Chicken Soup for the Soul Entertainment, Inc. - CSSE STOCK NEWS

Redbox, a subsidiary of Chicken Soup for the Soul Entertainment, has announced a significant expansion of its partnership with Dollar General (DG). The plan includes adding 1,500 Redbox kiosks over the next two years, increasing the total to over 5,000 kiosks by the end of 2024. This expanded access aims to cater to value-conscious consumers, especially as the demand for DVD rentals is expected to rise with the release of 39 major films in 2023, including titles like Spider-Man: Across the Spider-Verse and Guardians of the Galaxy Vol. 3. The expansion represents a strategic move to provide affordable entertainment options to millions of Americans amidst economic challenges.

Chicken Soup for the Soul Entertainment (CSSE) is set to expand its Redbox Free Live TV service by adding new Free Ad-Supported Streaming Television (FAST) channels from Fremantle, Revry, and Love Stories TV. This expansion will include popular programming such as The Jamie Oliver Channel and Supermarket Sweep. The company anticipates surpassing 180 FAST channels soon, significantly enhancing its content offerings for over 60 million monthly active users. With options available on multiple devices, the Redbox app aims to provide a broad range of engaging programming, reinforcing CSSE's position in the AVOD market through its various platforms.

Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) has announced the launch of Crackle Connex, an advertising sales platform that enhances brand engagement through Digital Out-of-Home (DOOH) networks. The company has signed agreements with Coinstar's adPlanet and Velocity, expanding its reach to over 10,000 video screens across high-traffic areas like grocery stores and cinemas. These partnerships will allow advertisers access to more than 1.4 billion monthly impressions. CEO Philippe Guelton emphasized the platform's potential to connect brands with consumers at critical purchasing points. This strategic move positions CSSE favorably within the growing DOOH market, leveraging its extensive consumer reach to create new advertising opportunities.

Crackle Connex, a division of Chicken Soup for the Soul Entertainment (NASDAQ: CSSE), has signed an exclusive deal to represent Vidgo's advertising sales in the US. Vidgo is a rapidly growing live TV streaming service offering over 200 channels across various devices for an affordable monthly price. This partnership aims to leverage Crackle Connex’s advertising industry expertise to enhance Vidgo's growth, facilitating a simpler ad-buying process for brands. Vidgo’s various subscription packages cater to diverse audiences, including a specific focus on Spanish-language content. The deal signifies Crackle Connex's role in expanding Vidgo's advertising reach and underscores its competitive position within the streaming market.

Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) reports record-breaking growth driven by new movie releases. Redbox kiosks experienced a 102% increase in new release rentals year-to-date, marking a significant resurgence in consumer interest. The company also achieved its largest Transactional Video-on-Demand (TVOD) revenue week, boosted by the premium launch of Avatar: The Way of Water and Creed III. Monthly Active Users across its streaming services—including Redbox and Crackle—grew to 60 million, reflecting a 50% increase. Chicken Soup for the Soul Entertainment forecasts $500 million in revenue and an Adjusted EBITDA between $100 million and $150 million for the year.

Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) has launched Crackle Connex, a new advertising sales platform designed to simplify the buying process for video advertising. The platform aims to connect brands with over 80 million monthly active users through a robust portfolio of owned and operated streaming services like Crackle and Redbox, as well as nearly 10,000 digital out-of-home screens. Led by industry veterans Philippe Guelton and Darren Olive, Crackle Connex offers advertisers a variety of innovative ad products and includes partnerships with over 20 premium streaming services.

Chicken Soup for the Soul Entertainment Inc. (CSSE) reported fourth-quarter 2022 revenue of $113.6 million, marking a 216% year-over-year increase. The net loss for the quarter was $56.3 million, or $2.70 per share, with an adjusted earnings per share of $0.70 and adjusted EBITDA of $14.7 million, up 59% from the prior year. The company launched Chicken Soup for the Soul AVOD on Roku and grew its monthly active users to 60 million. A $10.8 million equity offering was announced, with additional commitments from Chicken Soup for the Soul Holdings, LLC for future investments.

Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) has priced an underwritten public offering of 4,688,015 shares of Class A common stock at $2.30 per share. This includes 1,643,015 shares purchased by its parent, Chicken Soup for the Soul, LLC. The company expects to raise approximately $10.8 million in gross proceeds, with about $3.8 million allocated for payments under management agreements. The funds will be used for working capital and general corporate purposes. The offering is expected to close on or around April 3, 2023, subject to customary conditions.

Chicken Soup for the Soul Entertainment Inc. (Nasdaq: CSSE) has announced an underwritten public offering of its common stock, with all shares being offered by the Company. The offering's size and terms are subject to market conditions. Proceeds from the offering will be utilized for working capital and general corporate purposes, including fulfilling specific obligations. This initiative follows a shelf registration statement filed with the SEC on June 14, 2021. Craig-Hallum Capital Group is the sole managing underwriter for this proposed offering.