COS COB, CT
Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE), one of the largest operators of advertising-supported video-on-demand (AVOD) streaming services today reported that it has increased distribution of its Crackle Plus AVOD streaming services to 85 touchpoints, ahead of internal plans. As a result, the company is now expanding its planned distribution to 110 touchpoints, with a goal of reaching 90 in calendar 2022.
The Crackle Plus streaming services, including Crackle, Popcornflix and the recently launched Chicken Soup for the Soul, are available on a variety of platforms and services as both linear and video-on-demand offerings. Crackle Plus streaming services are always free and offer a wide selection of hit movies and TV series, as well as original and exclusive programming. The recent growth in touchpoints has been partially driven by the company’s acquisition of 1091 Pictures and their streaming channels SurfNow TV, BlackPix, Unidentified and EchoBoom. The Crackle Plus distribution expansion is a key part of the company’sbroader strategy to drive more viewers to its streaming services.
“Our goal is to make our free entertainment content available to everyone on every possible platform, whether it’s streaming devices, game consoles, connected TVs or our growing stable of linear FAST channels,” said Philippe Guelton, president of Crackle Plus. “As we continue to grow the number of distribution touchpoints, our goal is to make it that much easier for consumers to find the content they’re looking for in the most seamless way possible. In doing so, we’re capturing an expanding audience of unique consumers for our advertising partners across our growing portfolio of streaming services. Since our expansion in March, we have added agreements or launched new apps or FAST services with Fubo, Local Now, Samsung, and VIZIO and have also recently signed agreements with TCL, Roku, and Olympusat.”
Crackle Plus’ recent releases include the exclusive scripted series Les Norton, which stars Alexander Bertram and Rebel Wilson, Tia Mowery’s Comfort Kitchen, the suspense thriller Blast, Inside the Black Box, hosted by Joe Morton, the thriller series In the Vault and the award-winning BBC series Sherlock, starring Benedict Cumberbatch and Martin Freeman.
ABOUT CHICKEN SOUP FOR THE SOUL ENTERTAINMENT
Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) (the “Company”) operates video-on-demand (VOD) streaming services. The Company owns Crackle Plus, which owns and operates a variety of ad- supported VOD streaming services including Crackle, Chicken Soup for the Soul, Popcornflix, Popcornflix Kids, Truli, Pivotshare, Españolflix and FrightPix. The Company also acquires and distributes video content through its Screen Media and 1091 Pictures subsidiaries and produces original video content through the Chicken Soup for the Soul Television Group. Chicken Soup for the Soul Entertainment is a subsidiary of Chicken Soup for the Soul, LLC, which publishes the famous book series and produces super-premium pet food under the Chicken Soup for the Soul brand name.
This press release includes forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are statements that are not historical facts. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Such assumptions involve a number of known and unknown risks and uncertainties, including but not limited to our core strategy, operating income and margin, seasonality, liquidity, including cash flows from operations, available funds, and access to financing sources, free cash flows, revenues, net income, profitability, stock price volatility, future regulatory changes, price changes, the ability of the Company’s content offerings to achieve market acceptance, the Company’s success in retaining or recruiting officers, key employees, or directors, the ability to protect intellectual property, the ability to complete strategic acquisitions, the ability to manage growth and integrate acquired operations, the ability to pay dividends, regulatory or operational risks, and general market conditions impacting demand for the Company’s services. For a more complete description of these and other risks and uncertainties, please refer the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 31, 2022, and the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, filed with the SEC on May 11, 2022. On May 10, 2022, the Company entered into a merger agreement to acquire Redbox Entertainment, Inc. We refer you to the presentation filed as Exhibit 99.2 under cover of a Current Report on Form 8-K filed by the Company with the SEC on May 22, 2022 for information regarding the proposed business acquisition transaction. If the proposed business acquisition is consummated, in addition to the risks noted above, we also face the risks detailed in Redbox’s Annual Report on Form 10-K for the year ended December 31, 2021. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.