NEW YORK, N.Y.
Amagi, a global leader in cloud-based SaaS technology for broadcast and connected TV, today announced a Connected TV (CTV) ad inventory agreement with leading streaming platform and content owner Crackle Plus, a Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) company, and one of the largest operators of streaming advertising-supported video-on-demand (AVOD) streaming services.
Amagi’s ADS PLUS is one of the largest first-party ad platforms in the CTV advertising landscape, supporting over 700 content brands on 2,000+ channels and delivering over 50 billion ad impressions. The massive supply of premium CTV inventory caters to the needs of both buyers and sellers through a unified CTV ad marketplace, backed by its proprietary advanced ad insertion technology and progressive ad technology.
The deal between Amagi and Crackle Plus signals the industry interest in a new form of advertising agreement in the CTV marketplace: one that highlights the monetization opportunities for content owners and platforms in the CTV ecosystem as advertisers look to shift their ad budgets from traditional cable to fast-growing ad-supported streaming models.
“The CTV advertising marketplace is bursting with untapped potential, and Amagi is one of the few ad solutions providers with a 360-degree view of the entire landscape”, says Philippe Guelton, president of Crackle Plus. “By working with them, we can now offer our advertising partners additional reach and targeted ad deliveries in a curated, brand-safe environment.”
“Crackle Plus has done a great job taking its premium CTV ad inventory to agencies and brands. By extending their audience through Amagi ADS PLUS, Crackle Plus will increase its direct and programmatic ad sales and gain scale within premium channels that audiences know and love,” says James M. Smith, executive vice president and general manager of Amagi ADS PLUS. “We’re glad to have had an opportunity to expand our ongoing relationship with Crackle Plus in this exciting new direction.”
The Crackle Plus streaming services are currently distributed through 70 touchpoints in the U.S. on platforms including Amazon FireTV, RokuTV, Apple TV, Smart TVs (Samsung, LG, Vizio), gaming consoles (PS4 and Xbox One), Plex, iOS and Android mobile devices and on desktops at Crackle.com, with previously announced plans to expand to over 90 touchpoints. Crackle is also available in approximately 500,000 hotel rooms in the Marriott Bonvoy chain.
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 and the award-winning BBC series Sherlock, starring Benedict Cumberbatch and Martin Freeman. They also recently announced season three of the award-winning series Going From Broke.
Amagi provides a complete suite of solutions for channel creation, distribution, and monetization. Amagi clients include ABS-CBN, A+E Networks UK, beIN Sports, Curiosity Stream, Discovery Networks, Fox Networks, Fremantle, Gusto TV, NBCUniversal, Tastemade, Tegna, USA Today, Vice Media and Warner Media, among others.
For more information about Amagi and its streaming TV solutions, visit www.amagi.com.
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute and monetize live linear channels on Free-Ad-Supported TV and video services platforms. Amagi also offers 24x7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 650+ content brands, 800+ playout chains, and over 2000 channel deliveries on its platform in over 40 countries. Amagi has a presence in New York, Los Angeles, Toronto, London, Paris, Singapore, broadcast operations in New Delhi, and an innovation center in Bangalore.
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.