Physical media could soon become a thing of the past. But Redbox doesn’t think users are ready to make the transition to purely digital video just yet, and is bulking up its stock of niche titles at its disc rental kiosks, its parent company Chicken Soup for the Soul Entertainment (Csse) announced this week.
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The company said it will bring on a range of new and older films, such as the rare “Ugly Dolls,” catalog titles such as “Jerry Maguire,” and much more. The move is intended to help serve customers who had been signed up to rent discs via mail from Netflix; the streamer announced this spring it was ending its DVD rental service as of Friday, Sept. 29.
The addition of these titles does not mean that Redbox is abandoning traditional blockbusters. Films like “Barbie” and “Oppenheimer” with large mainstream audiences will still...
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The company said it will bring on a range of new and older films, such as the rare “Ugly Dolls,” catalog titles such as “Jerry Maguire,” and much more. The move is intended to help serve customers who had been signed up to rent discs via mail from Netflix; the streamer announced this spring it was ending its DVD rental service as of Friday, Sept. 29.
The addition of these titles does not mean that Redbox is abandoning traditional blockbusters. Films like “Barbie” and “Oppenheimer” with large mainstream audiences will still...
- 9/26/2023
- by David Satin
- The Streamable
Chicken Soup for the Soul is forming a strategic review committee to evaluate its next steps, as the company is in the midst of enacting several cost-savings measures and prioritizing cash flow.
“In recent months, we’ve seen an increase in strategic activity within our space,” CEO William J. Rouhana, Jr. said on the earnings call Monday. “We’ve had incoming requests from financial and strategic partners. We’re going to form a strategic review committee consisting of independent board members to evaluate these opportunities, and will pursue transactions that check all the boxes and create value for our shareholders.”
The company, which owns Redbox and Crackle, saw a net loss of $43.7 million, compared with a net loss of $20.8 million a year ago and net revenue of $79.9 million, up from $37.6 million a year ago. Shares of the company were down 18 percent in after hours trading Monday.
Chicken Soup for the...
“In recent months, we’ve seen an increase in strategic activity within our space,” CEO William J. Rouhana, Jr. said on the earnings call Monday. “We’ve had incoming requests from financial and strategic partners. We’re going to form a strategic review committee consisting of independent board members to evaluate these opportunities, and will pursue transactions that check all the boxes and create value for our shareholders.”
The company, which owns Redbox and Crackle, saw a net loss of $43.7 million, compared with a net loss of $20.8 million a year ago and net revenue of $79.9 million, up from $37.6 million a year ago. Shares of the company were down 18 percent in after hours trading Monday.
Chicken Soup for the...
- 8/14/2023
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Chicken Soup for the Soul Entertainment (Csse) is trying something new. The company that owns free streamers Redbox and Crackle has announced a deal with the social media app TaTaTu, which will give users the opportunity to earn TaTaTu coins while watching content on any Csse streaming app.
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TaTaTu is an entertainment platform that rewards users for viewing content and social media activities. People can watch videos, post photos or videos, and earn Ttu Coins when someone likes, comments, views, or shares their posts or whenever they get a new follower. Once users have accrued Ttu Coins, they can be used to buy products on TaTaTu’s e-commerce platform and to bid in auctions to win different products and experiences. TaTaTu Coins will also soon be accepted at select locations nationwide.
Users are now able to acquire Ttu Coins by simply watching ad-supported video-on-demand (AVOD...
Watch Now $0 / month crackle.com
TaTaTu is an entertainment platform that rewards users for viewing content and social media activities. People can watch videos, post photos or videos, and earn Ttu Coins when someone likes, comments, views, or shares their posts or whenever they get a new follower. Once users have accrued Ttu Coins, they can be used to buy products on TaTaTu’s e-commerce platform and to bid in auctions to win different products and experiences. TaTaTu Coins will also soon be accepted at select locations nationwide.
Users are now able to acquire Ttu Coins by simply watching ad-supported video-on-demand (AVOD...
- 5/23/2023
- by David Satin
- The Streamable
Redbox first gained a reputation as the company that helped Netflix bring down Blockbuster. Redbox rental kiosks still litter the country’s grocery stores and gas stations, a reminder of a time when most home media took the form of physical discs that had to be returned after watching.
But unlike Blockbuster, Redbox has continued to evolve past the offering of physical home media. It also operates a digital rental platform, which is likely a big reason Chicken Soup for the Soul Entertainment (Csse) saw Redbox as a worthwhile acquisition. Csse purchased Redbox last summer in a deal worth around $375 million.
That investment is paying off handsomely, according to Csse. This week, the company announced that Redbox saw its highest revenue-earning week ever from May 14 through May 21. The company has the “Super Mario Bros. Movie” to thank for its success; that film was first released to digital purchase and rental platforms on Tuesday,...
But unlike Blockbuster, Redbox has continued to evolve past the offering of physical home media. It also operates a digital rental platform, which is likely a big reason Chicken Soup for the Soul Entertainment (Csse) saw Redbox as a worthwhile acquisition. Csse purchased Redbox last summer in a deal worth around $375 million.
That investment is paying off handsomely, according to Csse. This week, the company announced that Redbox saw its highest revenue-earning week ever from May 14 through May 21. The company has the “Super Mario Bros. Movie” to thank for its success; that film was first released to digital purchase and rental platforms on Tuesday,...
- 5/22/2023
- by David Satin
- The Streamable
Chicken Soup for the Soul Entertainment Inc. reported improving revenue as the number of theatrical releases pick up at its Redbox kiosks, but growing net losses.
The Redbox and Crackle owner reported net revenue of $110 million for the three months ended March 31, compared with net revenue of $29 million a year ago. The company reported a net loss of $58.6 million, compared with a net loss of $14.1 million a year ago and $56.3 million last quarter.
Among the business highlights, the company signed Fast deals with AMC Networks, Fremantle, Revry, and Love Stories TV to bring channels such as The Walking Dead, Portlandia, Supermarket Sweep and The Jamie Oliver Channel to its Fast content on Redbox Free Live TV.
Additionally, the company signed a deal with Amazon Publisher Services to integrate new advertising technologies, including shoppable ads, into its Redbox, Crackle, and Chicken Soup for the Soul apps.
“Our first quarter came in line with our guidance,...
The Redbox and Crackle owner reported net revenue of $110 million for the three months ended March 31, compared with net revenue of $29 million a year ago. The company reported a net loss of $58.6 million, compared with a net loss of $14.1 million a year ago and $56.3 million last quarter.
Among the business highlights, the company signed Fast deals with AMC Networks, Fremantle, Revry, and Love Stories TV to bring channels such as The Walking Dead, Portlandia, Supermarket Sweep and The Jamie Oliver Channel to its Fast content on Redbox Free Live TV.
Additionally, the company signed a deal with Amazon Publisher Services to integrate new advertising technologies, including shoppable ads, into its Redbox, Crackle, and Chicken Soup for the Soul apps.
“Our first quarter came in line with our guidance,...
- 5/15/2023
- by Caitlin Huston
- The Hollywood Reporter - Movie News
After acquiring Redbox in August, Chicken Soup for the Soul Entertainment says it is finally poised to see a bigger return on its investment.
“The return of theatrical titles is firmly underway. This return, however, began in earnest, months later than we had anticipated when we acquired Redbox. When looking at 2022 there was only a small trickle of big budget wide release hits that broke the year long theatrical drought. Films like Top Gun: Maverick, Black Adam and Black Panther: Wakanda Forever. But the frequency of the releases was sporadic and very slow,” CEO William J. Rouhana, Jr. told investors Friday.
Now Rouhana says the frequency of wide releases is back, starting with Ant-Man and the Wasp: Quantumania, and he now expects one new major wide release every weekend through the rest of the year. Chicken Soup for the Soul Entertainment expects to see that impact in its second quarter results.
“The return of theatrical titles is firmly underway. This return, however, began in earnest, months later than we had anticipated when we acquired Redbox. When looking at 2022 there was only a small trickle of big budget wide release hits that broke the year long theatrical drought. Films like Top Gun: Maverick, Black Adam and Black Panther: Wakanda Forever. But the frequency of the releases was sporadic and very slow,” CEO William J. Rouhana, Jr. told investors Friday.
Now Rouhana says the frequency of wide releases is back, starting with Ant-Man and the Wasp: Quantumania, and he now expects one new major wide release every weekend through the rest of the year. Chicken Soup for the Soul Entertainment expects to see that impact in its second quarter results.
- 3/31/2023
- by Caitlin Huston
- The Hollywood Reporter - Movie News
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Chicken Soup for the Soul Entertainment said it had its best financial quarter in history after taking over RedBox.
The company completed its 375 million acquisition of RedBox in August 2022, allowing Chicken Soup to move further into the free ad-supported streaming video space and retain the use of its kiosks as well as its pay-per-view service. Executives say the company, which also owns Crackle and other free ad-supported streaming services, also benefited from having lower-cost offerings in a tough economic environment.
“This has been the best financial quarter in our history, and our position in the free and low-cost streaming ecosystem is stronger than ever after completing the acquisition of Redbox during the quarter,” said William J. Rouhana, Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment. “We saw tremendous growth, with revenue increasing 149 and Adjusted Ebitda 97 year over year.
Chicken Soup for the Soul Entertainment said it had its best financial quarter in history after taking over RedBox.
The company completed its 375 million acquisition of RedBox in August 2022, allowing Chicken Soup to move further into the free ad-supported streaming video space and retain the use of its kiosks as well as its pay-per-view service. Executives say the company, which also owns Crackle and other free ad-supported streaming services, also benefited from having lower-cost offerings in a tough economic environment.
“This has been the best financial quarter in our history, and our position in the free and low-cost streaming ecosystem is stronger than ever after completing the acquisition of Redbox during the quarter,” said William J. Rouhana, Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment. “We saw tremendous growth, with revenue increasing 149 and Adjusted Ebitda 97 year over year.
- 11/14/2022
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Chicken Soup for the Soul Entertainment, owner of the ad-supported on-demand streamer Crackle, on Wednesday announced plans to acquire the struggling DVD-rental company Redbox in a 375 million deal that includes roughly 50 million in stock and the assumption of roughly 321 million in debt.
The all-stock transaction leaves Chicken Soup stockholders with about 76.5 of the combined company, while Redbox stockholders will own about 23.5. Redbox’s majority owner, Apollo Group Management, will own roughly 15 of Chicken Soup. The deal is expected to close in the second half of 2022, pending regulatory approval.
Redbox has struggled with the decline of the DVD and video game rental market as the company derived nearly 90 of its income from its 38,000 kiosks in groceries and drugstores nationwide. That decline was made worse during the pandemic, as revenues fell from 858 million in 2019 to just 289 million last year.
A Spac merger taking the company public on Nasdaq last fall injected 145 million in cash,...
The all-stock transaction leaves Chicken Soup stockholders with about 76.5 of the combined company, while Redbox stockholders will own about 23.5. Redbox’s majority owner, Apollo Group Management, will own roughly 15 of Chicken Soup. The deal is expected to close in the second half of 2022, pending regulatory approval.
Redbox has struggled with the decline of the DVD and video game rental market as the company derived nearly 90 of its income from its 38,000 kiosks in groceries and drugstores nationwide. That decline was made worse during the pandemic, as revenues fell from 858 million in 2019 to just 289 million last year.
A Spac merger taking the company public on Nasdaq last fall injected 145 million in cash,...
- 5/11/2022
- by Thom Geier
- The Wrap
In an all-stock deal struck designed for the current high-inflation economic environment facing streaming consumers, Crackle parent Chicken Soup for the Soul Entertainment is acquiring Redbox.
The value of the deal is about 375 million, most of which is the assumption of Redbox debt.
Founded in the heyday of DVDs two decades ago, Redbox is best known for its network of 38,000 bright red, disk-dispensing kiosks at convenience and grocery stores. It has more recently expanded into streaming and production. It went public last fall in a 693 million Spac merger with Seaport Global Acquisition Corp. The stock initially rose past 15 a share but has hit the rocks in recent months, dipping as low as 1.61. The company was forced to lay off 10 of its staff and said it was looking at strategic alternatives.
The acquisition will fortify Chicken Soup for the Soul in the booming sector of ad-supported video on demand, or AVOD.
The value of the deal is about 375 million, most of which is the assumption of Redbox debt.
Founded in the heyday of DVDs two decades ago, Redbox is best known for its network of 38,000 bright red, disk-dispensing kiosks at convenience and grocery stores. It has more recently expanded into streaming and production. It went public last fall in a 693 million Spac merger with Seaport Global Acquisition Corp. The stock initially rose past 15 a share but has hit the rocks in recent months, dipping as low as 1.61. The company was forced to lay off 10 of its staff and said it was looking at strategic alternatives.
The acquisition will fortify Chicken Soup for the Soul in the booming sector of ad-supported video on demand, or AVOD.
- 5/11/2022
- by Dade Hayes
- Deadline Film + TV
Tech-centric holding company Ballantyne Strong has launched Strong Studios to create content under the company’s Strong Entertainment division. David Ozer, formerly CEO of Chicken Soup for the Soul Entertainment’s Landmark Studio Group, will serve as president of the new studio.
Based in New York, Strong Studios will develop and produce original feature films and television series, as well as acquire third party rights to content for global multiplatform distribution. At launch, the new studio has set an initial distribution agreement with Chicken Soup for the Soul Entertainment’s Screen Media that will see Strong Studios produce two new scripted series, supernatural horror show “Safehaven” and Michael Rapaport dramedy “Flagrant,” for Screen Media this year. Both series will be launched through Screen Media’s streaming services Crackle, Popcornflix and Chicken Soup for the Soul, which have first rights to premiere.
“The launch of Strong Studios is a natural but...
Based in New York, Strong Studios will develop and produce original feature films and television series, as well as acquire third party rights to content for global multiplatform distribution. At launch, the new studio has set an initial distribution agreement with Chicken Soup for the Soul Entertainment’s Screen Media that will see Strong Studios produce two new scripted series, supernatural horror show “Safehaven” and Michael Rapaport dramedy “Flagrant,” for Screen Media this year. Both series will be launched through Screen Media’s streaming services Crackle, Popcornflix and Chicken Soup for the Soul, which have first rights to premiere.
“The launch of Strong Studios is a natural but...
- 3/7/2022
- by Jennifer Maas
- Variety Film + TV
The Robert Halmi library has a new home. Halcyon Television has been formed by Chicken Soup for the Soul Entertainment, the media company that acquired Sonar Entertainment last month.
Sonar had been headed by CEO David Ellender for the past two years. Halcyon is billed as a high-end scripted production company that is already shepherding multiple development projects. At present Halcyon’s roster of shows, inherited from Sonar, includes Amazon’s “Hunters” and Disney Plus’ “Mysterious Benedicts Society.”
Sonar acquired Halmi’s Rhi Entertainment assets out of bankruptcy in 2012. Sonar itself hit a cash flow crunch in 2019 after committing to a slew of projects. The sale of Sonar to Cos Cob, Conn.-based Chicken Soup for the Soul Entertainment (Csse) was confirmed April 9.
“The formation of Halcyon Television will help accelerate our company’s strategy to build the leading independent AVOD network in three ways. It will expand our original...
Sonar had been headed by CEO David Ellender for the past two years. Halcyon is billed as a high-end scripted production company that is already shepherding multiple development projects. At present Halcyon’s roster of shows, inherited from Sonar, includes Amazon’s “Hunters” and Disney Plus’ “Mysterious Benedicts Society.”
Sonar acquired Halmi’s Rhi Entertainment assets out of bankruptcy in 2012. Sonar itself hit a cash flow crunch in 2019 after committing to a slew of projects. The sale of Sonar to Cos Cob, Conn.-based Chicken Soup for the Soul Entertainment (Csse) was confirmed April 9.
“The formation of Halcyon Television will help accelerate our company’s strategy to build the leading independent AVOD network in three ways. It will expand our original...
- 5/3/2021
- by Cynthia Littleton
- Variety Film + TV
A is for Acquisition! Chicken Soup for the Soul Entertainment’s company Screen Media has acquired the North American rights to HBO’s Street Gang: How We Got To Sesame Street ahead of its world premiere at the 2021 Sundance Film Festival. Screen Media is set to release the docu in theaters and into the home entertainment market in Spring 2021. The HBO Documentary Film will debut on HBO and HBO Max later in the year.
Inspired by Michael Davis’ New York Times best-selling book and directed by Marilyn Agrelo (Mad Hot Ballroom), the documentary chronicles the improbable origins and expansion of the groundbreaking show that not only changed children’s television programming, but had real-world effects on equality, education, and representation worldwide.
In Street Gang: How We Got To Sesame Street, we are re-introduced to the visionary “gang” of mission-driven artists, writers, and educators that audaciously interpreted radical changes in society...
Inspired by Michael Davis’ New York Times best-selling book and directed by Marilyn Agrelo (Mad Hot Ballroom), the documentary chronicles the improbable origins and expansion of the groundbreaking show that not only changed children’s television programming, but had real-world effects on equality, education, and representation worldwide.
In Street Gang: How We Got To Sesame Street, we are re-introduced to the visionary “gang” of mission-driven artists, writers, and educators that audaciously interpreted radical changes in society...
- 12/18/2020
- by Dino-Ray Ramos
- Deadline Film + TV
Updated with closing stock price. Completing one of the more surprising media deals of late, Chicken Soup for the Soul Entertainment has taken full control of Crackle Plus, with Sony exercising its option to trade a minority stake for preferred stock.
In May 2019, Sony Pictures Television entered into an arrangement with Cos Cob, Ct-based Chicken Soup, surrendering operational control of Crackle but retaining a minority stake. A new entity, Crackle Plus, was formed to house a portfolio of ad-supported and subscription VOD networks, including Crackle, Popcornflix, Popcornflix Kids, Truli, Pivotshare, Españolflix and FrightPix. Crackle Plus has a library with 10,800 movies and 22,000 TV episodes.
Shares in Csse gained more than 5% on double their normal trading volume to close at an all-time high of $19.
The transaction gives Sony the right to obtain $40 million of preferred Csse stock in exchange for its stake. For the next 30 days, Chicken Soup has the right to...
In May 2019, Sony Pictures Television entered into an arrangement with Cos Cob, Ct-based Chicken Soup, surrendering operational control of Crackle but retaining a minority stake. A new entity, Crackle Plus, was formed to house a portfolio of ad-supported and subscription VOD networks, including Crackle, Popcornflix, Popcornflix Kids, Truli, Pivotshare, Españolflix and FrightPix. Crackle Plus has a library with 10,800 movies and 22,000 TV episodes.
Shares in Csse gained more than 5% on double their normal trading volume to close at an all-time high of $19.
The transaction gives Sony the right to obtain $40 million of preferred Csse stock in exchange for its stake. For the next 30 days, Chicken Soup has the right to...
- 12/15/2020
- by Dade Hayes
- Deadline Film + TV
Crackle has announced a new series from executive producer Ashton Kutcher.
“Going From Broke” takes a hard look at the nation’s student-loan crisis — and gives millennials a chance to dig themselves out of massive debt.
The series debuts exclusively on the free streaming service on Oct. 17. From Matador Content and Chicken Soup for the Soul Entertainment, “Going From Broke” is hosted by Chegg CEO Dan Rosensweig and features financial expert Danetha Doe. The pair go one-on-one with young people living in Los Angeles to help them change their habits, gain financial confidence and become CEO of their own lives. And yes, Kutcher will make an appearance in an episode. Watch an exclusive trailer above.
Also Read: Sony Sells Majority Stake of Crackle to Chicken Soup for the Soul
The 10-episode, half-hour series will also feature insights and advice from experts including personal finance journalist Jean Chatzky and bestselling author and podcast reporter Farnoosh Torabi.
“Going From Broke” takes a hard look at the nation’s student-loan crisis — and gives millennials a chance to dig themselves out of massive debt.
The series debuts exclusively on the free streaming service on Oct. 17. From Matador Content and Chicken Soup for the Soul Entertainment, “Going From Broke” is hosted by Chegg CEO Dan Rosensweig and features financial expert Danetha Doe. The pair go one-on-one with young people living in Los Angeles to help them change their habits, gain financial confidence and become CEO of their own lives. And yes, Kutcher will make an appearance in an episode. Watch an exclusive trailer above.
Also Read: Sony Sells Majority Stake of Crackle to Chicken Soup for the Soul
The 10-episode, half-hour series will also feature insights and advice from experts including personal finance journalist Jean Chatzky and bestselling author and podcast reporter Farnoosh Torabi.
- 9/18/2019
- by Margeaux Sippell
- The Wrap
Sony Pictures Television is taking the Crackle assets that had been under strategic review and contributing them to a new joint venture with a smaller but fast-growing streaming player, Chicken Soup for the Soul Entertainment.
The sale of Sony’s stake in Crackle will result in a new entity, dubbed Crackle Plus, combining Sony library assets and Crackle originals with the ad-supported VOD networks and subscription streaming platform run by Chicken Soup for the Soul. It will have an estimated 10 million monthly active users at launch, putting it in the same ballpark as free, ad-supported services like PlutoTV, which Viacom bought earlier this year, and Tubi. Comcast is also planning a major Avod service for 2020 across its Sky and U.S. cable footprints, contending that a subscription glut — and billions in brand dollars looking for screen time — mean Avod’s time has come.
Ever since Sony announced its plan to...
The sale of Sony’s stake in Crackle will result in a new entity, dubbed Crackle Plus, combining Sony library assets and Crackle originals with the ad-supported VOD networks and subscription streaming platform run by Chicken Soup for the Soul. It will have an estimated 10 million monthly active users at launch, putting it in the same ballpark as free, ad-supported services like PlutoTV, which Viacom bought earlier this year, and Tubi. Comcast is also planning a major Avod service for 2020 across its Sky and U.S. cable footprints, contending that a subscription glut — and billions in brand dollars looking for screen time — mean Avod’s time has come.
Ever since Sony announced its plan to...
- 3/28/2019
- by Dade Hayes
- Deadline Film + TV
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