Chicken Soup for the Soul Entertainment’s Redbox Transactional Video-on-Demand (TVOD) Service Has the Largest Revenue Week in the Company’s History
22 Mayo 2023 - 7:00AM
Business Wire
Premium window launch of The Super Mario Bros.
Movie breaks record set by Avatar: The Way of Water
More new movies continue to be added to Redbox
kiosks, including Creed III, Shazam! Fury of the Gods and Marvel’s
Ant-Man and The Wasp: Quantumania
Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) today
announced that Redbox’s Transactional Video-on-Demand (TVOD)
service had its largest revenue week in the company’s history. The
Premium Video-on-Demand (PVOD) and Premium Electronic Sell Through
(PEST) debut of the massive animated hit The Super Mario Bros.
Movie surpassed the recent record PEST launch of Avatar: The Way of
Water.
The rollout of new release movies to Redbox kiosks continues to
occur. Consumers can rent three highly anticipated movies this week
– MGM’s Creed III, Warner Bros.’ Shazam! Fury of the Gods and
Marvel’s Ant-Man and The Wasp: Quantumania. Next week Paramount’s
Dungeons & Dragons: Honor Among Thieves and Sony Pictures’ 65
will debut. These films are among many that will premiere on a
consistent basis in the coming months.
“It’s clear that movie fans have a voracious, pent-up demand for
big new release movies, which is something we’ve long expected,”
said William J. Rouhana Jr., chief executive officer of Chicken
Soup for the Soul Entertainment. “Starting this week, we will have
major releases coming to our kiosks every week through the end of
the year and launches of premium window titles through our Redbox
TVOD service. More movies mean more rentals and more revenue.”
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 nearly 180 FAST channels as well as
a transaction video on demand (TVOD) service, and a network of
approximately 31,000 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 book series and
produces super-premium pet food under the Chicken Soup for the Soul
brand name.
Forward-Looking Statements and Available Information
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 risks relating 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, ability to achieve and sustain market acceptance of
our content streaming services and other content offerings, ability
to recruit and retain officers, key employees, or directors,
ability to protect our intellectual property, ability to complete
and integrate into our existing operations future strategic
acquisitions, ability to manage growth, ability to pay dividends
and our debt obligations, as well as evolving regulatory or other
operational risks, and risks presented by changing general market
conditions impacting demand for our services. For a more complete
description of these and other risks and uncertainties, please
refer to Item 1A (Risk Factors) in the Company’s Annual Report on
Form 10-K for the year ended December 31, 2022 filed with the SEC
on March 31, 2023. 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, November 14, 2022 and thereafter from time to
time, and all exhibits filed with respect to such reports. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230521005040/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
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