportunities since inception.
BondIt projects include Oscar nominated Loving Vincent, the Emmy winning Street Gang: How We Got to Sesame Street for HBO, the Roland Emerich directed war epic Midway, the Indie Spirit winner The Peanut Butter Falcon, and projects Robert De Niro, Bruce Willis, John Travolta, Uma Thurman, Nicolas Cage, Arnold Schwarzenegger, Liam Neeson, Mel Gibson, Kevin James, Morgan Freeman, Jason Sudeikis, Kevin Smith, and Samuel L. Jackson resulting in over $500M+ of worldwide box office performances.
Contacts
Cineverse:
For Media
The Lippin Group, cineverse@lippingroup.com
For Investors
Julie Milstead, investorrelations@cineverse.com
BondIt:
Tim Healy, Tim@Buffalo8.com
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SOURCE Cineverse Corp.
