Chicken Soup for the Soul Entertainment’s Screen Media Acquires International Rights to Moonstone Entertainment Film Catalog

Rhea-AI Summary

Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) has announced the acquisition of international rights to a substantial portion of the Moonstone Entertainment Library through a 10-year exclusive deal. This acquisition includes 47 titles from acclaimed creators such as Noah Baumbach and Timothy Hutton. The deal is expected to enhance Screen Media's catalog and leverage its distribution capabilities. Screen Media, part of Chicken Soup for the Soul Entertainment, aims to market these titles immediately, continuing a long-standing partnership with Moonstone Entertainment.

Positive

• Acquisition of 47 titles enhances streaming catalog and expands content offerings.
• Strengthens long-term partnership with Moonstone Entertainment.
• Immediate marketing of acquired titles could lead to increased revenue.

Negative

• None.

Including Titles from Noah Baumbach, Timothy Hutton, and Alan Rudolph

COS COB, Conn., May 10, 2021 (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 that Screen Media has acquired international rights to a substantial part of the Moonstone Entertainment Library with a 10-year exclusive deal. Deal will include titles from Noah Baumbach, Timothy Hutton and Alan Rudolph. Screen Media plans to take the 47 library titles to market right away. The deal, negotiated by Ernst “Etchie” Stroh on behalf of Moonstone Entertainment and David Fannon and Michael Kosche on behalf of Screen Media, in partnership with MEP, represents the continuation of a long-standing relationship between Screen Media and Moonstone Entertainment.

Established by Etchie Stroh and his wife Yael at the Cannes Film Festival in 1992, Moonstone Entertainment is a leading independent film producer, known for films of high quality and commercial success. Over the years they have produced films including Alan Rudolph’s Afterglow starring Nick Nolte, Julie Christie (nominated for an Academy Award for Best Actress for this role), Lara Flynn Boyle and Jonny Lee Miller; Mr. Jealousy starring Eric Stoltz, Annabella Sciorra and Peter Bogdanovich; Scott Sanders’ Thick As Thieves starring Alec Baldwin and Michael Jai White; Peter Masterson’s Only Thrill starring Diane Keaton and Sam Shepard; Shimon Dotan’s Diamond Dogs starring Dolph Lundgren; and Timothy Hutton’s Digging To China starring Kevin Bacon and Evan Rachel Wood.  

“We are excited to add this new acquisition of commercial titles to our growing catalogue and continue our long-standing relationship with Etchie and Moonstone,” said David Fannon, President of Screen Media, EVP of Distribution for Chicken Soup for the Soul Entertainment.

“After decades of successfully working together, I feel that Screen Media is a perfect home for this part of our catalog for the next decade and will give us time to focus on our upcoming productions. I wish David, Michael and the team of Screen Media good luck,” added Stroh of Moonstone Entertainment.

ABOUT CHICKEN SOUP FOR THE SOUL ENTERTAINMENT, INC.
Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) 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, 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, Chicken Soup for the Soul Unscripted, APlus.com and Halcyon Television. 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 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. 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 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. Forward-looking statements are subject to known and unknown risks and uncertainties, including but not limited to those risks set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. 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.

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 titles are included in the acquisition by Chicken Soup for the Soul Entertainment?

The acquisition includes 47 titles from notable filmmakers such as Noah Baumbach and Timothy Hutton.

How long is the exclusive deal for the Moonstone Entertainment Library?

The deal is exclusive for a duration of 10 years.

What is the impact of the acquisition on Chicken Soup for the Soul Entertainment's business?

The acquisition is expected to enhance the company's catalog and provide new revenue opportunities through expanded content distribution.

Who negotiated the acquisition deal for the Moonstone Entertainment Library?

The deal was negotiated by Ernst Stroh for Moonstone Entertainment and David Fannon, Michael Kosche for Screen Media.

What is the significance of this acquisition for Screen Media?

The acquisition allows Screen Media to market valuable independent films and strengthens its position in the VOD market.