Future acquires digital entertainment publisher CinemaBlend

Specialist media company Future announced the acquisition of digital entertainment publisher CinemaBlend on Friday.

The London-listed firm described the US-based CinemaBlend as a high-growth digital brand focused on the television, film and entertainment market.

Through its website, podcast series, social media channels and newsletters, it provides a platform for enthusiasts and casual fans to discover, explore and discuss films and television shows, both on streaming services such as Netflix and linear TV such as HBO.

The brand's website reached 19.4 million monthly unique visitors over the first six months of 2020, representing growth of 118% year-on-year.

CinemaBlend generated revenue of $3.1m in the year ended 31 December 2019, up from $2.7m in the previous year, and saw “significant” online growth since the start of 2019.

In 2020, CinemaBlend continued to perform well, with the impact of Covid-19 increasing appetite for advice on what to watch on TV, resulting in 28 million sessions in June 2020 alone.

The board said the acquisition would expand Future's reach of 46 million online users in its TV and film, and games and entertainment verticals, particularly in the US.

It would also provide an opportunity to accelerate the development of its recently-launched website Whattowatch.com, by establishing a strong market position from which to grow both online brands, as well as benefiting from collaboration, content sharing and new expertise.

Future said the acquisition would also present opportunities for it to further diversify the brand's online revenue streams by deploying its proprietary technology platform, including its price comparison technology Hawk and its advertising technology Hybrid.

“We are delighted to be adding CinemaBlend to our portfolio of leading entertainment brands,” said chief executive officer Zillah Byng-Thorne.

“CinemaBlend is a great cultural fit for Future, producing content we are passionate about.

“The acquisition materially expands our market share within the TV and film and games and 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.”

At 1253 BST, shares in Future were down 0.61% at 1,940p.