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Chicken Soup for the Soul Entertainment reported strong operational progress and financial results for Q4 and full year 2020. Gross revenue reached $68.2 million, up from $56.6 million in 2019, despite a net loss of $44.6 million. Online networks generated $35.3 million, down from $41.7 million, while Distribution & Production revenue rose significantly by 129% year-over-year to $38.0 million. Gross profit was $14.2 million, yielding a gross margin of 21%. The company continued to expand its content pipeline and distribution channels, positioning for transformational growth in 2021.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) has announced new content for Crackle in April 2021, enhancing its streaming offerings. Key highlights include the return of Going From Broke (Season 2) on April 8, featuring real-time debt recovery stories. New films such as Cagefighter and Exit Plan debuting on April 1 and April 15, respectively, will enrich the platform. Additional themed channels will also launch, including Cage Match Channel and Family Movie Night Channel, providing diverse viewing experiences across various devices.
Crackle Plus Networks have expanded to 41 distribution touchpoints and are set to reach 64 by year-end. This growth is part of Chicken Soup for the Soul Entertainment's strategy to boost viewership across platforms such as digital services and cable providers. Notably, there has been a reported increase in viewership of Crackle in February compared to January. The company aims to make its free content more accessible, enhancing opportunities for advertising partners.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) will host a conference call on March 31, 2021, at 4:30 p.m. ET to discuss its Q4 and full-year results for 2020. Investors can join via toll-free number (833) 832-5128 or internationally at (484) 747-6583, using conference ID 2587209. A live webcast will also be available on their investor relations website. For replay, call (855) 859-2056 toll-free or (404) 537-3406 internationally. The company is a leading operator of AVOD networks and owns various streaming services including Crackle and Popcornflix.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE, CSSEP, CSSEN) has announced the payment details for its monthly dividend of $0.2031 per share on its 9.75% Series A Cumulative Redeemable Perpetual Preferred Stock. This dividend is scheduled for April 15, 2021, to shareholders on record by March 31, 2021. The company operates various streaming video-on-demand networks, including Crackle Plus and others, and is known for its original content production through subsidiaries.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) announced a partnership with Plex to represent its U.S. advertising inventory. This collaboration involves Crackle Plus’ ad sales team marketing Plex’s content to major advertisers. Since the start of their relationship in May 2020, they have launched several offerings on Plex. This agreement is expected to facilitate more effective advertising campaigns and provide a single contact point for advertisers, enhancing targeted marketing efforts.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) announced a new agreement to launch the Crackle app on Vewd-powered Smart TVs and devices. This partnership allows Crackle to reach nearly 40 million connected devices annually, enhancing access to its diverse content, including popular films and original productions. Vewd is a leading provider of OTT solutions, powering devices from major brands like Sony and Hisense. The collaboration aims to meet rising consumer demand for AVOD services, further solidifying Crackle’s position in the competitive streaming market.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) announces CEO Bill Rouhana's attendance at the D.A. Davidson Consumer Growth Virtual Conference on March 11, 2021. He will conduct one-on-one and small group meetings throughout the day, participate in a fireside chat at 11 a.m. ET, and join a panel at 3 p.m. ET to discuss the OTT video market. A live webcast of the fireside chat will be available on the company’s investor relations website.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) announced the acquisition of US rights to the comedy Eat Wheaties! directed by Scott Abramovitch. The film, featuring actors like Tony Hale and Elisha Cuthbert, has received accolades including the Humor and Humanity Award at the Heartland Film Festival. Set for release on April 30, 2021, the story follows a man, Sid Straw, who spirals out of control after his social media efforts to connect with a former classmate go viral. Screen Media, a subsidiary of Chicken Soup, is responsible for the film's distribution.
Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) announced exciting content releases for its Crackle platform in March 2021. The lineup includes original programming such as Playing With Power: The Nintendo Story and After the Murder of Albert Lima. New themed channels will launch, featuring popular genres like sports, thrillers, and documentaries. Crackle Plus will be accessible on multiple devices, including Smart TVs and gaming consoles, and is available in approximately 500,000 Marriott Bonvoy hotel rooms.
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