Cosmo DeNicola Companies News

Tuesday, December 8, 2020

Crackle Wins Best Ad-Supported Video Service Award at Cynopsis Model D Awards

Streaming Network Also Awarded Outstanding Team of the Year Award

for Crackle Original Series ‘Going From Broke’

COS COB, CT - Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE), one of the largest operators of streaming advertising-supported video-on-demand (AVOD) networks, today announced that Crackle was awarded Best Ad-Supported Video Service at the Cynopsis Model D Awards. The company also won Outstanding Team of the Year for its original series Going From Broke.

The Crackle network is set apart from the rest of the AVOD industry with programming that is refreshed faster than other AVOD networks, as well as through its original and exclusive content. Crackle is also expanding distribution and has recently signed deals with companies such as PLEX, Vizio, and Cox Cable with several others launching in Q1 of 2021.

The Cynopsis Model D Awards, held on December 1^stand hosted by Cynopsis publisher Robbie Caploe, honor the best in online video content, advertising, talent and digital media’s movers and shakers. Crackle was announced as the winner for Best Ad-Supported Video Service by guest presenter and Pac-12 Network reporter Ashley Adamson. Fellow finalists included beIN SPORTS XTRA and XUMO. President of Crackle Plus Philippe Guelton accepted the award on behalf of the company.

Crackle was also awarded Outstanding Team of the Year for its original series Going From Broke, a series that aims to stamp out the $1.5 trillion owed in student debt in the U.S. Fellow nominees in this category included teams from ViacomCBS, Crunchyroll and others. The award was presented by guest presenter Alex Livingston, host of Morning Rush on Newsy, and was accepted by Crackle’s Senior Manager of PR & Marketing Chris Woolsey.

“We are pleased that our network and original programming have been recognized by an organization as well respected in our industry as Cynopsis,” said President of Crackle Plus, Philippe Guelton. “Our entire team works hard every day to give our viewers the greatest experience possible and it’s wonderful to see their efforts in the spotlight.”

Crackle can be accessed in the US on 29 devices and services including Amazon FireTV, RokuTV, Apple TV, Smart TVs (Samsung, LG, Vizio), gaming consoles (PS4 and XBoxOne), Plex, iOS and Android mobile devices and on desktops at Crackle.com. Crackle is also available in approximately 500,000 hotel rooms in the Marriott Bonvoy chain.

Monday, November 16, 2020

Chicken Soup for the Soul Entertainment and Sony Pictures Television Extend Crackle Plus Option

COS COB, CT – Chicken Soup for the Soul Entertainment Inc. (Nasdaq: CSSE), one of the largest operators of streaming advertising-supported video-on-demand (AVOD) networks, today announced the 30-day extension of a key deadline related to Sony Pictures Television’s (SPT) Crackle Plus ownership option.

Pursuant to the Crackle acquisition agreement in May of 2019, Sony Pictures Television was required to decide by November 14, 2020 whether to convert its current ownership of Chicken Soup for the Soul Entertainment’s Crackle Plus subsidiary into 49% of the common ownership of Crackle Plus or into $40 million of Chicken Soup for the Soul Entertainment’s preferred shares. SPT and the company have mutually agreed to an extension to consider these options and potential alternatives, and SPT will now be required to make a decision by December 14, 2020.

“We have always seen a path to an expanded relationship with Sony and we are looking forward to taking this additional time to evaluate opportunities to strengthen our partnership,” said William J. Rouhana Jr, Chairman & CEO of Chicken Soup for the Soul Entertainment.

Monday, November 16, 2020

Chicken Soup for the Soul Entertainment Reports Q3 2020 Results

Strong performance across Online Networks and Distribution & Production businesses drives significant growth

COS COB, CT – Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE), one of the largest operators of streaming advertising-supported video-on-demand (AVOD) networks, today announced its financial results for the third quarter ended September 30, 2020.

Third Quarter 2020 Financial Summary

Gross revenue of $20.0 million, compared to $13.9 million in the second quarter of 2020, and $17.0 million in the year-ago period.
Net loss of $13.0 million compared to a net loss of $10.0 million in the second quarter of 2020, and a net loss of $13.3 million in the year-ago period; $12.0 million net loss before preferred dividends, compared to $9.0 million net loss in the second quarter 2020, and $12.4 million net loss before preferred dividends in the year-ago period.
Adjusted EBITDA of $4.2 million, compared to $2.7 million in the second quarter 2020, and a loss of $0.4 million in the year-ago period.
Online Networks, which include Crackle and Popcornflix, revenue of $6.7 million compared to $5.4 million in the second quarter of 2020, and $14.4 million in the year-ago period. The year-over-year decline reflects approximately $6.2 million in advertising revenue in the year ago period from the since-shuttered Playstation Vue, and intercompany revenue share payments in the 2020 period of $1.3 million to our Distribution & Production business for the licensing of content from our sister company, Screen Media.
Distribution & Production revenue of $13.3 million compared to $8.5 million in the second quarter of 2020, and $2.7 million in the year-ago period due to strength in content licensing and TVOD revenue.

Recent Business Highlights

Continued to expand pipeline of Original & Exclusive content which represented 16% of average monthly streaming hours in the quarter, compared to just 2% a year ago.
Online Networks delivered steady viewership throughout the quarter and sequential growth in ad impressions. The latest Crackle original series, Spides, premiered on September 17^th, and drove over one million streams in its first two weeks.
Distribution and Production generated strong performance driven by the #1 TVOD hit The Outpost as well as the company’s growing library of film and television content.
Today the company agreed to a 30-day extension of a key decision deadline, to December 14, 2020, as the Crackle Plus joint venture partners assess the possibility of closer collaboration.

“Our strong third quarter results demonstrate that we are continuing our momentum, despite the pandemic, and we are poised for a terrific end to 2020,” said William J. Rouhana Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment. “Viewers are engaging with our differentiated and expanding Original and Exclusive content, and our Distribution and Production business generated an exceptional performance driven by one of the summer and fall’s most-watched films on VOD, The Outpost. We are now turning our focus to growing awareness of our Crackle Plus networks to scale viewership, while continuing to expand our stable of fully owned content, which will drive both future revenue opportunity and higher margins. We’ve also enhanced our balance sheet, working capital position and financial flexibility. We believe we are in an excellent position to drive greater levels of growth in 2021 as we capitalize on the robust opportunities ahead in the emerging AVOD landscape.”

Gross profit for the quarter ended September 30, 2020 was $4.5 million, or 23% of net revenue, compared to $0.6 million in the second quarter, or 4% of net revenue, and $3.2 million, or 19% of net revenue for the year-ago period. The change in the percentage of gross profit resulted in part from non-cash amortization of the film library in the company’s traditional distribution business, which is required by GAAP to be included in cost of revenue. Without this non-cash film library amortization expense, the gross profit would have been $12.5 million or 65% of total net revenue.

Operating loss for the quarter ended September 30, 2020 was $11.3 million compared to an operating loss of $13.1 million in the second quarter 2020, and $9.6 million in the year-ago period. Without this film library amortization expense and other depreciation and amortization, operating income would have been $1.3 million.

Net loss was $13.0 million, or $1.04 per share, compared to a net loss of $10.0 million, or $0.83 per share, in the second quarter 2020, and a net loss of $13.3 million, or $1.11 per share in the prior-year third quarter. Excluding preferred dividends, the net loss in the third quarter of 2020 would have been $12.0 million, or $0.96 per share, compared to net loss of $12.4 million, or $1.03 per share for the year-ago period.

Adjusted EBITDA for the quarter ended September 30, 2020 was $4.2 million, compared to $2.7 million in the second quarter 2020, and a loss of $0.4 million in the year-ago period.

As of September 30, 2020, the company had $9.2 million of cash and cash equivalents compared to $6.2 million at September 30, 2019, and outstanding debt of $34.8 million as of September 30, 2020 compared to $20.2 million as of September 30, 2019.

For a discussion of the financial measures presented herein which are not calculated or presented in accordance with U.S. generally accepted accounting principles (“GAAP”), see “Note Regarding Use of Non-GAAP Financial Measures” below and the schedules to this press release for additional information and reconciliations of non-GAAP financial measures.

The company presents non-GAAP measures such as Adjusted EBITDA and Pro Forma Adjusted EBITDA to assist in an analysis of its business. These non-GAAP measures should not be considered an alternative to GAAP measures as an indicator of the company's operating performance.

Thursday, November 5, 2020

Chicken Soup for the Soul Entertainment’s Crackle Plus to Launch Crackle Button on 2021 VIZIO SmartCast® TV Remotes

Crackle-Branded Remote Button Will Make It Even Easier For VIZIO TV Customers to Access Crackle Movies, TV Shows and Exclusive Content on SmartCast TVs

COS COB, CT – Chicken Soup for the Soul Entertainment Inc. (Nasdaq: CSSE), one of the largest operators of streaming advertising-supported video-on-demand (AVOD) networks, today announced an agreement with VIZIO, the #1 American-based TV brand, to add a Crackle-branded button to select 2021 VIZIO SmartCast TV remotes.

A push of the Crackle-branded button on the VIZIO remote will take a viewer directly to the Crackle app on their new SmartCast TV, giving viewers instant access to thousands of hours of original and exclusive content, as well as blockbuster Hollywood hits, and episodes of classic TV shows. Crackle’s button will be one of six easy-access buttons on the remote available with select SmartCast TVs in 2021.

“As one of the top connected TV manufacturers, reaching millions of consumer audiences, VIZIO has built a unique out of the box experience for consumers and serves as one of our top distribution platform partners. Putting Crackle on the VIZIO remote makes it even easier for new SmartCast customers to instantly access and enjoy Crackle’s expansive library of free studio movies, classic TV shows and a full slate of original and exclusive content,” said Philippe Guelton, President of Crackle Plus. “The smart TV portion of the connected TV business is growing at a rapid pace and we want to be in all of the places where viewer growth is the greatest. This is a great example of the steps we are taking to expand our reach beyond traditional streaming devices, putting desired content right at the consumer’s fingertips.”

As one of the only AVOD services continually adding original and exclusive programming that uplifts, entertains, and inspires audiences, Crackle offers original and exclusive titles that can only be found for free on Crackle, including Lennox Lewis: The Untold Story, Spides, Corporate Animals, Blue Iguana, Anything is Possible - The Serge Ibaka Story, Road to Race Day, On Point, Cleanin’ Up the Town: Remembering Ghostbusters, The Clearing, Yelawolf: A Slumerican Life, and Going From Broke, which was recently picked up for a second season.

Crackle and Popcornflix linear and VOD networks will each be available in the U.S. on up to 27 devices and services by the end of the year including Amazon FireTV, RokuTV, Apple TV, Smart TVs (Samsung, LG, VIZIO), gaming consoles (PS4 and Xbox One), Plex, iOS and Android mobile devices and on desktops at Crackle.com. Crackle is also available in approximately 500,000 hotel rooms in the Marriott Bonvoy chain.

Friday, October 16, 2020

HIGH PARK ENTERTAINMENT WITH CHICKEN SOUP FOR THE SOUL ENTERTAINMENT’S LANDMARK STUDIO GROUP, TO PRODUCE NEW FEATURE FILM, “TRIGGER POINT"

The First Action-Thriller Film in a Planned Franchise to Begin Production Near Toronto on October 26^th with Brad Turner Directing

Toronto, Ontario CANADA – High Park Entertainment (Netflix’s V-Wars and October Faction), in association with Landmark Studio Group (Willy’s Wonderland, Safehaven), a Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) company, announced today the start of production on an all-new action-thriller feature film, Trigger Point, starring multi-award-winning talent, Barry Pepper (The Kennedys, Running with the Devil, Saving Private Ryan, The Green Mile).

Trigger Point, which will enter production on October 26^th near Toronto, will be directed by Brad Turner (24, Designated Survivor, Homeland) and the screenplay is by Michael Vickerman (Tut, Impact). The feature will be executive produced by Turner, Vickerman, Pepper, Jessica Petelle, High Park Entertainment’s Eric Birnberg and Thomas Walden, Landmark Studio Group’s David Ozer and Tim Rouhana, Chicken Soup for the Soul Entertainment’s David Fannon, Seth Needle and Conor McAdam, and David Nagelberg. Thomas Vencelides serves as producer. Landmark Studio Group will market the film.

Pepper has a history of taking on courageous and dramatic roles such as those in Saving Private Ryan, The Green Mile and True Grit. He received an Emmy Award for his portrayal of Bobby Kennedy in The Kennedys and a Golden Globe Award nomination for his portrayal of Roger Maris in the HBO sports drama 61*. Pepper can be seen recently in last year's hit Paramount film, Crawl.

Trigger Point is the first in a planned series of action franchise films centered around lead character, Nicolas Shaw (Pepper), who is a retired U.S. special operative who worked in the darkest shadows of the government, part of an elite “invisible” team that quietly took out some of the worst villains around the world. After being blamed for the exposure, and ultimately the assassination, of several members of his own team Nicolas disappeared into a life of solitude and indignity. Now two years removed, he is reluctantly drawn back into this dangerous world - with both enemies and supposed friends coming after him to not only clear his name, but to prevent the killing of a new generation of noble operatives.

“We are excited to be getting back into production and collaborating with Landmark Studio Group and the tremendous cast and crew we have on board for Trigger Point,” commented High Park Entertainment’s Birnberg. “We have a stellar script with a dynamic lead character that will no doubt translate into multiple compelling storylines for years to come.”

“Trigger Point has all the elements to become a global action movie franchise led by the talents of Barry Pepper, with Brad Turner directing and an all-star production team in Canada,” stated Landmark Studio Group’s Ozer. “We are excited to be working with High Park Entertainment to bring the Nicolas Shaw character to life for a global audience”

ABOUT HIGH PARK ENTERTAINMENT

High Park Entertainment and its principals specialize in producing, co-producing and executive producing film and television content for the international marketplace. Recent productions include the action film series, Trigger Point; and two Netflix Original series, V-Wars, starring Ian Somerhalder, and October Faction, starring Tamara Taylor. Previous co-productions include feature film thrillers The Privileged, starring Sam Trammell, and Nightrunners, shot in rural Kenya and premiered at the Zanzibar International Film Festival. Previous executive productions include the animated family feature film Pirate’s Passage, starring Donald Sutherland. High Park Entertainment is headquartered in Toronto.

Visit: https://www.highparkentertainment.com/

ABOUT LANDMARK STUDIO GROUP

Landmark Studio Group, a Chicken Soup for the Soul Entertainment company, is a fully-integrated entertainment company, which aims to create compelling, engaging and entertaining content for global distribution utilizing internal distribution channels, including Crackle Plus and Screen Media Ventures, or in partnership with third party platforms. Recent projects include the feature film Willy’s Wonderland, starring Nicolas Cage; the action film series, Trigger Point; and the television series, SafeHaven, as well as projects in active development to be produced in Fall 2020 and beyond, including the original dramedy series, Flagrant, starring Michael Rapaport. Landmark Studio Group is headquartered in New York with offices in Los Angeles.

Tuesday, October 6, 2020

CRACKLE ANNOUNCES THE US PREMIERE OF ORIGINAL SPORTS DOCUMENTARY, ‘LENNOX LEWIS: THE UNTOLD STORY,’ AVAILABLE OCTOBER 15

Narrated by Dr. Dre, the documentary on the undisputed heavyweight world champion joins the free streaming platform’s growing original and exclusive content library

NEW YORK, N.Y., – Crackle Plus, a Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) company and one of the largest operators of streaming advertising-supported video-on-demand (AVOD) networks, announced today the premiere of its original documentary, Lennox Lewis: The Untold Story, launching on Thursday, October 15.

Lennox Lewis: The Untold Story follows the three-time world heavyweight boxing champion, Lennox Lewis, as he defies all odds on his inspiring journey to become one of the most decorated boxers in history. Narrated by Dr. Dre, the documentary features never-before-seen footage from Lewis’ personal archives, extensive interviews with Lewis and some of his greatest competitors including Mike Tyson, George Foreman, and Evander Holyfield.

As one of the only AVODs continually adding original and exclusive programming that uplifts, entertains, and inspires audiences, Crackle adds Lennox Lewis: The Untold Story alongside original and exclusive titles that can only be found on Crackle, including Spides, Corporate Animals, Blue Iguana, Anything is Possible - The Serge Ibaka Story, Road to Race Day, On Point, Cleanin’ Up the Town: Remembering Ghostbusters, The Clearing, Yelawolf: A Slumerican Life, and Going From Broke, recently picked up for a second season.

Lennox Lewis: The Untold Story is distributed in North America by Screen Media, a Chicken Soup for the Soul Entertainment company, and the supplier of exclusive and original content for Crackle Plus.

From a modest and challenging upbringing to an Olympic Gold medal and reign as undisputed heavyweight champion, Lewis’ story is one of redemption and forgiveness and the perseverance and strength needed to overcome obstacles. The documentary unfolds his inspirational journey as Lewis draws back the curtain on his childhood and career to unveil what makes a true champion. Directed by Rick Lazes and Seth Koch, Lennox Lewis: The Untold Story was written by Josh Dubin and Koch. The film is a Verdi Production and was produced by Chad A. Verdi, Rick Lazes, Nick Koskoff and Tom DeNucci. Emma Tillinger Koskoff and Michelle Verdi executive produced

“The documentary delivers a powerful message and I am so glad we were able to tell this story,” said Lewis. “For anyone watching who feels they can’t make it in life, I am proof that you can.”

“We are proud to bring this inspirational story of Lennox’s historic boxing career to Crackle,” said Richard De Croce, SVP of Programming at Crackle Plus. “We know our audience will appreciate Lennox’s passion and determination to overcome the obstacles he’s faced and reach his dreams both in and out of the ring.”

Crackle is available in the U.S. and can be accessed on 26 devices and services including Amazon FireTV, RokuTV, Apple TV, Smart TVs (Samsung, LG, Vizio), gaming consoles (PS4 and XBoxOne), Plex, iOS and Android mobile devices and on desktops at Crackle.com. Crackle is also available in approximately 500,000 hotel rooms in the Marriott Bonvoy chain.

Thursday, October 1, 2020

‘Spides’ Exceeds One Million Views on Crackle in Just Two Weeks

Crackle Original Scripted Series Reaches Over 5 Million Ad Impressions

COS COB, CT –Chicken Soup for the Soul Entertainment Inc. (Nasdaq: CSSE), one of the largest operators of streaming advertising-supported video-on-demand (AVOD) networks, today announced that Crackle’s latest original series Spides has driven over one million streams in less than two weeks on the free streaming platform making it the number one scripted series on Crackle.

Spides is on track to be the most successful scripted series in Crackle’s history. The series follows the success of other Crackle originals like Going From Broke which has received over 16 million views since its release in October 2019 and On Point which has received over 15 million views since its release in February of 2020.

The series, which premiered on Crackle on September 17^th, is set in modern-day Berlin and stars Rosabell Laurenti Sellers (Game of Thrones) as Nora who falls into a coma after taking an unknown drug and wakes with no memory of her previous life. Meanwhile, local police detectives David Leonhart, played by Falk Hentschel (Legends Of Tomorrow, Marvel’s Agents Of S.H.I.E.L.D.), and Nique Navar, played by Florence Kasumba (Avengers, Black Panther), work to track down the drug which is connected to dozens of missing teenagers. In Nora’s quest to discover what happened to her, she uncovers a conspiracy of aliens who are using a synthetic drug to infiltrate humans to use as host bodies.

"We're thrilled by our audience’s reaction to our Crackle Original series, Spides. This series has everything our fans have come to expect from our sci-fi titles…great storytelling, fantastic performances, and an inspiring journey that follows the show's lead, Rosabell Laurenti Sellers, overcoming enormous challenges in heroic fashion," said Richard De Croce, senior vice president of programming for Crackle.

The series has garnered over 5 million ad impressions. “We were hopeful that our audience would have an enthusiastic reaction to Spides since they have always supported our sci-fi content, but the series has truly taken Crackle by storm since it launched two weeks ago,” said Philippe Guelton, president of Crackle Plus. “By offering our viewers and advertisers content that is unique and engaging, Crackle is a known and trusted destination for viewers."

Thursday, September 24, 2020

Chicken Soup for the Soul Entertainment Announces New Programming License Deals for Crackle Plus

License Deals with KDMG, Endemol Shine International, TBN, and The Film Detective

The new license deals cover approximately 1,600 hours of content from companies including KDMG, Endemol Shine International, The Film Detective, Arclight, and TBN.

The 1,600 hours of content includes movies and series with must-see programs like Night of the Living Dead, Charade, and House on Haunted Hill from The Film Detective, Legion of Honor from KDMG, The Omega Code from TBN, Dance of the Dragon, Ghost Rituals, and Dinosaur Island from Arclight, and eight seasons of the acclaimed Australian drama series McLeod’s Daughters as well as three seasons of the popular reality series Flavor of Love from Endemol Shine International.

The above titles join the existing library for a total of over 80,000 hours of content available to Crackle Plus. This includes original and exclusive programming such as Spides, Corporate Animals, The Sonata, Blue Iguana, Crown Vic, The Clearing, On Point, Going From Broke, ’85: The Greatest Team in Football History, Road to Race Day and Cleanin’ Up the Town.

“Our viewers who come to Crackle Plus seeking quality scripted television, feature films, and reality television will be happy to binge on these newly added titles including Night of the Living Dead from The Film Detective, and acclaimed Australian drama series McLeod’s Daughters,” said Richard De Croce, senior vice president of programming for Crackle Plus

Crackle Plus obtained the right to exhibit new content from various license deals through sister company Screen Media.

Crackle is available in the U.S. on 26 devices and services including Amazon FireTV, RokuTV, Apple TV, Smart TVs (Samsung, LG, Vizio), gaming consoles (PS4 and XBoxOne), on iOS and Android mobile devices and on desktops at Crackle.com. Crackle is also available in approximately 500,000 hotel rooms in the Marriott Bonvoy chain.

Tuesday, September 15, 2020

SCREEN MEDIA AND FILM MODE BRINGING BRUCE WILLIS-THRILLER ANTI-LIFE TO MARKET

Action packed sci-fi/feature makes TIFF 2020 Market Premiere with numerous confirmed sales across the globe

TORONTO – In partnership with Screen Media, a Chicken Soup for the Soul Entertainment company, Clay Epstein’s Film Mode Entertainment is thrilled to announce the market premiere of ANTI-LIFE (aka BREACH) at the 2020 Toronto International Film Festival. After making waves in the international marketplace, the action-packed sci-fi feature will be available to TIFF buyers.

“The marketplace will not be disappointed with the highly anticipated screening of Anti-Life. Bruce Willis and Thomas Jane are at their best in this action-packed adventure,” said Epstein.

Over the span of his decades long career, Bruce Willis has amassed a giant global following and has box office earnings totaling upwards of $3.6B domestically. While he’s widely known for being an action hero, Willis’ extensive skillset consistently results in celebrated roles across most every genre. His talent and personality has consistently kept global audiences along with his dedicated and expansive following captivated for years.

ANTI-LIFE/BREACH has been met with an overwhelmingly positive response from the international marketplace. Recent sales include Benelux – Dutch Film Works, France – Metropolitan, Portugal – Films4You Ltd., Scandinavia – Scanbox, Spain – Twelve Oaks Pictures, United Kingdom – Signature Entertainment, Bulgaria – bTV Media Group, CIS – Paradise Film, Ex-Yugoslavia – Blitz, Hungary – RTL Hungary, Poland – Monolith, Romania – Programs4Media, Cambodia, Malaysia and Brunei – Suraya, Indonesia – PT Falcon, Japan – Presidio, , Pan-Asian PTV – Disney Networks, South Korea – Storm Pictures Korea, Middle East – Eagle Films Entertainment, Australia/New Zealand – Eagle Entertainment, Airline – Terry Steiner International.

ANTI-LIFE/BREACH stars Bruce Willis who’s known worldwide for his performances in the DIE HARD franchise and GLASS, as well as Rachel Nichols (STAR TREK, G.I. JOE: THE RISE OF COBRA), and Thomas Jane (THE PREDATOR (2018), THE PUNISHER). The film also stars Cody Kearsley, who has developed an immense following and fan-base from his role in RIVERDALE.

A hardened mechanic (Bruce Willis) is one of a few chosen to stay awake and maintain an interstellar arc fleeing a dying planet Earth with a few thousand lucky souls on board… the last of humanity. Unfortunately, humans are not the only guests on board. A shape-shifting alien creature has also taken residence and its only goal is to kill as many people as possible. Now, the crew must think quickly and try to stop this menace before it destroys humanity.

Stay tuned for additional sales and release dates.

Screening opportunities available per request and by appointment.

Film Mode Entertainment is handling international rights on the film.

About Screen Media Ventures, LLC

Screen Media Ventures, LLC, a Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) company, acquires the rights to high quality, independent television series and feature films for the US and Canada. Screen Media Ventures acquires worldwide rights for distribution through theatrical, home video, pay-per-view, free, cable and pay television, video-on-demand, and new digital media platforms. The company acquires AVOD rights for third party networks and is the main supplier of content for Crackle Plus and other Chicken Soup for the Soul Entertainment properties. With a library of over 1,500 television series and motion pictures, Screen Media Ventures is one of the largest independent suppliers of high-quality tv series and motion pictures to U.S. and international broadcast markets, cable networks, home video outlets and new media venues. For more information, visit: www.screenmedia.net.

About Chicken Soup for the Soul Entertainment

Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) operates streaming video-on-demand networks (VOD). The company owns a majority stake in Crackle Plus, a company formed with Sony Pictures Television, which owns and operates a variety of ad-supported and subscription-based VOD networks including Crackle, Popcornflix, Popcornflix Kids, Truli, Pivotshare, Españolflix and FrightPix. The company also acquires and distributes video content through its Screen Media subsidiary and produces original long and short-form content through Landmark Studio Group, its Chicken Soup for the Soul Originals division and APlus.com. 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.

About Film Mode Entertainment

Film Mode Entertainment is a leading worldwide sales agent, production entity and distribution company, focusing on commercially driven feature films of all genres and budget sizes. Film Mode represents projects at all stages of the filmmaking process, often as Executive Producer, with the aim of helping producers and distributors achieve maximum exposure for their films. Film Mode’s recent titles include CRYPTO starring Kurt Russell, Luke Hemsworth and Alexis Bledel, HOOKING UP starring Brittany Snow, Sam Richardson and Vivica A. Fox, STAGE MOTHER starring Academy Award nominee Jacki Weaver, Lucy Liu and Adrian Grenier, and BURN starring Josh Hutcherson and Suki Waterhouse.

Previous releases include SUGAR MOUNTAIN starring Jason Momoa, and THE GOOD NEIGHBOR starring Academy Award nominee James Caan. Film Mode accelerated their growth and expanded their capabilities by entering into a partnership with SCREEN MEDIA, representing their catalogue of more than 1500 titles, including WHAT’S EATING GILBERT GRAPE starring Leonardo DiCaprio, who was nominated for an Academy Award and a Golden Globe for his performance, and MONSTER, starring Charlize Theron who won an Academy Award and Golden Globe for Best Actress for the film. The company also has its own distribution arm, as well as a documentary label, DocMode. Film Mode is based in Beverly Hills, CA.

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Monday, September 14, 2020

Chicken Soup for the Soul Entertainment's Screen Media and Great Point Media Establish a Film Acquisition Fund

Chicken Soup for the Soul Entertainment’s Screen Media and Great Point Media Establish a Film Acquisition Fund

$10M Initial Film Acquisition Fund Is Next Step in Growing Relationship

COS COB, CT - Chicken Soup for the Soul Entertainment Inc. (Nasdaq: CSSE), one of the largest operators of streaming advertising-supported video-on-demand (AVOD) networks, today announced that its subsidiary Screen Media Ventures and Great Point Media have closed a new film acquisition facility initially funded at $10M.

“This financing allows us to build on our momentum in delivering higher-profile movies and TV series at a significantly lower cost of capital. Since Chicken Soup for the Soul Entertainment acquired Screen Media and Crackle, producers have been bringing us higher profile film and TV projects, like The Outpost, and the original series On Point, both of which have been phenomenal successes for the company,” said David Fannon, president of Screen Media. “We have a solid track record of identifying content that will be successful and this fund enables us to significantly expand our library by acquiring that type of content when it is available.”

“We are excited to again be working with Chicken Soup for the Soul Entertainment. We had previously financed two of their upcoming films, Willy’s Wonderland starring Nicolas Cage which has been completed and Trigger Point which will begin production shortly,” said Robert Halmi, chairman of Great Point Media. “We are already looking forward to expanding our relationship even further and expect to do so in the near future.”

“Our company, and our Screen Media business specifically are differentiated by a capital-efficient, lower-risk approach to acquiring content. This new fund which is 100% funded by Great Point Media, is structured with that approach front and center, creating a great opportunity to accelerate our content acquisition activities,” said William J. Rouhana Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment. “We look forward to continue expanding our relationship with Great Point Media.”

ABOUT CHICKEN SOUP FOR THE SOUL ENTERTAINMENT

ABOUT SCREEN MEDIA VENTURES, LLC

Screen Media Ventures, LLC, a Chicken Soup for the Soul Entertainment (Nasdaq: CSSE) company, acquires the rights to high quality, independent television series and feature films for the US and Canada. Screen Media Ventures acquires worldwide rights for distribution through theatrical, home video, pay-per-view, free, cable and pay television, video-on-demand, and new digital media platforms. The company acquires AVOD rights for third party networks and is the main supplier of content for Crackle Plus and other Chicken Soup for the Soul Entertainment properties. With a library of over 1,500 television series and motion pictures, Screen Media Ventures is one of the largest independent suppliers of high-quality TV series and motion pictures to U.S. and international broadcast markets, cable networks, home video outlets and new media venues. For more information, visit: www.screenmedia.net.

ABOUT GREAT POINT MEDIA GROUP

Founded in 2013 by Robert Halmi and Jim Reeve, Great Point Media specializes in the development, investment, distribution and sales of intellectual property in entertainment media. The U.K.-based company has produced and helped bring to the screen such acclaimed films as Damsel, Love After Love, The Party and Lady Macbeth.

Co-founder Robert Halmi is an Emmy Award and Golden Globe Award-winning film and television producer with over 300 production credits, including Tin Man, Farscape and Lonesome Dove.

Co-founder Jim Reeve is an Emmy Award-winning producer with 25 years’ experience in production finance and distribution with credits including Foyle’s War and Jack Higgins’ On Dangerous Ground.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks (including those set forth in the Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 30, 2020) and uncertainties which could cause actual results to differ from the forward-looking statements. The company expressly disclaims any obligations 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. Investors should realize that if our underlying assumptions for the projections contained herein prove inaccurate or that known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections.

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