Cinedigm Corp. (NASDAQ:CIDM) Q3 2019 Earnings Conference Call - Final Transcript
Feb 13, 2019 • 04:30 pm ET
Jeffrey S. Edell
result of decreased interest cost due to much lower debt balance, the reduction in depreciation expense is system's continued offline, the full impact of our efforts to streamline our cost structure and improve margins from the performance of our content entertainment business, and the shift of our business more towards OTT streaming.
Our legacy cinema business -- equipment business continues to run-off as expected. Subsequent to the third fiscal quarter, we completed the sale of 311 digital cinema projection systems bringing the total number of systems sold to-date to 328. We expect to recognize significant revenues in the fourth quarter due to these sales. As I mentioned before, we are in the process of selecting the advisory firm with expertise in the area to help monetize the remaining available systems and expect to announce more sales in the coming months.
With that, I will now turn the call back to Chris.
Thanks, Jeff. In summary, we continue to make strong progress in expanding our OTT footprint by increasing our library of content and our channel portfolio and launching it across additional platforms. Our matchpoint services are rolling out and look to be a strong addition to our OTT product and revenue portfolio. We are also building our presence in the high growth, high margin AVOD market through new channels, platform partnerships and licensing deals as evidenced by our rapidly growing user base now 2.4 million monthly actives, up 370% versus last year. In addition, we continue to look for more smart and accretive acquisitions like ComicBlitz, Viewster and Viewster Anime that can further accelerate our growth curve.
And with that, we will now take any questions you may have. Operator?