Redbox to Take Full Advantage of Strongest Theatrical Slate in Years

Rhea-AI Summary

Chicken Soup for the Soul Entertainment (CSSE) announced plans to capitalize on a strong theatrical slate with over 40 major film titles expected this year. The company aims to enhance its Redbox offerings, leveraging its 34,000 kiosks and a customer loyalty program with more than 40 million members. Following the recent release of films like Ant-Man and the Wasp: Quantumania, CSSE anticipates a significant number of high-profile releases weekly throughout the year. This strategy is aimed at boosting cash flow and supporting debt repayment and expansion efforts.

Positive

• Over 40 major film releases expected this year, enhancing content availability.
• Plans to leverage a customer base of 40 million for driving traffic to kiosks.
• New films will potentially increase revenue through Redbox's streaming services.

Negative

• None.

Major new franchise releases include Spider-Man: Across the Spider-Verse, Indiana Jones and The Dial of Destiny, Transformers: Rise of the Beasts and The Hunger Games: The Ballad of Songbirds and Snakes

Redbox will leverage its over 40 million customer loyalty program members to drive traffic to approximately 34,000 kiosks

NEW YORK--(BUSINESS WIRE)-- Chicken Soup for the Soul Entertainment Inc. (Nasdaq: CSSE) – one of the largest providers of premium content to value-conscious consumers, today announced the Company will be taking full advantage of the strongest theatrical slate in years. Over 40 major titles are expected to be available this year and early next year in approximately 34,000 Redbox kiosks and streaming through its Redbox Transactional Video on Demand (TVOD) and Electronic Sell Through (EST) platforms.

Beginning with the recent theatrical release of Ant-Man and the Wasp: Quantumania, the company expects at least one major theatrical release each week for the remainder of the year. This year’s theatrical slate includes the latest installments from some of the highest-grossing film franchises in history, including Creed III, Scream VI, Shazam! Fury of the Gods, John Wick: Chapter 4, Guardians of the Galaxy Volume 3, Fast X, The Little Mermaid, Spider-Man: Across the Spider-Verse, Transformers: Rise of the Beasts, The Flash, Indiana Jones and the Dial of Destiny, Mission: Impossible – Dead Reckoning Part One, Barbie, The Marvels, Meg 2: The Trench, Teenage Mutant Ninja Turtles: Mutant Mayhem, The Equalizer 3, Dune: Part Two, The Hunger Games: The Ballad of Songbirds and Snakes, Wonka, Aquaman and the Lost Kingdom, Ghostbusters 5, among many others.

Redbox kiosks continue to be a destination for millions of consumers seeking the fastest access to the latest entertainment at the most affordable price. With this increase in major releases, the company will offer promotions to over 40 million Redbox customer loyalty program members to drive traffic to kiosks and digital platforms.

“After years of COVID-related delays and shutdowns, big movies are finally back in theaters. Our company is very well positioned to take full advantage of this massive slate of new release movies,” said Bill Rouhana, CEO of Chicken Soup for the Soul Entertainment. “Between our kiosks and digital streaming services, we can monetize these windows and drive meaningful free cash flow. We will use some of that expected windfall to pay down debts and help to expand our operations.”

The Company will also utilize its digital streaming platforms to offer these movies during premium windows. Premium Video on Demand (PVOD) and Premium Electronic Sell Through (PEST) will be offered in many cases right after the theatrical window – allowing the company to take advantage of studio marketing efforts for broad awareness.

Beginning in the early PVOD home entertainment window and subsequent VOD and DVD windows, Redbox customers generally enjoy the ability to rent major releases like these in just a matter of days or weeks following theatrical release. The expected theatrical releases for 2023 are:

Expected Theatrical Release Month	Title	Studio
March	Shazam! Fury of the Gods	Warner Bros.
	John Wick: Chapter 4	Lionsgate
	Dungeons & Dragons: Honor Among Thieves	Paramount
April	The Super Mario Bros. Movie	Universal
	The Pope's Exorcist	Sony Pictures
	Renfield	Universal
	Chevalier	Searchlight Pictures
	Evil Dead Rise	Warner Bros.
	Are You There God? It's Me, Margaret	Lionsgate
	Big George Foreman: The Miraculous Story of the Once and Future Heavyweight Champion of the World	Sony Pictures
	Sisu	Lionsgate
May	Guardians of the Galaxy Vol. 3	Walt Disney
	Book Club: The Next Chapter	Focus Features
	Love Again	Sony Pictures
	Fast X	Universal
	About My Father	Lionsgate
	The Little Mermaid	Walt Disney
	The Machine	Sony Pictures
June	The Boogeyman	20th Century Studios
	Spider-Man: Across the Spider-Verse	Sony Pictures
	Strays	Universal
	Transformers: Rise of the Beasts	Paramount
	The Blackening	Lionsgate
	Elemental	Walt Disney
	The Flash	Warner Bros.
	Joy Ride	Lionsgate
	No Hard Feelings	Sony Pictures
	Harold and the Purple Crayon	Sony Pictures
	Indiana Jones and the Dial of Destiny	Walt Disney
July	Insidious 5	Sony Pictures
	Mission: Impossible Dead Reckoning Part One	Paramount
	Barbie	Warner Bros.
	Oppenheimer	Universal
	Haunted Mansion	Walt Disney
August	The Meg 2: The Trench	Warner Bros.
	Teenage Mutant Ninja Turtles: Mutant Mayhem	Paramount
	Gran Turismo	Sony Pictures
	The Last Voyage of Demeter	Universal
	Blue Beetle	Warner Bros.
	They Listen	Sony Pictures
	White Bird: A Wonder Story	Lionsgate
September	The Equalizer 3	Sony Pictures
	My Big Fat Greek Wedding 3	Focus Features
	The Nun 2	Warner Bros.
	A Haunting in Venice	20th Century Studios
	The Book of Clarence	Sony Pictures
	The Expendables 4	Lionsgate
	Next Goal Wins	Searchlight Pictures
October	Kraven the Hunter	Sony Pictures
	True Love	20th Century Studios
	The Exorcist	Universal
	PAW Patrol: The Mighty Movie	Paramount
	Dumb Money	Sony Pictures
	The Underdoggs	Universal
	Untitled Saw Movie	Lionsgate
November	Dune: Part 2	Warner Bros.
	The Marvels	Walt Disney
	The Hunger Games: The Ballad of Songbirds and Snakes	Lionsgate
	Trolls 3	Universal
	Wish	Walt Disney
December	Wonka	Warner Bros.
	Ghostbusters 5	Sony Pictures
	Migration	Universal
	Aquaman and the Lost Kingdom	Warner Bros.
		Source: The-Numbers.com; release dates are subject to change.

About Chicken Soup for the Soul Entertainment

Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) provides premium content to value-conscious consumers. The company is one of the largest advertising-supported video-on-demand (AVOD) companies in the US, with three flagship AVOD streaming services: Redbox, Crackle, and Chicken Soup for the Soul. In addition, the company operates Redbox Free Live TV, a free ad-supported streaming television service (FAST), with over 160 channels as well as a transaction video on demand (TVOD) service, and a network of approximately 34,000 kiosks across the US for DVD rentals. To provide original and exclusive content to its viewers, the company creates, acquires, and distributes films and TV series through its Screen Media and Chicken Soup for the Soul TV Group subsidiaries. Chicken Soup for the Soul Entertainment is a subsidiary of Chicken Soup for the Soul, LLC, which publishes the famous books series and produces super-premium pet food under the Chicken Soup for the Soul brand name.

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. Such assumptions involve a number of known and unknown risks and uncertainties, including but not limited to our core strategy, operating income and margin, seasonality, liquidity, including cash flows from operations, available funds, and access to financing sources, free cash flows, revenues, net income, profitability, stock price volatility, future regulatory changes, price changes, the ability of the Company’s content offerings to achieve market acceptance, the Company’s success in retaining or recruiting officers, key employees, or directors, the ability to protect intellectual property, the ability to complete strategic acquisitions, the ability to manage growth and integrate acquired operations, the ability to pay dividends, regulatory or operational risks, and general market conditions impacting demand for the Company’s services. For a more complete description of these and other risks and uncertainties, please refer to Item 1A (Risk Factors) in the Company’s Quarterly Report on Form 10-Q for the three- and nine-month period ended September 30, 2022, filed with the SEC on November 14, 2022. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by the forward-looking statements contained in this press release. Information regarding the acquisition of Redbox and related transactions is qualified by reference to the Company’s Current Reports on Form 8-K filed with the SEC on May 11, 2022 (as amended May 12, 2022), June 6, 2022, August 12, 2022, and November 14, 2022, and all exhibits filed with respect to such reports and the aforementioned registration statement. The forward-looking statements contained in this press release 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230314005552/en/

(PRESS)

Peter Binazeski

Chicken Soup for the Soul Entertainment

pbinazeski@chickensoupforthesoul.com

(INVESTOR RELATIONS)

Zaia Lawandow

Chicken Soup for the Soul Entertainment

zlawandow@chickensoupforthesoul.com

Source: Chicken Soup for the Soul Entertainment Inc.

FAQ

What major titles are being released by Chicken Soup for the Soul Entertainment (CSSE) in 2023?

CSSE is releasing over 40 major titles, including Spider-Man: Across the Spider-Verse, Indiana Jones and The Dial of Destiny, and Transformers: Rise of the Beasts.

How does CSSE plan to utilize its customer loyalty program?

CSSE will leverage its customer loyalty program, which has over 40 million members, to increase traffic to its Redbox kiosks and streaming services.

What is CSSE's strategy for increasing revenue this year?

CSSE plans to take advantage of a strong theatrical slate, with a major release every week, to drive revenue through both kiosks and digital platforms.

How many kiosks does Chicken Soup for the Soul Entertainment operate?

Chicken Soup for the Soul Entertainment operates approximately 34,000 Redbox kiosks across the United States.

What company initiatives are being implemented to improve cash flow?

CSSE aims to monetize new film releases to drive meaningful free cash flow and plans to use some of the expected revenue to pay down debts and expand operations.