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.