Chicken Soup for the Soul Entertainment’s India Production Subsidiary Locomotive Global Sees Growth Through Recent Deals With Netflix, All3Media and Endemol Shine

Rhea-AI Summary

Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) announced that its production subsidiary, Locomotive Global, has secured a second season for the hit series Rana Naidu, which swiftly became India’s leading streamed series and reached Netflix’s Global Top 10 for Non-English TV shortly after its launch. The company is expanding its content portfolio with several new projects, including the Indian adaptation of Undercover Boss and a high-quality procedural series in collaboration with Applause Entertainment and Case Closed Entertainment. Locomotive Global is also developing a range of South Indian language projects and has plans for an Indo-Western thriller. The growing demand for original content in India positions the company well in the competitive landscape of streaming services.

Positive

• Secured a second season for Rana Naidu, which became India's number-one streamed series.
• Signed a deal to bring Undercover Boss to India, expanding content offerings.
• Developing multiple original series and adaptations, enhancing content diversity.
• Investing in South Indian language films and series to capture diverse audience segments.

Negative

• None.

Rana Naidu was greenlit for a second season with Netflix after the first season quickly rocketed to the number one series in India

Company recently signed a deal to bring the hit series Undercover Boss to India

COS COB, Conn.--(BUSINESS WIRE)-- Chicken Soup for the Soul Entertainment’s (NASDAQ: CSSE) production subsidiary in India – Locomotive Global – today provided an update on its rapidly growing original operations. The company’s popular series Rana Naidu has received a greenlight from Netflix India for a second season. The series' first season was extremely popular – and quickly became India's number-one streamed series shortly after launching – and trended in Netflix’s Global Top 10 for Non-English TV two weeks after it launched.

Locomotive Global also recently signed deals with the following:

• All3Media – The company acquired the rights to bring the popular unscripted series Undercover Boss to India
  
  
• Applause Entertainment (India) and Case Closed Entertainment – Partnered to create a high-quality episodic procedural series for India. Simon Mirren from Cased Closed Entertainment previously created the series Spooks, Versailles, and Without a Trace and was the Showrunner of Criminal Minds. The series is also produced by Ben Anderson of Case Closed Entertainment
  
  
• Acquired the rights to the British series I’ve Created a Monster – Through a deal with Chudor Entertainment, the company is producing an Indian adaptation of this original British series written by Terry Clark
  
  
• Development of TV Town – Locomotive Global is creating a drama series set in the early years of cable television in India. It tells the story of the emergence of an entire nation as it shrugs off decades of isolationism and liberalizes its culture and economy. The company secured the rights to the book The Making of Star India, which will be used as a basis for the series. The series will be co-produced with House of Talkies
  
  
• Mountain Dark – Locomotive has partnered with Endemol Shine India to develop an original Indo-Western thriller set in the foothills of the Himalayas. The series is being written and directed by Prashant Nair, who made the award-winning film, Umrika, and recently released his critically acclaimed series, Trial By Fire, on Netflix. The series was labeled by Variety as “One of Netflix India’s best yet.”

In addition to its original series, Locomotive Global has begun to develop South Indian language projects that include both films and television series. The first series in development is titled Pallavapuram (Tamil language), and a film titled Chelambara (Malayalam) that tells the true story of a bank heist. The company is also developing genre films for the mainstream Indian market – emphasizing cost-effectiveness.

“The market for original content in India has rapidly grown over the past several years, especially as streaming services like Netflix are heavily investing in scaling their services,” said Sunder Aaron, managing partner of Locomotive Global. “We are well positioned to take advantage of this surge in demand for content by creating projects that are unique and draw large audiences. We’re delighted our series Rana Naidu has received a second season green light from Netflix, and to see how massive a hit it has become.”

About Chicken Soup for the Soul Entertainment

Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) provides premium content to value-conscious consumers. The company is one of the largest advertising-supported video-on-demand (AVOD) companies in the US, with three flagship AVOD streaming services: Redbox, Crackle, and Chicken Soup for the Soul. In addition, the company operates Redbox Free Live TV, a free ad-supported streaming television service (FAST), with over 160 channels as well as a transaction video on demand (TVOD) service, and a network of approximately 32,000 kiosks across the US for DVD rentals. To provide original and exclusive content to its viewers, the company creates, acquires, and distributes films and TV series through its Screen Media and Chicken Soup for the Soul TV Group subsidiaries. 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 Locomotive Global Inc.

Locomotive Global Inc. (LGI), a Chicken Soup for the Soul Entertainment Company (NASDAQ: CSSE) was co-founded in 2013 by media and entertainment industry executives Sunder Aaron and Scott Anderson. LGI is a US-incorporated company that holds several media assets and operates primarily in the US and India focused on developing, producing, and distributing Indian-themed global quality television and film content for the Indian market and around the world. Through its India-based subsidiary, Locomotive Global Media LLP (LGM), LGI incubates and operates its India media business. The company has an active development slate that includes both scripted drama series as well as feature films. LGI is also active in programming sales and distribution across broadcast TV and OTT platforms.

Forward-Looking Statements and Available Information

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 risks relating 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, ability to achieve and sustain market acceptance of our content streaming services and other content offerings, ability to recruit and retain officers, key employees, or directors, ability to protect our intellectual property, ability to complete and integrate into our existing operations future strategic acquisitions, ability to manage growth, ability to pay dividends and our debt obligations, as well as evolving regulatory or other operational risks, and risks presented by changing general market conditions impacting demand for our services. For a more complete description of these and other risks and uncertainties, please refer to Item 1A (Risk Factors) in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on March 31, 2023. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by the forward-looking statements contained in this press release. Information regarding the acquisition of Redbox and related transactions is qualified by reference to the Company’s Current Reports on Form 8-K filed with the SEC on May 11, 2022 as amended May 12, 2022, June 6, 2022, August 12, 2022, November 14, 2022 and thereafter from time to time, and all exhibits filed with respect to such reports. The forward-looking statements contained in this press release 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230420005445/en/

(MEDIA)

Peter Binazeski

Chicken Soup for the Soul Entertainment

pbinazeski@chickensoupforthesoul.com

(INVESTOR RELATIONS)

Zaia Lawandow

Chicken Soup for the Soul Entertainment

zlawandow@chickensoupforthesoul.com

Source: Chicken Soup for the Soul Entertainment

FAQ

What is the latest news from Chicken Soup for the Soul Entertainment regarding CSSE?

Chicken Soup for the Soul Entertainment announced the greenlight of a second season for its popular series Rana Naidu, which quickly became India's top streamed series.

When did <i>Rana Naidu</i> become India's number-one streamed series?

The first season of Rana Naidu became India's number one streamed series shortly after its launch.

What new projects is Chicken Soup for the Soul Entertainment developing?

The company is developing several new projects, including an Indian version of Undercover Boss and a procedural series with Applause Entertainment and Case Closed Entertainment.

How is Chicken Soup for the Soul Entertainment expanding its content offerings in India?

The company is expanding by signing deals for adaptations, developing South Indian language projects, and creating original series.

What position does Chicken Soup for the Soul Entertainment hold in the Indian market?

The company is well-positioned to capitalize on the rapidly growing demand for original content in India.