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Redbox Signs Team Whistle’s Palomino Media Group to Handle Direct Sales for Ad Supported Streaming Video Platform
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Rhea-AI Summary
Redbox (NASDAQ: RDBX) has partnered with Team Whistle's Palomino Media Group to enhance its advertiser-supported streaming services. This collaboration aims to boost revenue through tailored sales solutions for Redbox’s growing digital platform, which now features over 120 FAST channels and 5,000 free movies and TV shows. The partnership aligns with Redbox's strategic push into free streaming, signaling a commitment to expand its market presence in a competitive landscape.
Positive
Partnership with Palomino Media Group to enhance direct sales for streaming services.
Expansion of free streaming offerings with over 120 FAST channels and 5,000 free titles.
Strategic focus on revenue growth in the digital streaming sector.
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None.
Deal marks Palomino Media Group’s continued support of top streaming clients
NEW YORK--(BUSINESS WIRE)--
Redbox (NASDAQ: RDBX), a leading entertainment company, today announced it has signed a deal with global sports and entertainment media company Team Whistle to have their Palomino Media Group handle direct sales for their advertiser-supported streaming video platform that includes Ad Supported Video on Demand (AVOD) and Free Ad Supported Television (FAST) channels. Palomino Media Group is an award-winning media sales organization within Team Whistle helping top platforms in the streaming video space monetize their inventory with tailored solutions.
Redbox has been aggressively expanding its free streaming efforts and recently surpassed 120 FAST channels with recent additions that include Yahoo! Finance, 10 local news channels from Cox Media Group (CMG), and popular children’s channel Happy Kids. The company has also recently announced an AVOD content deal with Lionsgate, and now offers over 5,000 movies and TV shows completely free.
“Palomino Group is one of the best direct sales organizations in the streaming business and we’re thrilled to be working with them to sell our inventory,” said Jason Kwong, Chief Strategy and Digital Officer, Redbox. “As we work to rapidly grow our free streaming business, having a partner like Palomino will help us grow even faster.”
“We have a long history selling inventory for streaming platforms” said Kyle Young, EVP of Solutions at Team Whistle. “We are excited to partner with Redbox in their efforts to scale revenue growth on their streaming platform and deliver a best-in-class experience for Redbox’s advertiser partners.”
About Redbox
Redbox (NASDAQ: RDBX) is a leading entertainment company that gives consumers access to a large variety of content across digital and physical media. The company operates a rapidly growing digital streaming service that provides both ad supported (AVOD) and paid movies from Hollywood studios and hundreds of content partners, as well as over 120 channels of free ad supported streaming television (FAST). The Redbox app is available on major entertainment platforms that include Roku devices, connected TVs, gaming platforms, the web as well iOS and Android devices. Redbox also operates its popular kiosks across the US at thousands of retail locations – giving consumers affordable access to the latest in entertainment. The company produces, acquires, and distributes movies through its Redbox Entertainment™ label, providing rights to talent-led films that are distributed across Redbox’s digital and physical services as well as through third-party digital services. Headquartered just outside of Chicago, Redbox has offices in Los Angeles and Seattle. For more information visit www.redbox.com.
Forward-Looking Statements
Certain statements in this press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements in this release include statements regarding the Redbox management team’s expectations, hopes, beliefs, intentions or strategies regarding the future of its free streaming services. Forward-looking statements are not guarantees of future actions, results, performance or events, which may vary materially from those expressed or implied in such statements. Differences may result from actions taken by Redbox or their management, as well as from risks and uncertainties beyond their control. Such risks and uncertainties include, but are not limited to, changes adversely affecting the business in which Redbox is engaged, the risks associated with demand for Redbox’s services and vulnerability to industry downturns and regional or national downturns, competition from new and existing competitors, Redbox’s dependence upon third parties to provide certain content and services, and general economic and political conditions. The foregoing list of risks and uncertainties is illustrative but by no means exhaustive. For more information on factors that may affect Redbox, please review the “Risk Factors” and other disclosures described in Redbox’s (and previously Seaport Global Acquisition's) public reports filed with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K as well as the preliminary and the definitive proxy statements filed with the SEC in connection with the solicitation of proxies for the meeting of stockholders that approved the business combination between Redbox and Seaport. These forward-looking statements reflect Redbox's expectations as of the date of this release. Redbox undertakes no obligation to update the information provided herein.
Palomino Media Group
Palomino Media Group, the media sales arm of Team Whistle, is an award-winning organization helping top platforms in the streaming video space monetize their inventory with tailored solutions. Rated in the top four in the Myers Report among a list of most trusted sales organizations, Palomino helps its clients establish credibility in the marketplace and scale through direct sales and media operations. Team Whistle is a sports and entertainment media company built to engage and activate today’s fans worldwide, wherever and however they want it. The company's video content IP and audience combined with its powerful analytical, production and commercial capabilities serve to help brands, distributors, talent, sports leagues and media companies activate and engage consumers across the content ecosystem.
