Chicken Soup for the Soul Entertainment’s Screen Media Announces Acquisition and Release of Chinese Blockbuster Hit Movie ‘Skyfire’

Rhea-AI Summary

Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) announced the acquisition of North American rights to the action/disaster film Skyfire. Directed by Simon West, known for films like Con Air and Lara Croft: Tomb Raider, Skyfire is set for a December 2020 release. The film, which topped the Chinese box office, features a cast including Jason Isaacs and Hannah Quinlivan. This acquisition aligns with Chicken Soup's strategy to expand its content library, particularly within the AVOD sector, enhancing its competitive positioning in the streaming market.

Positive

• Acquisition of Skyfire enhances content portfolio, expanding audience reach.
• Film's box office success in China indicates potential for strong viewership in North America.
• Strategic move aligns with growth objectives in the AVOD market.

Negative

• None.

       The Film Topped the Chinese Box Office and Comes from the Director of ‘Con Air,’ ‘The Expendables 2,’ and ‘Lara Croft: Tomb Raider’

COS COB, Conn., Oct. 08, 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 that Screen Media has acquired all North American rights to Simon West’s big-budget action/disaster film Skyfire and will release the film in theaters and on demand in December 2020.

The film from Highland Film Group, which topped the Chinese box office, stars Jason Isaacs (Hotel Mumbai), Hannah Quinlivan (Skyscraper), Xueqi Wang (Iron Man 3) and Shawn Dou (Wolf Totem). Produced by Meridian Entertainment, Skyfire is China’s first large-scale disaster movie and debuted in December 2019.

In Skyfire, chaos erupts when the once dormant volcano at the world's only volcano theme park and resort starts to rumble. A young scientist (Quinlivan) must convince the resort owner (Isaacs) to evacuate the island before it is too late.

The film’s director, British filmmaker Simon West, is best known for his action films Con Air, Lara Croft: Tomb Raider, The Mechanic, and The Expendables 2, among many others. VFX Producer John Hughes who is co-founder of Rhythm & Hues, cooperated with six top-ranking VFX companies worldwide to create the special effects. The film is written by Will Wei Bu and Sidney King, and produced by Jennifer Wenjie Dong.

“Skyfire is an incredible return for Simon West to large-scale, blockbuster filmmaking. The immense scope of this thrilling story, and Simon’s skilled execution in telling it, results in a blast of a disaster movie that all can enjoy, whether they watch on the big screen or at home. With both dubbed and subtitled versions of the film, we’re excited for audiences to enjoy the ride,” said David Fannon, president of Screen Media.

Skyfire’s release follows on the heels of Screen Media’s acquisition of the Bella Throne thriller Girl, which premiered at Fantastic Fest, and Jesse Quinones’ MMA action film Cagefighter, featuring Gina Gershon, Jon Moxley, and Chuck Liddell, which is also set for a day-and-date release on Friday. Last month, Screen Media released Blackbird, the Roger Michell-helmed drama starring Susan Sarandon, Kate Winslet and Mia Wasikowska. Another Screen Media release, Rod Lurie’s feature film The Outpost, based on Jake Tapper’s New York Times Best Seller The Outpost: An Untold Story of American Valor, has been one of the top films across all platforms since its launch July 4th weekend. Screen Media’s sister company, Landmark Studio Group, is in post-production on Willy’s Wonderland with Nicolas Cage which is expected to be released by Screen Media early next year.

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 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 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 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.

CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INVESTOR RELATIONS
Taylor Krafchik
Ellipsis
csse@ellipsisir.com
(646) 776-0886

CHICKEN SOUP FOR THE SOUL ENTERTAINMENT MEDIA CONTACT
Kate Barrette
RooneyPartners LLC
kbarrette@rooneyco.com
(212) 223-0561

 

FAQ

What are the details of Chicken Soup for the Soul's acquisition of <em>Skyfire</em>?

Chicken Soup for the Soul Entertainment acquired North American rights to Skyfire, directed by Simon West, with plans for a December 2020 release in theaters and on demand.

How does <em>Skyfire</em>'s box office performance impact Chicken Soup for the Soul's stock?

The film's success in the Chinese market suggests a strong potential viewership in North America, which could positively influence Chicken Soup for the Soul Entertainment's stock performance.

When is <em>Skyfire</em> set to be released?

Skyfire is scheduled for release in December 2020 both in theaters and on demand.

What is the strategic importance of acquiring <em>Skyfire</em> for CSSE?

The acquisition supports Chicken Soup for the Soul Entertainment's strategy to enhance its AVOD content library, aiming for competitive advantage in the streaming sector.