Companies will combine thousands of hours of
content to create FUEL TV branded Free Ad-Supported Streaming
Television (FAST) action sports vertical channels
Global leader in action sports content, FUEL TV
brings decades of expertise in surf, skate, snow, and bike
This deal marks the first of several joint
ventures Chicken Soup for the Soul Entertainment is planning for
2024
Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) today
announced it has formed a joint venture with FUEL TV, the global
leader in action-sports content, to create FUEL TV branded
Subscription Video on Demand (SVOD) and Free Ad-Supported Streaming
(FAST) channels. The companies will combine their respective
content catalogs, including Chicken Soup for the Soul
Entertainment-owned Subscription Video on Demand (SVOD) channels,
which will become FUEL TV SURF, and LiftTicket will become FUEL TV
SNOW. In addition, the venture will create two new channels, FUEL
TV SKATE and FUEL TV BIKE. These powerful new channels will create
a new standard in action-sports content available on major
streaming platforms to viewers across millions of screens of all
sizes and types.
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Chicken Soup for the Soul Entertainment
today announced a joint venture with FUEL TV for action
sports-focused streaming channels. (Graphic: Business Wire)
Under the terms of the deal, FUEL TV will run and operate the
channels. Chicken Soup for the Soul Entertainment divisions Screen
Media Ventures will contribute 1091’s library of action sports
titles, and Crackle Connex will sell ad inventory. The joint
venture expects to roll out the new FUEL TV branded channels in the
coming months.
Chicken Soup for the Soul Entertainment plans to expand its
joint venture efforts in 2024. These new business deals will drive
additional revenues for existing properties it owns and operates
utilizing the expertise of third-parties.
FUEL TV is well-known as the leader in the action-sports
category worldwide. Available in over 130 countries through more
than 80 different partnerships with the major broadcasting and
streaming (CTV, OTT) platforms, the company offers over 600 hours
of new programming every year, in addition to 250 hours of live
events and 350 hours of exclusive content. Chicken Soup for the
Soul Entertainment SVOD services Echoboom features essential action
sports titles across skateboarding and skiing, SurfnowTV features
the best in surf videos that feature the biggest names past and
present, and LiftTicketTV offers viewers the best in ski
videos.
“FUEL TV is the gold standard for action-sports content, and
they are the perfect counterparty for us to work with on this joint
venture,” said Elana Sofko, chief strategy officer of Chicken Soup
for the Soul Entertainment. “Their expertise, combined with our
robust content and advertising teams, will make this a powerful
offering.”
“We are delighted to join this venture, uniting two of the
biggest action sports libraries, and both companies’ prowess in the
media industry will allow us to consolidate the leadership in the
action sports space,” said Fernando Figueiredo, CEO of FUEL TV.
“Moreover, it will give Surf, Skate, Snow, and Bike a standalone
home for those core viewers that binge their sport for hours. For
20 years, FUEL TV action sports channel has gathered all these
sports and will keep doing it by being the home of hundreds of
hours of LIVE Events from across the globe.”
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.
About FUEL TV Global Founded in 2003, FUEL TV is recognized as
the global home of action sports. For 20 years FUEL TV has
distinguished itself with award-winning programming that inspires,
entertains, and enlightens audiences around the world with its
5.000-hour library. Available in more than 130 countries across
more than 500 million devices, FUEL TV can be found in Pay TV,
FAST, and SVOD offers. FUEL TV is the only channel focused
exclusively on the sports of Surf, Skate, Snow, BMX, MTB, Wake and
the music, art and lifestyle that surrounds them. Headquartered in
Lisbon, Portugal, FUEL TV has offices in Los Angeles, Miami, and
São Paulo FUEL TV continues to innovate and evolve with a
relentless focus on Action Sports.
Forward-Looking Statements and Available Information
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240129904955/en/
Chicken Soup for the Soul Entertainment
(Media) Peter Binazeski pbinazeski@chickensoupforthesoul.com
(Investor Relations) Zaia Lawandow
zlawandow@chickensoupforthesoul.com
FUEL TV (Corporate Communications) Inês D’Alte ines@fuel.tv
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