Cos Cob, CT
Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE), one of the largest operators of streaming advertising-supported video-on-demand (“AVOD”) networks, today reported that it has increased distribution of its Crackle Plus AVOD streaming services to 70 touchpoints, ahead of internal plans. As a result, the Company is now expanding its planned distribution to 100 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 VOD 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. Expansion of Crackle Plus’s distribution is a key part of the Company’s broader strategy to drive more viewers to its streaming services.
“Our aim is to make our free movie and TV content available to all viewers on all available platforms, including streaming devices, game consoles, connected TVs and FAST networks,” said Philippe Guelton, president of Crackle Plus. “As we continue to add new distribution touchpoints, leverage our recently enhanced technology platform and develop both new AVOD and linear channel offerings, we continue to make it easier for consumers to find us and access the content they are looking for. In doing so, we are capturing a growing audience of unique consumers for our advertising partners across our portfolio of streaming service networks. Since our expansion in December, we have added agreements or launched new apps or FAST services with FireTV, Xumo, LG, LocalNow, Plex and Vizio and have recently averaged over 40 million MAU’s across Crackle Plus since 2021 year end.”
ABOUT CHICKEN SOUP FOR THE SOUL ENTERTAINMENT
Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) (the “Company”) operates streaming video- on-demand networks (VOD). The Company owns Crackle Plus, which owns and operates a variety of ad- supported and subscription-based VOD networks 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, 2020, filed with the SEC on March 31, 2021, and for further information regarding our recent acquisition of the Sonar library and related assets, please see our Current Reports on Form 8-K, as amended, filed with the SEC on May 27, 2021 and July 1, 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.