Dolphin Entertainment Enters Ready to Drink Cocktail Market With Ownership Stake in Crafthouse Cocktails

Rhea-AI Summary

Dolphin Entertainment (NASDAQ:DLPN) announced a strategic partnership with Crafthouse Cocktails, enhancing its marketing reach in the ready-to-drink cocktail market. Crafthouse, known for its premium, all-natural cocktails, will benefit from Dolphin's expertise in publicity and talent relationships. This partnership follows Dolphin's investment in the Midnight Theatre in Manhattan, further solidifying its strategy to invest in innovative companies. The ready-to-drink cocktail category is projected to see significant growth, with forecasts estimating revenues of $3-$4 billion.

Positive

• Strategic partnership with Crafthouse Cocktails to enhance marketing capabilities.
• Crafthouse Cocktails is positioned in the fast-growing ready-to-drink market, expected to double by 2025.
• Dolphin's investment in Midnight Theatre supports its growth strategy.

Negative

• None.

MIAMI, FL / ACCESSWIRE / December 8, 2021 / Dolphin Entertainment (NASDAQ:DLPN), a leading independent entertainment marketing and production company, today announced it has entered into a strategic partnership with Crafthouse Cocktails, a pioneering brand of ready-to-drink, all-natural classic cocktails created by world renowned mixologist, Charles Joly and esteemed restaurateur, Matt Lindner. Dolphin will manage all aspects of publicity and marketing for the brand through its network of agencies and will facilitate talent and commercial relationships within the entertainment and culinary industries.

This new deal comes on the heels of Dolphin Entertainment's announcement that it has also taken an ownership position in the Midnight Theatre, a state-of-the-art contemporary variety theater and restaurant experience in the heart of Manhattan, New York. That move further supports the company's vision to partner with and invest in projects and companies that can benefit from its collection of best-in-class marketing, public relations and production service providers.

Crafthouse Cocktails is a pioneer in the premium ready-to-drink cocktail category. With recipes curated by global bartending champion Joly and bar/restaurateur Lindner, the two reimagined the prepared cocktail format in 2013. Real, quality ingredients, balanced cocktails and authenticity at every level have been hallmarks of the brand since day one.

Today, Crafthouse Cocktails has eight different, made-from-scratch cocktails in 750ml reusable glass flip-top bottles, resealable 200ml aluminum bottles and 1.75L boxes, using all-natural ingredients and premium craft spirits. The company's large format, "cocktail on-tap" format launched in 2021 to provide a more upscale, environmentally friendly option that preserves the integrity of the cocktail.

Crafthouse Cocktails are available in more than 2,000 retail locations nationally including Total Wine & More, Binny's, Foxtrot, Whole Foods, Wegmans, Hyvee, Plum Market, Bevmaxx and other leading independent retailers across the country, and through partnerships with a select group of establishments such as Kimpton, Marriott and Hilton hotels & resorts, Gaylord Hotels, Ambassador Theatre Group, Virgin Voyages, OTG, Blackberry Farm and Sea Island.

Ready-to-drink (RTD) cocktails are the fastest growing alcohol category, expected to double by 2025¹.Bank of America Securities is forecasting that the category will reach $3 billion to $4 billion in revenue over the next few years².

"Crafthouse Cocktails is already an award-winning brand we've been passionately championing for years via their long-term relationship with The Door | idea house," said Dolphin Entertainment CEO, Bill O'Dowd. "We know first-hand that they have a fantastic product line that is consistently recognized as a market leader in taste and quality. And, with the explosion in popularity of RTDs over the past 18 months, we feel that Crafthouse is extremely well-positioned because of the brand's commitment to natural, premium ingredients and Matt and Charles' incredible vision for the future of the category. The timing is absolutely perfect to take advantage of this tremendous growth opportunity by amplifying Crafthouse across all of our consumer touchpoints, utilizing the relationships and reach of our entire Super Group."

"As an independent brand it has been challenging to compete on a national scale against behemoth suppliers who have entered our space. By joining the Dolphin Entertainment family it gives us the marketing muscle to extend the brand's reach to a broader audience with a partner that shares our vision and values," said Lindner. "With mutual confidence that both Crafthouse and Dolphin are the best in class in their respective fields, becoming one of their first Dolphin 2.0 partners will allow us to realize our full potential. Industry professionals have long recognized Crafthouse as the premium RTD leader, with Dolphin behind us the whole world will soon know!"

Crafthouse founder Joly added, "We couldn't be more excited to partner with Dolphin Entertainment. My specialty is cocktails, hospitality, entertaining and education; this partnership allows each of us to focus on our strengths without distraction. Every entrepreneur knows that having the best quality product in a category simply isn't enough. You need an effective way to share your story and allow your voice to be heard."

About Crafthouse Cocktails

Crafthouse Cocktails is a pioneering range of ready-to-drink cocktails created in 2013 by world-renowned bartender, Charles Joly and trailblazing Chicago restaurateur, Matt Lindner to give consumers access to world-class cocktails anytime, anyplace. Joly is the official mixologist for the Oscars and Emmys, and his credits include a stint as Beverage Director at The Aviary, a James Beard Award, and the distinction of being the only American to have won Diageo World Class Bartender of the Year. Crafthouse Cocktails highlights include the Rum Old Fashioned made with Plantation Rum and being the first ever to create a bottled Moscow Mule. Crafthouse Cocktails can be found nationally at Total Wine, Wegmans, Binny's Beverage, Whole Foods and many other retailers as well as at hotel and resort chains including select Marriott hotels, Amtrak's Acela line, OTG Group airports including LGA and JFK, with some major partnerships in the pipeline including Virgin Voyages and Vail Resorts and Kimpton Resorts.

About Dolphin Entertainment

Dolphin Entertainment is a leading independent entertainment marketing and production company. Through our subsidiaries 42West, The Door, Shore Fire Media and B/HI (a division of 42West), we provide expert strategic marketing and publicity services to many of the top brands, both individual and corporate, in the film, television, music, gaming and hospitality industries. All three PR firms were ranked among the most recent Observer's "Power 50" PR Firms in the United States, an unprecedented achievement. Viewpoint Creative and Be Social complement their efforts with full-service creative branding and production capabilities as well as social media and influencer marketing services. Dolphin's legacy content production business, founded by Emmy-nominated CEO Bill O'Dowd, has produced multiple feature films and award-winning digital series. Dolphin's Non-Fungible Tokens (NFTs) division is dedicated to designing, producing, distributing and promoting NFTs for itself and its clients within the film, television, music, gaming, epicurean, and technology industries. The NFTs division is comprised of executives across all six of Dolphin's wholly owned subsidiaries blending their collective expertise in creative services, digital design, production, marketing, sales and public relations.

1. https://www.forbes.com/sites/katedingwall/2021/10/19/led-by-hard-seltzer-rtd-volumes-will-double-by-2025-new-report-finds/?sh=5c174fd01f34
2. https://www.cnbc.com/2021/05/29/hard-seltzers-popularity-propels-the-rise-of-the-canned-cocktail.html

SOURCE: Dolphin Entertainment

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FAQ

What is the significance of Dolphin Entertainment's partnership with Crafthouse Cocktails?

The partnership will boost marketing efforts for Crafthouse Cocktails, leveraging Dolphin's extensive network.

What are the future projections for the ready-to-drink cocktail market?

The ready-to-drink cocktail market is expected to double by 2025, reaching $3-$4 billion in revenues.

How does Dolphin Entertainment's investment in Midnight Theatre impact its business strategy?

Investment in Midnight Theatre aligns with Dolphin's strategy to partner with innovative companies in the entertainment sector.

What does the partnership with Crafthouse Cocktails entail for Dolphin Entertainment?

Dolphin will manage publicity and marketing for Crafthouse and facilitate talent and commercial relationships.