Company Will Be Exclusive Provider of Non-Israeli Content for VOD to Israel’s Top Broadcaster’s Planned Service
COS COB, Conn., Aug. 11, 2021 (GLOBE NEWSWIRE) -- 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 signing of its first international VOD agreement with Keshet Broadcasting, the largest broadcaster in Israel.
Keshet plans to launch a combined AVOD/SVOD service offering in Israel exhibiting content from Chicken Soup for the Soul Entertainment’s extensive library. Chicken Soup for the Soul Entertainment is the exclusive provider of AVOD content to Keshet outside of Israel.
“Keshet is the perfect partner for our first international VOD venture. We offer a vast library of content that networks cannot easily find elsewhere; we offer strong technical and operational expertise; and we also have proven brands, which we expect to deploy in international markets in the future,” said William J. Rouhana Jr, CEO of Chicken Soup for the Soul Entertainment. “Keshet has significant market share with extensive viewership to market our content, and they also have a highly-skilled sales force in place that will be able to effectively sell ads. They fit the exact profile of the broadcasting partners that we hope to be partnering with around the world.”
“We have watched Chicken Soup for the Soul Entertainment systematically build its AVOD service in the United States, and we reached out to them as we are planning our VOD service. Their extensive film and television library and expertise in the VOD space made them the perfect partner for us,” said Avi Nir, CEO of Keshet Broadcasting. “We look forward to building a major VOD service in Israel with Chicken Soup for the Soul Entertainment’s help.”
The service is scheduled to roll out during 2022. Ladenburg Thalmann & Co. Inc. acted as advisor to Chicken Soup for the Soul Entertainment, Inc.
ABOUT CHICKEN SOUP FOR THE SOUL ENTERTAINMENT, INC.
Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) operates streaming video-on-demand networks (VOD). The company owns Crackle Plus, 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, Chicken Soup for the Soul Unscripted, APlus.com and Halcyon Television. 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.
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 the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 31, 2021, and for further information regarding our recent acquisition of the Sonar library and related assets, please see our Current Reports on Form 8-K, as amended, filed with the SEC on May 27, 2021 and July 1, 2021. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements 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.
Source: Chicken Soup for the Soul Entertainment, Inc.