Cinedigm Corp. has changed its name to Cineverse Corp., a move the company said is designed to better reflect its evolution into a streaming content and technology business.

To go with the new name, the West Los Angeles-based firm changed its ticker symbol from CIDM to CNVS. Its shares began trading under the new symbol on the Nasdsaq Capital Market on May 23.

Christopher McGurk, chief executive of Cineverse, said the company has come a long way from 10 years ago, when it specialized in digital innovation within the cinema industry.

With the name change announcement on May 22, it turns the page to become a pure-play business in the streaming content and technology space, McGurk said.

“Our mission is to give audiences a level of access like never before to the vast universe of film and television entertainment through the power of our proprietary technology and the breadth of our content offerings,” McGurk said.

“We plan to continue expanding our media library, currently at over 60,000 titles and growing rapidly, so that we have more compelling content and streaming channels to offer audiences than any other player in the entertainment business,” he added.

The company also operates a podcast network with an estimated 70 million downloads across 28 shows. 

Cineverse is also the name of the company’s flagship streaming channel, available on Roku, Apple and Android apps, as well as on Samsung smart televisions sets.

At the center of the Cineverse streaming channel is a lineup of free, ad-supported streaming television linear channels that showcase Cineverse-owned and managed channels including The Bob Ross Channel, The Country Channel, CONtv, Docurama, The Dove Channel and The Elvis Presley Channel.

With more than 22,000 titles, Cineverse is the sixth-largest video streamer in the world by number of titles, with a library more extensive than that of Netflix, Hulu and Paramount+, the company’s release said.

Erick Opeka, chief strategy officer and president of Cineverse, said that that the company was thrilled about adopting the Cineverse name and consolidate its overall corporate identity under one brand.

A key part of the company’s vision is to celebrate culture through entertainment, storytelling and innovation, and it was already doing that through its channel portfolio, where it provides a platform for storytellers to connect with communities of fans with content they often cannot find elsewhere as other streaming services cut back on their content offerings, Opeka said.

“We invite fans to discover more stories with more ways to watch – to satisfy any content craving, mood, budget or fandom,” Opeka added.

Having fully moved beyond its legacy digital cinema business at the end of its fiscal year on March 31, McGurk said that he believed a new company name more accurately reflects the company’s business as it stands – a leading brand at the intersection of entertainment and innovation.

“We believe our expanding media library and proprietary Matchpoint streaming technology and content distribution platform will allow us to transform the way people interact with the stories they love and bring a growing universe of compelling content and channels to the broadest audience possible,” McGurk said.