Chicken Soup for the Soul Entertainment Announces Major Distribution Expansion for Crackle Plus on VOD and Linear Services

Rhea-AI Summary

Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) has announced major distribution expansions for Crackle Plus, launching linear services alongside its VOD offerings. New distribution agreements have been made with Plex, Xfinity Flex, and FuboTV, with a goal of securing up to 10 partnerships this year. With 47% of U.S. consumers intending to add an AVOD service soon, the company seeks to attract an additional 33 million potential customers. Crackle now supports 25 devices and is accessible in approximately 500,000 hotel rooms.

Positive

• New distribution deals with Plex, Xfinity Flex, and FuboTV enhance Crackle Plus's visibility.
• Plans to secure up to 10 total distribution partnerships this year.
• 47% of U.S. consumers are looking to add AVOD services, indicating market growth potential.
• Access to an estimated 33 million untapped customers interested in Crackle.

Negative

• None.

Initial Agreements Made with Plex, Xfinity Flex, and FuboTV With Plans to Add More   

Company Launches Linear Services in Addition to VOD Services

COS COB, Conn., June 22, 2020 (GLOBE NEWSWIRE) -- Chicken Soup for the Soul Entertainment Inc. (Nasdaq: CSSE), one of the largest operators of streaming advertising-supported video-on-demand (AVOD) networks, today announced major distribution expansion for Crackle Plus. The expansion will include  new services and devices as well as the first Crackle and Popcornflix linear channels.

At today’s NewFronts presentation, Crackle Plus will announce that it has signed distribution deals with Plex, Xfinity Flex, and FuboTV this month and is targeting up to 10 total distribution partnerships for the year.

“We are excited to continue to expand the devices and services on which consumers can watch our networks and to introduce the first linear channels for Crackle and Popcornflix,” said Philippe Guelton, president of Crackle Plus. “Our networks are free to use and have high quality programming, including original and exclusive titles that cannot be viewed on any other network. We are thrilled to continue expanding the places Crackle Plus networks can be watched as well as providing our viewers with a choice of a linear or VOD experience.”

Mr. Guelton continued, “With 47% of U.S. consumers planning to add an AVOD service in the next 12 months¹, and as a backlash to the increasing costs of SVOD, Crackle and Popcornflix are natural destinations for audiences looking for free premium streaming content. A recent study uncovered 33 million additional untapped customers who have indicated interest in using Crackle². We want to make it as easy as possible for these new viewers to find us.”

Crackle is available in the U.S. and can be accessed on 25 devices and services including Amazon FireTV, RokuTV, Apple TV, Smart TVs (Samsung, LG, Vizio), gaming consoles (PS4 and XBoxOne), on iOS and Android mobile devices and on desktops at Crackle.com. Crackle is also available in approximately 500,000 hotel rooms in the Marriott Bonvoy chain.

ABOUT CHICKEN SOUP FOR THE SOUL ENTERTAINMENT
Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) operates streaming video-on-demand networks (VOD). The company owns a majority stake in Crackle Plus, a company formed with Sony Pictures Television, which owns and operates a variety of ad-supported and subscription-based VOD networks including Crackle, Popcornflix, Popcornflix Kids, Truli, Pivotshare, Españolflix and FrightPix. The company also acquires and distributes video content through its Screen Media subsidiary and produces original long and short-form content through Landmark Studio Group, its Chicken Soup for the Soul Originals division and APlus.com. 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.    

ABOUT CRACKLE PLUS
Crackle Plus owns and operates ad-supported VOD networks Crackle and Popcornflix and garners 50 million streams of its movies and TV shows per month, making it one of the largest AVOD streaming platforms in the U.S. Crackle Plus has over 78,000 hours of content available across all its networks, and premieres at least one original and one exclusive program each month, differentiating it from other AVODs. Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) owns a majority stake in the company formed with Sony Pictures Television. Chicken Soup for the Soul Entertainment also acquires and distributes video content through its Screen Media subsidiary and produces original long and short-form content through Landmark Studio Group, its Chicken Soup for the Soul Originals division and APlus.com. 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.

FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks (including those set forth in the Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 30, 2020 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, filed with the Securities Exchange Commission on May 14, 2020) and uncertainties which could cause actual results to differ from the forward-looking statements. The company expressly disclaims any obligations 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. Investors should realize that if our underlying assumptions for the projections contained herein prove inaccurate or that known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections.

INVESTOR RELATIONS
Taylor Krafchik
Ellipsis
csse@ellipsisir.com
(646) 776-0886

MEDIA CONTACT
Kate Barrette
RooneyPartners LLC
kbarrette@rooneyco.com
(212) 223-0561

1.Source: IAS, The Impact Of Stay At Home Behavior on CTV, April 2020)
2.Source: Crackle Audience Study: 2020 Growth and White Space Opportunities – January 2020

FAQ

What distribution agreements did CSSE announce for Crackle Plus in 2020?

CSSE announced new distribution agreements with Plex, Xfinity Flex, and FuboTV for Crackle Plus.

How many distribution partnerships is CSSE targeting for Crackle Plus?

CSSE is targeting up to 10 total distribution partnerships for Crackle Plus this year.

What percentage of U.S. consumers plan to add AVOD services?

47% of U.S. consumers plan to add an AVOD service in the next 12 months.

How many potential customers has CSSE identified for Crackle?

CSSE has identified 33 million additional untapped customers interested in using Crackle.