Cineverse Corp, a global streaming technology and entertainment company, said on Thursday that it had partnered with Whip Media, a leading enterprise software platform.
Through its Content Value Management platform, Whip Media will assist Cineverse in automating and more efficiently managing content partner royalty payments for its extensive distribution network.
Cineverse distributes content from hundreds of providers via its FAST/AVOD channels, SVOD service, TVOD/EST distribution and physical home entertainment products.
Cineverse’s rapid growth brought the need for a new system to scale and efficiently handle financial activities for the high volume of content partner contracts and licenses.
Cineverse will leverage the Content Value Management software platform to capture all contractual financial terms for every content provider and ingest performance and revenue data from Matchpoint Insights, which is part of the company’s proprietary suite of streaming technology products.
The CVM platform consolidates sales, performance and revenue data and can automate the calculation of royalties due to every provider and accurately generate royalty statements.
“Our partnership with Whip Media is critical as it helps fill a gap in our technology stack. We feel that developing financial-based software is not our core competency so partnering with Whip Media and leveraging their best-in-class technology allows us to address a significant unmet need in the rapidly growing streaming marketplace: an end-to-end solution from content ingestion and delivery all the way to reporting and payment,” Tony Huidor, Chief Operating Officer and Chief Technology Officer at Cineverse, said in a press release.
“This comes at a time when the legacy entertainment industry desperately needs to shift towards video-on-demand and FAST services, giving us the ability to scale quickly via automation and pave the way via an all-in-one solution,” the COO added.
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