Chicken Soup for the Soul Entertainment Announces Second Season of Crackle Original Series Going From Broke

Rhea-AI Summary

Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) announced the renewal of its original series Going From Broke for a second season, following a successful first season with 16 million views. The show aims to help young Americans address $1.5 trillion in student loan debt, providing tangible solutions for financial success.

Consisting of ten 30-minute episodes, the new season will be hosted by Dan Rosensweig, CEO of Chegg. The company emphasizes its commitment to educate viewers about overcoming financial challenges in an uncertain economic climate.

Positive

• Renewal of Going From Broke indicates strong viewer interest with 16 million views in the first season.
• The series targets financial education, addressing the $1.5 trillion student loan debt issue.

Negative

• None.

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 the second season of Crackle original series Going From Broke.

Following the success of the first season on Crackle with 16 million views, Chicken Soup for the Soul Entertainment has greenlit a second season of the series aimed at helping young people dig themselves out of debt and lay the groundwork for financial success.

As a nation, over 44 million Americans collectively owe $1.5 trillion in federal student loan debt, a number that grows each year and is second only to mortgage debt in America. “We plan to tackle this issue head on and educate people with tangible solutions to help end the cycle of debt that has burdened so many young people for far too long. It is now more critical than ever, as the adversities that we all currently face are having a disproportionate effect on so many people who were already struggling,” noted Ashton Kutcher, executive producer of the series.

The series will consist of ten 30-minute episodes that will be hosted by Dan Rosensweig, chief executive officer of Chegg, Inc. “Our country is going through an unprecedented time of economic uncertainty. College students and recent graduates are dealing with the weight of overwhelming student debt and now also face one of the worst job markets in recent memory,” said Rosensweig. “We intend to look beyond the numbers and explore the systemic issues that are causing the cycle of poverty, financial strain, and debt across the United States and help young people forge a path to financial freedom.”

“This show has already struck a chord with viewers, as is evident from the 16 million views of the first season,” said William J. Rouhana Jr., chief executive officer of Chicken Soup for the Soul Entertainment. “We are expecting the second season of the series to be even more compelling.”

Going From Broke is among the many original and exclusive programs available for free on Crackle, including Crown Vic, On Point, The Clearing, ’85: The Greatest Team in Football History, Wonders of the Sea, and Cooped Up.

Season 1 of Going From Broke is available for free on Crackle. Crackle is available in the U.S. and can be accessed on 25 devices and services including Amazon FireTV, RokuTV and devices, Apple TV, most 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 is a video-on-demand (VOD) joint venture formed by Sony Pictures Television and Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE). The company’s consumer facing ad-supported VOD (AVOD) channels include Crackle (US and Canada), Popcornflix, Popcornflix Kids, Truli, Popcornflix Comedy, Frightpix, and Espanolflix. It also owns subscription video-on-demand (SVOD) platform Pivotshare. Crackle Plus reaches over 40 million monthly visitors making it one of the largest AVOD streaming platforms in the U.S. Its content library includes over 78,000 hours of programming.

ABOUT SCREEN MEDIA VENTURES, LLC
Screen Media Ventures, LLC, a Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) company, acquires the rights to high quality, independent television series and feature films for the US and Canada. Screen Media Ventures acquires worldwide rights for distribution through theatrical, home video, pay-per-view, free, cable and pay television, video-on-demand, and new digital media platforms. The company acquires AVOD rights for third party networks and is the main supplier of content for Crackle Plus and other Chicken Soup for the Soul Entertainment properties. With a library of over 1,500 television series and motion pictures, Screen Media Ventures is one of the largest independent suppliers of high-quality TV series and motion pictures to U.S. and international broadcast markets, cable networks, home video outlets and new media venues. For more information, visit: www.screenmedia.net.

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

FAQ

What is the focus of the second season of <em>Going From Broke</em>?

The second season focuses on helping young Americans tackle student loan debt and achieve financial success.

When was the second season of <em>Going From Broke</em> announced by CSSE?

The second season was announced on June 22, 2020.

What is the expected episode count for the second season of <em>Going From Broke</em>?

The second season will consist of ten 30-minute episodes.

How many views did the first season of <em>Going From Broke</em> receive?

The first season received 16 million views.

Who will host the second season of <em>Going From Broke</em>?

Dan Rosensweig, CEO of Chegg, will host the second season.

What major financial issue does <em>Going From Broke</em> address?

The show addresses the $1.5 trillion in federal student loan debt in the U.S.