Chicken Soup for the Soul Entertainment to Distribute Channel 1 Artificial Intelligence (AI) Streaming News Channel Across Over 140 Touchpoints
Company will also get access to Channel 1’s next-generation AI technology to localize a deep catalog of over 10,000 movies and TV series into any language
Channel 1’s newsroom is powered by AI, and will initially be available as a Free Ad-Supported Streaming Television (FAST) channel, followed by an app to launch next year providing advanced news personalization
COS COB, Conn., October 26, 2023 – Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) today announced it will be the first distribution point for the Artificial Intelligence (AI) streaming news company Channel 1. Through its vast network of over 140 touchpoints, including Redbox and Crackle apps on Roku, Amazon Fire TV, Android TV, and Samsung, the company will provide immediate scale for Channel 1, giving it access to millions of viewers. The channel will initially launch as a Free Ad-Supported Streaming Television (FAST) channel in February, with a dedicated Channel 1 app to launch a few months later, providing advanced news personalization.
In addition, Channel 1 will license to Chicken Soup for the Soul Entertainment next-generation AI, and workflow tools, which will unlock significant value to its over 10,000 titles of movies and TV series.
Channel 1 is a personalized news network that learns viewers’ interests and delivers relevant stories from across the globe. Its programming features a combination of real and generated imagery, videos, and news anchors.
“Channel 1 is truly the future of streaming news, and we are delighted to be working with them on distribution for their service,” said William J. Rouhana, Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment. “Their AI is some of the most sophisticated and advanced technology we’ve seen. Their localization technology will unlock significant value in our deep catalog of over 10,000 movies and TV series, enabling us to easily translate them into any language at virtually no additional cost.”
“Chicken Soup for the Soul Entertainment’s distribution footprint is one of the largest in streaming, which will provide us with immediate scale,” said Scott Zabielski, chief content officer for Channel 1. “Our AI technology will also give them an easy, inexpensive way to unlock massive value in their content library by localizing content into any language. We’re delighted to be working with them on this and other projects in the future.”
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.
About Channel 1
Channel 1 is developing the next-generation way viewers consume and interact with news. Using the latest Artificial Intelligence (AI), the company’s propriety technology will seamlessly source news worldwide and deliver a hyper-personal viewing experience. For more details, visit channel1.ai.
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, as amended. 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.
Chicken Soup for the Soul Entertainment
Chicken Soup for the Soul Entertainment