Welcome to our dedicated page for Chicken Soup for the Soul Entertainment news (Ticker: CSSE), a resource for investors and traders seeking the latest updates and insights on Chicken Soup for the Soul Entertainment stock.
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) has appointed Phil Oppenheim as Chief Content Officer, effective November 1. Oppenheim, with extensive experience from MGM’s Epix Networks and Lionsgate, will lead content strategy for the company's streaming and physical brands, including Redbox and Crackle. His role aims to enhance revenue and profits as he reports to president Jonathan Katz. Oppenheim's track record includes significant contributions to audience growth and revenue generation across various platforms.
Crackle Plus, a Chicken Soup for the Soul Entertainment company (Nasdaq: CSSE), announced the premiere of a new original series called Wedding Talk, debuting on
The Wall 2: The Chateau Murder is set to stream for free on Crackle starting October 1. This second season follows Detective-Sergeant Céline Trudeau as she investigates a murder linked to a bridge collapse in Quebec City. The series will be available on various platforms, including Roku and Amazon Fire TV. Following the success of its first season, The Wall has become one of Crackle's most popular titles. Crackle Plus continues to expand its offerings, aiming to reach over 160 distribution points this year.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) announced the acquisition of all North American rights to the thriller Poker Face from Arclight Films. The film, directed by Russell Crowe, stars Liam Hemsworth, RZA, and Elsa Pataky, and is set for theatrical release on November 16, 2022, followed by a digital release on November 22, 2022. Crowe plays tech billionaire Jake Foley, who hosts a high-stakes poker game. The acquisition aligns with Screen Media's strategy to expand its film library and audience reach.
Chicken Soup for the Soul Entertainment (CSSE) has partnered with PetSmart to launch a new 10-episode series titled Pet Caves. Set to premiere on September 1 on the Chicken Soup for the Soul AVOD streaming service and available on-demand starting September 15 via Crackle, the series showcases pet owners enhancing their homes for their pets. Hosted by Kayla Oliver and Nina Ferrer, it aims to blend entertainment with strategic sponsorships from PetSmart. This collaboration emphasizes both companies' commitment to innovative content delivery.
Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) has announced a new senior leadership team, integrating former Redbox executives to enhance its growth strategy. CEO William J. Rouhana emphasized that this restructuring aims to leverage extensive industry experience to drive the company's rapid expansion following its recent acquisition of Redbox. Key figures include Galen C. Smith as executive vice chairman overseeing long-term planning, and Jonathan Katz as president managing daily operations, including streaming and distribution.
Chicken Soup for the Soul Entertainment, Inc. (CSSE) reported 70% year-over-year revenue growth for Q2 2022, reaching $37.6 million. The company closed the acquisition of Redbox Entertainment Inc., expanding its entertainment platform and boosting its film and television library to over 51,000 titles. Adjusted EBITDA grew 77% to $5.6 million, though net loss increased to $20.8 million. As of June 30, 2022, cash stood at $23.5 million with debt at $87 million. Management to host a webcast on August 11, 2022.
Chicken Soup for the Soul Entertainment has acquired Redbox Entertainment Inc., forming a new entertainment powerhouse aimed at value-conscious consumers. The merger combines 40,000 titles in their catalog with an additional 11,000 movies and shows, and facilitates a revenue boost expected to exceed $500 million annually, significantly tripling their current figures. The combined company will leverage Redbox's 36,000 kiosks for expanded advertising and marketing opportunities, while aiming to achieve over $40 million in operational synergies by 2023.
Chicken Soup for the Soul Entertainment (CSSE) has successfully acquired Redbox Entertainment (RDBX), creating a large-scale entertainment platform targeting value-conscious consumers. This merger is anticipated to increase annual revenue to approximately $500 million, with expected synergies of over $40 million. The acquisition adds over 11,000 movies to its existing 40,000-title catalog and expands its ad-supported video offerings significantly. Key executives have been appointed to oversee the merger, aiming for a seamless integration that enhances market competitiveness and growth.
Redbox Entertainment Inc. (NASDAQ: RDBX) announced that stockholders approved a merger proposal with Chicken Soup for the Soul Entertainment Inc. (NASDAQ: CSSE). During a Special Meeting, approximately 87.9% of Redbox shares were present, with about 85.04% voting in favor of the merger. The merger is expected to enhance Redbox's digital transformation and expand its market presence, enabling growth in both its Legacy and Digital Business segments.
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