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More new movies continue to be added to the Redbox booth, including Creed III, Shazam!wrath of the gods and Marvel’s Ant-Man and the Wasp: Quantum Fever
COS COB, Connecticut, May 22, 2023–(Business Wire) — Chicken Soup for the Soul Entertainment, Inc. (NASDAQ: CSSE ) announced today that Redbox’s transactional video-on-demand (TVOD) service had the highest revenue week in company history.Premium Video On Demand (PVOD) and Premium Electronic Sales (PEST) Debuts of Hit Movie super mario bros movie Exceeds the latest record published by PEST Avatar: The Way of Water.
Newly released movies continue to appear in the Redbox kiosks.Consumers can rent three highly anticipated movies this week – MGM tenet three, Warner Bros. ‘ Shazam!wrath of the gods and Marvel’s Ant-Man and the Wasp: Quantum Fever. Paramount’s next week Dungeons and Dragons: Honor Among Thieves and Sony Pictures’ 65 will debut. These films are among the many that will premiere in a row in the coming months.
“It’s clear that there is strong, pent-up demand from moviegoers for new blockbuster releases, something we’ve long anticipated,” said Chicken Soup CEO William J. Rouhana Jr. .) explain. “Starting this week, we’ll have major releases coming to our kiosks every week through the end of the year, as well as premium window titles through our Redbox TVOD service. More movies means more rentals and more more income.”
About Entertainment Chicken Soup for the Soul
Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) provides premium content for value-conscious consumers. The company is one of the largest ad-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 and a transactional video-on-demand (TVOD) service, as well as approximately 31,000 kiosks across the United States of Network America for DVD rentals. To provide viewers with original and exclusive content, the company creates, acquires and distributes films and television series for Soul TV Group subsidiaries through its Screen Media and Chicken Soup. Chicken Soup for the Soul Entertainment is a subsidiary of Chicken Soup for the Soul, LLC, which publishes the renowned book series and produces ultra-premium pet food under the Chicken Soup for the Soul brand.
Forward-Looking Statements and Available Information
This press release contains 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 indicated in this press release) and management’s current expectations and are not predictions of actual performance. Such assumptions involve a number of known and unknown risks and uncertainties, including, but not limited to, those related to our core strategy, operating income and margins, seasonality, liquidity (including cash flow from operations), availability of funds and access to sources of financing, free cash flow, revenue, net income, profitability, share price volatility, future regulatory changes, price changes, ability to achieve and maintain market acceptance of our content streaming services and other content offerings, recruitment and retention the ability of officers, key employees or directors, the ability to protect our intellectual property, the ability to complete and integrate future strategic acquisitions into our existing business, the ability to manage growth, the ability to pay dividends and debt obligations, and changing regulations or other operational risks, as well as through changes in general market conditions affecting the demand for our services. For a more complete description of these and other risks and uncertainties, please see Part 1A of the company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission on March 31, 2023 item (risk factor). Should any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from those implied by the forward-looking statements contained in this press release. Information regarding the acquisition of Redbox and related transactions is referenced in the company’s current report on Form 8-K filed with the Securities and Exchange Commission on May 11, 2022, and on May 12, 2022, June 6, 2022, and Amended on August 12, November 14, 2022 and from time to time thereafter, and all exhibits relating to such reports. The forward-looking statements contained in this press release speak only as of the date of this press release, and the company specifically disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any changes in the company’s expectations Any change in events, conditions or circumstances on which this or any statement is based.
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contact person
(according to)
Peter Binazzeski
Chicken Soup for the Soul
pbinazeski@chickensoupforthesoul.com
(Investor Relations)
Zaya Ravando
Chicken Soup for the Soul
zlawandow@chickensoupforthesoul.com
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