(Alliance News) - Future PLC on Friday said it has acquired US-based digital entertainment publisher CinemaBlend as part of the company's plan to expand online reach in TV & Film and Games & Entertainment business sectors.
No financial details of the acquisition were disclosed.
The FTSE 250-listed magazine publisher said the buyout will diversify online revenue streams and accelerate the development of recently launched website Whattowatch.com.
Future Chief Executive Officer Zillah Byng-Thorne said: "The acquisition materially expands our market share within the TV & Film and Games & Entertainment verticals in the US, and provides us with a range of opportunities to continue to drive the brand's growth organically by leveraging our proprietary technology platform."
CinemaBlend is a digital publisher focused on the TV, film and entertainment market. Through its website, podcast series, social media channels and newsletters, CinemaBlend provides a platform to discover, explore and discuss films and TV shows,
The brand's website, Cinemablend.com, reached 19.4 million monthly unique visitors over the first six months of 2020. CinemaBlend generated revenue of USD3.1 million in 2019, up from USD2.7 million in the previous year.
Bath-based Future said CinemaBlend has continued to perform well in 2020 with the impact of Covid-19 increasing appetite for advice on what to watch on TV, resulting in 28 million sessions in June alone.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Future (FUTR)
