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The corporations will combine thousands of hours of content to create vertical action sports channels under the FUEL TV brand.
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
COS COB, Conn. , Jan. 29, 2024–(BUSINESS WIRE)–Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) today announced the formation of a joint venture with FUEL TV, the global leader in action sports content, to create subscription video-on-demand (SVOD) and ad-supported streaming (FAST) channels for the FUEL TV brand. The corporations will combine their respective content catalogs, adding subscription video-on-demand owned by Chicken Soup for Soul Entertainment (SVOD), which FUEL TV SURF, and LiftTicket FUEL TV SNOW. In addition, the company will create two new channels, FUEL TV SKATE and FUEL TV BIKE. These powerful new channels will establish popular new content for action sports. Be available on major streaming platforms for audiences on millions of screens of all sizes and types.
Under the terms of the agreement, FUEL TV will manage and operate the channels. Chicken Soup for the Soul Entertainment divisions, Screen Media Ventures will contribute to 1091’s library of action sports titles, and Crackle Connex will sell ad inventory. The joint venture plans to launch 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 ad deals will generate more revenue for existing homes that own and operate the third-party experience.
FUEL TV is identified as the global leader in the action sports category. Available in more than 130 countries through more than 80 partnerships with major streaming and streaming platforms (CTV, OTT), the company offers more than six hundred hours of new programming. each year, plus 250 hours of live events and 350 hours of exclusive content. Chicken Soup for the Soul Entertainment Echoboom SVOD facilities will offer must-watch action sports titles such as skateboarding and skiing, SurfnowTV showcases the best of surfing. videos featuring today’s biggest names, and LiftTicketTV provides the audience with the most productive skiing videos.
“FUEL TV is the gold brand for action sports content, and they are the best counterpart we can work with in this joint venture,” said Elana Sofko, Chicken Soup’s chief strategy officer for Soul Entertainment. “Their experience, combined with our strong content and advertising teams will make this a tough 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 EntertainmentChicken 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 GlobalFounded 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 Information Available
This press release includes forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are statements that are not past facts. These statements are based on assumptions, whether or not known in this press release, as well as management’s existing expectations and are not predictions of actual performance. These assumptions involve a number of known and unknown hazards and uncertainties, adding, among others, similar hazards to our core strategy, operating source of revenue and margin, seasonality, liquidity, aggregation of cash flows from operations, available budget and access. to financing sources, money flows, income, net profit, profitability capacity, share value volatility, long-term regulatory adjustments, value adjustments. Matrix ability to download and maintain market acceptance of our content streaming facilities and other content offerings, ability to recruit and retain executives, key. workers or directors, ability to protect our intellectual property, ability to complete and integrate long-term strategic acquisitions into our existing operations, ability to manage growth, ability to pay dividends and our debt, as well as evolving regulatory or other hazards operational hazards, and the Hazards presented by the evolution of general market situations that affect the demand for our facilities. For a more complete description of those and other dangers and uncertainties, see Item 1A (Risk Factors) of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the SEC on March 31, 2023. . as amended. If any of those dangers materialize or our assumptions prove incorrect, actual effects may differ materially from the effects implied by the forward-looking statements contained in this press release.
See the businesswire. com edition: https://www. businesswire. com/news/home/20240129904955/en/
Contacts
Chicken Soup for 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