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Chicken Soup for the Soul Entertainment, Inc. (CSSE) is dedicated to sharing stories that highlight the best of the human spirit through a variety of entertaining video formats. As a forward-thinking media company, CSSE focuses on expanding its content offerings and distribution to emerging platforms, aiming to inspire and uplift its audience.
The company is a prominent provider of premium content to value-conscious consumers. It stands as one of the largest ad-supported video-on-demand (AVOD) companies in the United States, operating three flagship services: Redbox, Crackle, and Chicken Soup for the Soul. Additionally, CSSE operates Redbox Free Live TV, a free ad-supported streaming television service (FAST) featuring nearly 180 channels, and offers a transaction video on demand (TVOD) service.
CSSE also boasts a robust physical presence with a network of approximately 29,000 kiosks across the US, providing DVD rental services. Committed to delivering original and exclusive content, the company creates, acquires, and distributes films and TV series through its Screen Media and Chicken Soup for the Soul TV Group subsidiaries.
In recent developments, CSSE continues to enhance its content library and distribution channels, ensuring a diverse range of uplifting, positive stories reach a broad audience. The company's financial health remains solid, supported by strategic partnerships and continuous innovation in content delivery.
Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) announced the greenlighting of a new reality series, Mutual Aid Brigade, set to begin production in April. Co-hosted by Debra Messing and Shelly Tygielski, the show aims to engage viewers in charitable activities while showcasing the positive impact of their contributions. The series is inspired by the Pandemic of Love initiative, which has facilitated over $100 million in direct giving. The company continues to expand its content offerings through its various AVOD platforms, including Redbox and Crackle.
Chicken Soup for the Soul Entertainment (CSSE) reported a record-breaking third quarter, achieving a net revenue of $72.4 million, a 149% increase year-over-year, driven largely by strong AVOD streaming revenues. Adjusted EBITDA rose 97% to $9.6 million. The company did incur a net loss of $20.1 million or $1.13 per share, though this was an improvement from the previous quarter. The merger with Redbox Entertainment was successfully completed, positioning CSSE as a leading player in affordable streaming services. Key partnerships were also announced with VIZIO and Hisense for enhanced content access.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) has announced an expanded partnership with VIZIO (NYSE: VZIO) to enhance consumer accessibility to its streaming services. From the second half of 2023, new VIZIO TV buyers can access the Crackle and Redbox streaming apps directly through dedicated remote buttons, providing instant access to thousands of movies and TV shows. The deal aims to grow their ad-supported video-on-demand (AVOD) and free ad-supported streaming television (FAST) offerings, with plans to increase distribution points for these services.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) announced the second season of the acclaimed series Inside The Black Box, set to premiere on December 1 exclusively on the Crackle app. Hosted by Emmy Award winner Joe Morton and celebrity coach Tracey Moore, this 10-episode season will explore race in the entertainment industry with notable guests including Debbie Allen and Jeffrey Wright. Sponsored by The General, the series aims to provide a platform for Black artists. The partnership emphasizes the synergy between quality programming and brand alignment.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) will disclose its fiscal 2022 third quarter financial results on November 14, 2022, after market close. A conference call for analysts and investors is scheduled for 4:30 P.M. ET on the same day to discuss the results. The company is recognized as one of the largest AVOD providers in the U.S., operating the popular streaming services like Redbox and Crackle, as well as over 150 channels on Redbox Free Live TV. It also features a vast network of around 36,000 kiosks for DVD rentals.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) announced that its Redbox Free Live TV service has added over 150 free ad-supported streaming channels, including popular shows like Fear Factor, Deal or No Deal, and The Biggest Loser. The service is accessible through various platforms such as Roku and Samsung TVs, enhancing content offerings for consumers. The company aims to accelerate channel additions, further strengthening its position in the competitive FAST market.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) has announced an extension of its partnership with APX Content Ventures to create quality content that amplifies diverse voices. The first project under this new agreement is the reality series Dirty Pool with comedian J.B. Smoove, set to premiere on Crackle and Redbox streaming services in late 2023. This initiative is supported by Publicis Media’s $25 million Inclusion Investment Fund, which aims to enhance diverse content creation.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) has partnered with VIDAA USA to enhance access to its Crackle app, allowing consumers to stream a vast collection of free movies and TV shows.
Starting in early 2023, Hisense Smart TVs will feature a Crackle-branded remote button, simplifying access to ad-supported content. Additionally, Crackle and Chicken Soup for the Soul's FAST channels will launch on the VIDAA platform, expanding availability across various devices.
Crackle Plus, part of Chicken Soup for the Soul Entertainment (CSSE), announces the launch of the third season of its original series Going From Broke on November 10. The season will address debt management, featuring brand integrations from major companies like Chegg, LifeLock, and DoorDash. Executive producer Ashton Kutcher emphasized the series' role in guiding viewers toward financial freedom, with a focus on real-life stories of financial struggles. The series aims to connect with audiences on multiple streaming platforms.
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