BondIt Media Capital forms co-financing partnership with Cineverse for film distribution
BondIt Media Capital has entered into a strategic co-financing partnership with Cineverse (NASDAQ: CNVS), a pioneering streaming technology and entertainment company. This collaboration is set to enhance North American production, acquisition, and distribution of film projects, starting with the support of the horror movie Terrifier 3.
Supporting the Distribution of Terrifier 3
The partnership marks its first venture with the financing of the distribution rights for Terrifier 3, the third installment in the cult horror series featuring Art the Clown. This follows the unexpected success of Terrifier 2, which, despite its micro-budget, grossed over $15 million worldwide, positioning it as a significant breakout in 2022. The upcoming Terrifier 3 is scheduled for release in theaters on October 11, 2024, and has already been named one of USA Today’s Top 10 most anticipated horror films of 2024.
Financial Details and Future Projects
The details of the financing deal were finalized following discussions that took place ahead of the new installment’s production, which concluded in April 2024 in New York. This partnership not only supports Cineverse’s domestic distribution rights for Terrifier 3 but also sets the stage for a larger slate of projects throughout the remainder of 2024.
BondIt Media Capital forges co-financing partnership with Cineverse for film distribution
Matthew Helderman, CEO and Co-Founder of BondIt Media Capital, expressed enthusiasm about the collaboration: “We’re thrilled to be working with Chris, Gary, Yolanda, and the full Cineverse team. 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 but also across a larger slate of opportunities we’re now gearing up for throughout the remainder of 2024.”
Comments from Cineverse Leadership
Cineverse’s Chairman and CEO, Chris McGurk, highlighted the anticipation surrounding Terrifier 3, noting the film’s success with both horror fans and mainstream audiences. “Given Terrifier 2’s success both at the box office and as a mainstream pop culture phenomenon, there has been a tremendous amount of excitement building for Terrifier 3. 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,” said McGurk.
Recent Successes and Industry Recognition
BondIt Media Capital is building on recent successes, including a market-leading deal with Netflix for the Anna Kendrick-directed Woman of the Hour, which BondIt financed and executive produced. Additionally, the company celebrated two Emmy wins for the BondIt financed and executive-produced film Street Gang: How We Got to Sesame Street for HBO.