CinemaNow has promoted to president Bruce Eisen, who acknowledged Feb. 16 that one of his goals is to groom the broadband video-on-demand company for an initial public offering.
(The Hollywood Reporter) -- CinemaNow has promoted to president Bruce Eisen, who acknowledged Feb. 16 that one of his goals is to groom the broadband video-on-demand company for an initial public offering.
CinemaNow already boasts some heavy-hitting investors, including Microsoft Corp., Cisco Systems, Blockbuster Inc., Lions Gate Entertainment and Menlo Ventures.
The company has broadband rights to 6,500 titles, including television shows, short films, independent movies and studio releases from Warner Bros., Walt Disney, Universal, Sony, 20th Century Fox and others.
So far, though, the company's most lucrative business sector is its adult-film content, Eisen said, adding that he expects CinemaNow to be profitable within the next two years.
Eisen joined CinemaNow in 1999 as its executive VP and is credited with spearheading distribution and marketing partnerships with Internet portal MSN, retail store chain Best Buy and phone company SBC Communications.
Before joining CinemaNow, Eisen spent a decade with Trimark Pictures, most recently as senior VP in charge of all things Internet related.
CinemaNow earns revenue by renting movies for an average $4 apiece for streaming or downloading to a computer hard drive for multiple viewings over a 24-48 hour period. The company also sells movie downloads for about $15 apiece and sells $10-per-month subscriptions that give users access to all content save for studio feature films and adult offerings.