Chicken Soup for the Soul Entertainment Inc. (Nasdaq: CSSE), one
of the largest providers of premium content to value-conscious
consumers and Asia’s leading entertainment network and
multi-channel operator, KC Global Media, today announced an
agreement for the expansion of the companies' international reach
across free ad-supported streaming television (FAST) and
ad-supported video-on-demand (AVOD). The agreement further enhances
growth across Asia, featuring a fresh volume of curated genres,
including hit series, movies, and factual titles such as Lionel
Messi: The Greatest, BTS: Global Takeover, Adele: Homecoming, and
many others. The companies anticipate launching additional FAST
channels and licensing AVOD rights in 2023.
“One of our areas of focus in 2023 is to grow the availability
of our owned content globally – and monetize it in every way
possible,” said Elana Sofko, Chief Strategy Officer of Chicken Soup
for the Soul Entertainment. “We always seek to work with prominent
media companies already successful in the markets we are entering.
KC Global Media is a company with deep relationships throughout
Asia, and we know we can continue to scale our international
business together.”
Andy Kaplan, Co-Founder and Chairman of KC Global Media, said,
“As we head into 2023, one of our key strategic goals is to
increase our volume and diversity of premiums content in our
current portfolio. Chicken Soup for the Soul Entertainment is one
of the largest content providers, and this strategic partnership
gives us an edge as we provide more value to our partners and
affiliates in the region. This, in turn, will also enable us to
reach out to new audiences and new territories and create more
opportunities around the world as we continue to grow our business
with our affiliates and streaming platforms.”
This strategic agreement strengthens Chicken Soup for the Soul
Entertainment’s international presence as it joins KC Global
Media’s extensive portfolio in Asia, through AVOD licensing with
its wide variety of content across multi-genres and the launch of
FAST Channels in Asia. As one of the largest AVOD companies in the
United States, Chicken Soup for the Soul Entertainment’s streaming
services, Crackle and Redbox, are currently distributed through
over 160 touchpoints on platforms including Amazon Fire TV, RokuTV,
Apple TV, Smart TVs (Samsung, LG, VIZIO), gaming consoles (PS4 and
Xbox One), iOS, and Android mobile devices and on desktops at
Crackle.com and Redbox.com.
About KC Global Media KC Global Media Entertainment LLC is a
global multi-media company based in the United States. The
brainchild of former Sony executives Andy Kaplan and George Chien,
KC Global Media Asia (KCGM Asia) is Asia’s leading entertainment
hub through the production, distribution and programming of
quality, ground-breaking content. Backed by more than two decades
of industry experience, KCGM Asia boasts an impressive portfolio of
premium pay-TV channels in South-East Asia and Korea, including
English-language general entertainment network AXN, anime channel
Animax, South Korea’s ONE and Japanese entertainment channel GEM.
By combining award-winning and well-loved entertainment formats
with extensive knowledge and insight of the Asia Pacific market,
KCGM Asia is paving the way for a new standard of entertainment in
Asia and beyond.
Facebook: @KCGlobalMedia | Instagram: @KCGlobalMediaAsia |
LinkedIn: @KCGlobalMediaAsia
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 over 160 channels as well as a
transaction video on demand (TVOD) service, and a network of
approximately 34,000 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 books series and
produces super-premium pet food under the Chicken Soup for the Soul
brand name.
Forward-Looking Statements 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
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, the ability of the Company’s content
offerings to achieve market acceptance, the Company’s success in
retaining or recruiting officers, key employees, or directors, the
ability to protect intellectual property, the ability to complete
strategic acquisitions, the ability to manage growth and integrate
acquired operations, the ability to pay dividends, regulatory or
operational risks, and general market conditions impacting demand
for the Company’s services. For a more complete description of
these and other risks and uncertainties, please refer to Item 1A
(Risk Factors) in the Company’s Quarterly Report on Form 10-Q for
the three- and nine-month period ended September 30, 2022, filed
with the SEC on November 14, 2022. 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, and November 14,
2022, and all exhibits filed with respect to such reports and the
aforementioned registration statement. 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/20230228006236/en/
Chicken Soup for the Soul Entertainment (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
KC Global Media Entertainment Marvin Poh Manager, PR and
Communications marvin.poh@kcglobalmedia.com
Shane Lee Vice President and Head, Marketing and Communications
shane.lee@kcglobalmedia.com
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