Cosmo DeNicola Companies News


Monday, September 18, 2023

“BARBIE” COMES TO REDBOX PREMIUM TRANSACTIONAL VIDEO ON DEMAND (TVOD)



The biggest movie of the year is available for rent or purchase on the Redbox app 


COS COB, CONN.– Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) today announced “Barbie” – the number one movie of 2023 – is now available on the Redbox streaming app for rental or purchase. Fans can now get their pink on through Premium Video on Demand (PVOD) or Premium Electronic Sell Through (PEST) and always be in Barbie Land. 


The Redbox streaming app is available on a wide range of devices, including Roku, Samsung TVs, VIZIO, and many others. The app also gives viewers access to thousands of free movies, TV series, and over 180 Free Ad-Supported Streaming Television (FAST) channels. 


“Barbie is a cultural moment in cinema history that brought millions of fans together and made it the number one movie of 2023 – and the 15th biggest movie of all-time,” said Phil Oppenheim, chief content officer of Chicken Soup for the Soul Entertainment. “This success is due to the high quality of the film, Greta Gerwig’s fantastic writing and directing, and Margot Robbie and Ryan Gosling’s performances. Our viewers are in for a treat today.” 

To live in Barbie Land is to be a perfect being in a perfect place. Unless you have a full-on existential crisis. Or you’re a Ken.

From Oscar-nominated writer/director Greta Gerwig (“Little Women,” “Lady Bird”) comes “Barbie,” starring Oscar nominees Margot Robbie (“Bombshell,” “I, Tonya”) and Ryan Gosling (“La La Land,” “Half Nelson”) as Barbie and Ken, alongside America Ferrera (“End of Watch,” the “How to Train Your Dragon” films), Kate McKinnon (“Bombshell,” “Yesterday”), Issa Rae (“The Photograph,” HBO’s “Insecure”), Rhea Perlman (“I’ll See You in My Dreams,” “Matilda”), and Will Ferrell (the “Anchorman” films, “Talladega Nights”). The film also stars Michael Cera (“Scott Pilgrim vs. the World,” “Juno”), Ariana Greenblatt (“Avengers: Infinity War,” “65”), Ana Cruz Kayne (“Little Women”), Emma Mackey (“Emily,” “Sex Education”), Hari Nef (“Assassination Nation,” “Transparent”), Alexandra Shipp (the “X-Men” films), Kingsley Ben-Adir (“One Night in Miami,” “Peaky Blinders”), Simu Liu (“Shang-Chi and the Legend of the Ten Rings”), Ncuti Gatwa (“Sex Education”), Scott Evans (“Grace and Frankie”), Jamie Demetriou (“Cruella”), Connor Swindells (“Sex Education,” “Emma.”), Sharon Rooney (“Dumbo,” “Jerk”), Nicola Coughlan (“Bridgerton,” “Derry Girls”), Ritu Arya (“The Umbrella Academy”), Grammy Award-winning singer/songwriter Dua Lipa and Oscar-winner Helen Mirren (“The Queen”).
 
Gerwig directed “Barbie” from a screenplay by Gerwig & Oscar nominee Noah Baumbach (“Marriage Story,” “The Squid and the Whale”), based on Barbie by Mattel.  The film’s producers are Oscar nominees David Heyman (“Once Upon a Time…in Hollywood,” “Marriage Story,” “Gravity”), Margot Robbie (“Birds of Prey,” “Promising Young Woman,” “I, Tonya”), Tom Ackerley (“Promising Young Woman,” “I, Tonya”) and Robbie Brenner (“Dallas Buyers Club”), with Gerwig, Baumbach, Ynon Kreiz, Richard Dickson, Michael Sharp, Josey McNamara, Courtenay Valenti, Toby Emmerich and Cate Adams serving as executive producers.
 
Gerwig’s creative team behind the camera included Oscar-nominated director of photography Rodrigo Prieto (“The Irishman,” “Silence,” “Brokeback Mountain”), Oscar-nominated production designer Sarah Greenwood (“Beauty and the Beast,” “Anna Karenina”), Oscar-winning costume designer Jacqueline Durran (“Little Women,” “Anna Karenina”), editor Nick Houy (“Little Women,” “Lady Bird”), visual effects supervisor Glen Pratt (“Paddington 2,” “Beauty and the Beast”) and music supervisor George Drakoulias (“White Noise,” “Marriage Story”), with a score by Oscar winners Mark Ronson and Andrew Wyatt (“A Star Is Born”), who also contributed to numerous songs on the film’s soundtrack.  The soundtrack includes an impressive roster of today’s hottest music artists, including Lizzo, Dua Lipa, Nicki Minaj & Ice Spice with Aqua, Charli XCX, KAROL G feat. Aldo Ranks, Tame Impala, Dominic Fike, HAIM, The Kid LAROI, Khalid, PinkPantheress, GAYLE, Ava Max, FIFTY FIFTY and more.
 
Warner Bros. Pictures Presents a Heyday Films Production, a LuckyChap Entertainment Production, an NB/GG Pictures Production, a Mattel Production, “Barbie.”  The film is distributed worldwide by Warner Bros. Pictures and was released in theaters nationwide on July 21, 2023 and internationally on July 19, 2023.
 
“Barbie” is rated PG-13 by the MPA for suggestive references and brief language.


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 29,000 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.

Friday, April 28, 2023

CHICKEN SOUP FOR THE SOUL ENTERTAINMENT ADDS 1,500 REDBOX KIOSKS AT DOLLAR GENERAL STORES

Capitalizing on the resurgence of blockbuster movies, partnership gives Dollar General customers fast access to the newest titles.

 

Total number of Redbox kiosks at Dollar General locations expected to surpass 5,000 by end of 2024.

 

DVD rentals are expected to significantly grow with an expanded theatrical slate of 39 major films this year, including Spider-Man: Across the Spider-Verse, Guardians of the Galaxy Vol.3, and Transformers: Rise of the Beasts

 

COS COB, Conn.– Redbox, a Chicken Soup for the Soul Entertainment Inc. (Nasdaq: CSSE) company – one of the largest providers of premium content to value-conscious consumers, today announced it signed an expanded partnership agreement with Dollar General Corporation (NYSE: DG) to add 1,500 Redbox kiosks over the next two years. This will bring the number of Redbox kiosks at Dollar General to over 5,000 locations by the end of 2024, giving customers faster access to the newest movies.

 

“Dollar General has been an incredibly important strategic partner for Redbox, as we both serve value-conscious customers,” said William J. Rouhana, Jr., chief executive officer of Chicken Soup for the Soul Entertainment. “As the economy continues to challenge and impact consumers, expanding Redbox’s kiosks nationwide with Dollar General will provide millions of Americans additional access to more affordable entertainment.”  

 

The Redbox kiosk expansion comes when theatrical releases are rapidly increasing. In 2023, over 39 major films are slated to be released, including the latest installments from major franchises such as Spider-Man: Across the Spider-Verse, Guardians of the Galaxy Vol.3, Fast X, Mission: Impossible – Dead Reckoning Part 1, Transformers: Rise of the Beasts, Indiana Jones and the Dial of Destiny, and more. These titles and many others will be available in Redbox kiosks shortly after their theatrical run.

 

 

Tuesday, August 30, 2022

Chicken Soup for the Soul Entertainment Completes Acquisition of Redbox Entertainment Inc.

Acquisition creates an entertainment company for value-conscious consumers across AVOD, FAST, and TVOD with over 40 million customer loyalty members

Revenue is expected to more than triple over the next year; increased scale and over $40 million in operating synergies support an accelerated path to positive free cash flow  

Adds over 11,000 additional movies and television shows to the company’s already robust 40,000-title streaming catalog, as well as Free Live TV platform with over 145 free ad-supported streaming television (FAST) channels and transactional video on demand (TVOD) platforms available on dozens of devices

Redbox’s 36,000 kiosks will expand the company’s touchpoints for advertisers beyond free streaming channels and provide new marketing capability to promote original movies  

Galen C. Smith appointed to the new role of executive vice chairman of Redbox and Chicken Soup for the Soul Entertainment, and entertainment industry veteran Jonathan Katz named president of Chicken Soup for the Soul Entertainment

COS COB, Conn. & OAKBROOK TERRACE, Ill.--(BUSINESS WIRE)--Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) today announced the company has completed the acquisition of Redbox Entertainment Inc. (NASDAQ: RDBX) – creating an entertainment content and distribution offering targeting value-conscious consumers. The combined companies now offer ad-supported video on demand (AVOD), over 145 free ad-supported streaming television (FAST) channels, transactional video on demand (TVOD), and a network of over 36,000 kiosks nationwide, all supported by original film and television production and distribution divisions. The company expects revenue to more than triple through this acquisition to approximately $500 million annually.

Today, the company also announced the appointment of two key media executives with deep knowledge of the entertainment and streaming space to drive its continued growth. Galen C. Smith, former chief executive officer of Redbox, has been appointed to the new role of executive vice chairman of Redbox and Chicken Soup for the Soul Entertainment. Smith will oversee the company’s future growth plans, including strategic acquisitions. Also announced today, Jonathan Katz has been named president of Chicken Soup for the Soul Entertainment. Katz previously held senior executive roles at Scripps Networks, Katz Networks, and Turner Broadcasting. In his new role, Katz will oversee the company’s operating businesses, including streaming services, Redbox kiosks, and original content studios. Smith and Katz will report to William J. Rouhana, Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment.

“I’ve been looking forward to the day Redbox would become part of the Chicken Soup for the Soul Entertainment family – and today is that day. The Redbox brand is a fixture in American entertainment and now joins our powerful portfolio of streaming brands, including Crackle, Popcornflix, and Chicken Soup for the Soul,” said William J. Rouhana, Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment. “This acquisition gives us immediate scale, growing our film and television library to over 51,000 assets, establishing a broad complement of AVOD, TVOD, and FAST channel services, reaching millions of viewers across dozens of platforms, and adding Redbox’s 36,000 kiosks nationwide, with a customer loyalty program that has over 40 million members. These collective assets create a fully formed streaming business for a new era of digital entertainment that we anticipate will accelerate the growth and profitability of our company well ahead of our original plans. The team at Redbox is incredible and will join an equally talented team across our Chicken Soup for the Soul Entertainment companies. I’m excited to welcome our new colleagues and look forward to sharing more about our plans for the future.”

Financially Compelling

Chicken Soup for the Soul Entertainment expects that the combined company will exit 2022 with a run rate exceeding $500 million of revenue and $100 - $150 million of Adjusted EBITDA and expects to deliver annual run rate cost synergies in excess of $40 million in 2023. The combined company also sees numerous opportunities to drive revenue synergies from its complementary assets, including expansion of ad inventory through distribution of its larger content library and production pipeline across AVOD and FAST channels, and increased access to the TVOD window for original film productions. Additionally, the Redbox kiosk network and loyalty program offer a new marketing channel to promote the company’s original content productions.

Transaction Details

Chicken Soup for the Soul Entertainment had already approved the transaction at the time of signing. Redbox shareholders approved the transaction on August 9. Existing Redbox shareholders will receive a fixed exchange ratio of 0.087 of a share of class A common stock of Chicken Soup for the Soul Entertainment per Redbox share. As previously announced, Chicken Soup for the Soul Entertainment stockholders will own approximately 76.5% of the combined company, and Redbox stockholders will own approximately 23.5% of the combined company, on a fully diluted basis.

As part of the transaction, Chicken Soup for the Soul Entertainment has assumed the obligations under Redbox’s outstanding private and public warrants including those that traded on the Nasdaq Global Market under the symbol “RDBXW.” The warrants replacing the former Redbox warrants will be issued on a one for one basis and entitle the holder to receive upon exercise shares of CSSE Class A Common Stock equal to the product of (A) the number of shares of Redbox Class A Common Stock that were subject to the holder’s Redbox warrants and (B) 0.087 (the “Exchange Ratio”), with a corresponding change to the exercise price of such warrant based on the Exchange Ratio. No fractional share will be issued upon warrant exercise. Accordingly, a holder will be required to surrender the equivalent of warrants to acquire 11.494 shares of Redbox Class A Common Stock in order to purchase one share of CSSE Class A Common Stock upon exercise of the warrants. The per-share exercise price for the warrants will be $132.18 per share. This is calculated by dividing the current $11.50 per-share exercise price of the former Redbox warrants by the Exchange Ratio. It is anticipated that the new public warrants will commence trading on the Nasdaq Global Market on or about Friday, August 12, 2022 under the symbol “CSSEL.”

 

About Redbox

Redbox Entertainment Inc. (pre-transaction symbol on 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 145 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.

 

Wednesday, May 18, 2022

Chicken Soup for the Soul Entertainment to Acquire Redbox, Creating Premier Independent Entertainment Company

Cos Cob, CT - Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE), one of the largest operators of advertising-supported video-on-demand (AVOD) streaming services, and Redbox Entertainment Inc. (Nasdaq: RDBX), a leading entertainment company, have entered into a definitive agreement under which Chicken Soup for the Soul Entertainment will acquire Redbox. 

 

The combination of Chicken Soup for the Soul Entertainment and Redbox will create a leading independent, integrated direct-to-consumer media platform delivering premium entertainment for value conscious consumers. The combined company will have increased scale across content production and distribution, with a massive content library, more than 38,000 kiosks nationwide, extensive digital capabilities in AVOD, TVOD, PVOD, and FAST, and access to millions of targeted customers, including nearly 40 million Redbox Perks members.

 

Together, the combined companies will have the industry’s premier, independent AVOD platforms, one of the fastest growing segments of the overall entertainment industry. According to a recent study by IAB, ad spending on connected TV platforms increased 57% from 2020 to 2021 and is expected to increase another 39% this year. 

 

“Today marks a transformative moment for Chicken Soup for the Soul Entertainment and an inflection point for the ad-supported streaming industry,” said William J. Rouhana Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment. “Our acquisition of Redbox will accelerate the scaling of our business as it combines complementary teams and services to create the streaming industry’s premier independent AVOD. Redbox has 40 million customers in its loyalty program and high-potential digital television assets including carriage of over 130 FAST digital channels on its Free Live TV platform, as well as a robust TVOD and PVOD platform. Together, we will build a fully developed AVOD and FAST streaming business: proven branded streaming services, formidable content and production capabilities, and a strong AVOD and FAST ad sales operation.”

 

“We believe that Chicken Soup for the Soul Entertainment is the ideal partner for Redbox. By joining forces, we will accelerate Redbox’s transition from a physical to high growth digital media company and be the only entertainment provider truly focused on value for consumers,” said Galen Smith, chief executive officer of Redbox. “This all-stock transaction provides Redbox stockholders with the opportunity to participate in the significant near- and long-term upside potential of a diversified and growing company with greater scale and resources. With our footprint of more than 38,000 kiosks, diverse content libraries and combined streaming platforms, we will be well positioned to deliver consumers a wealth of high-quality entertainment options.”

Rouhana continued, “More and more viewers are embracing ad-supported streaming offerings in a content environment characterized by cord-cutting and saturation of high-priced subscription services. Near term, these conditions are even more acute against a macro backdrop of rising inflation and economic uncertainty. With the combination of a large content library, digital AVOD and FAST channel capabilities, and an expanding global audience, we believe that we will be able to deliver more exciting premium entertainment for millions of value conscious viewers and drive further growth and value creation for our stockholders.”

 

About Redbox

Redbox Entertainment Inc. (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 130 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.

Monday, May 16, 2022

Chicken Soup for the Soul Entertainment to Acquire Redbox, Creating Premier Independent Entertainment Company

Combination creates leading independent, integrated direct-to-consumer media platform 

delivering premium entertainment for value conscious consumers

 

Forms streaming industry’s premier independent AVOD platforms

 

COS COB, CT –Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE), one of the largest operators of advertising-supported video-on-demand (AVOD) streaming services, and Redbox Entertainment Inc. (Nasdaq: RDBX), a leading entertainment company, have entered into a definitive agreement under which Chicken Soup for the Soul Entertainment will acquire Redbox. 

 

The combination of Chicken Soup for the Soul Entertainment and Redbox will create a leading independent, integrated direct-to-consumer media platform delivering premium entertainment for value conscious consumers. The combined company will have increased scale across content production and distribution, with a massive content library, more than 38,000 kiosks nationwide, extensive digital capabilities in AVOD, TVOD, PVOD, and FAST, and access to millions of targeted customers, including nearly 40 million Redbox Perks members.

 

Together, the combined companies will have the industry’s premier, independent AVOD platforms, one of the fastest growing segments of the overall entertainment industry. According to a recent study by IAB, ad spending on connected TV platforms increased 57% from 2020 to 2021 and is expected to increase another 39% this year. 

 

“Today marks a transformative moment for Chicken Soup for the Soul Entertainment and an inflection point for the ad-supported streaming industry,” said William J. Rouhana Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment. “Our acquisition of Redbox will accelerate the scaling of our business as it combines complementary teams and services to create the streaming industry’s premier independent AVOD. Redbox has 40 million customers in its loyalty program and high-potential digital television assets including carriage of over 130 FAST digital channels on its Free Live TV platform, as well as a robust TVOD and PVOD platform. Together, we will build a fully developed AVOD and FAST streaming business: proven branded streaming services, formidable content and production capabilities, and a strong AVOD and FAST ad sales operation.”

 

“We believe that Chicken Soup for the Soul Entertainment is the ideal partner for Redbox. By joining forces, we will accelerate Redbox’s transition from a physical to high growth digital media company and be the only entertainment provider truly focused on value for consumers,” said Galen Smith, chief executive officer of Redbox. “This all-stock transaction provides Redbox stockholders with the opportunity to participate in the significant near- and long-term upside potential of a diversified and growing company with greater scale and resources. With our footprint of more than 38,000 kiosks, diverse content libraries and combined streaming platforms, we will be well positioned to deliver consumers a wealth of high-quality entertainment options.”

 

Rouhana continued, “More and more viewers are embracing ad-supported streaming offerings in a content environment characterized by cord-cutting and saturation of high-priced subscription services. Near term, these conditions are even more acute against a macro backdrop of rising inflation and economic uncertainty. With the combination of a large content library, digital AVOD and FAST channel capabilities, and an expanding global audience, we believe that we will be able to deliver more exciting premium entertainment for millions of value conscious viewers and drive further growth and value creation for our stockholders.”

 

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