COS COB, Conn.--(BUSINESS WIRE)--Chicken Soup for the Soul today announced that it has formed Chicken Soup for the Soul Entertainment, Inc. to produce, distribute and license video content—television programming, online video content and motion pictures—using the famous “Chicken Soup for the Soul” brand. Chicken Soup for the Soul Productions, LLC and certain affiliates have contributed all their video content assets to Chicken Soup for the Soul Entertainment in exchange for a majority stake in Chicken Soup for the Soul Entertainment.
“We plan to utilize the “Chicken Soup for the Soul” brand, together with our management’s industry experience and expertise, to generate revenue through four core categories of video content, while minimizing and diversifying our production costs and risks,” said Bill Rouhana, executive chairman of Chicken Soup for the Soul Entertainment. “These four core categories are:
- Sponsored television and cable programming, in which third parties make upfront sponsorship payments to us to produce high quality programming, and we place the programming on television and cable channels;
- Online video content, in which third parties make upfront sponsorship payments to us to produce short-form, brand-based programming for exhibition on online media platforms, such as Hulu, Vimeo, YouTube, Yahoo, Netflix, Amazon, as well as online platforms owned by television and cable networks, such as OWN, A&E, Discovery and others including our own;
- Network programming, in which a network pays us upfront licensing fees for programming to broadcast on the network’s television and cable channels; and
- Motion pictures, in which producers and distributors pay us upfront licensing fees and a share of the profits, if any, for the right to utilize the “Chicken Soup for the Soul” brand and related proprietary content in a major motion picture.”
“We intend to grow our business organically and strategically, including acquisitions of media production and distribution companies with operations in North America, Europe and Asia, to capitalize on industry growth and acquisition opportunities,” said Scott Seaton, vice chairman of Chicken Soup for the Soul Entertainment, who will oversee strategy and acquisitions for the company.
ABOUT CHICKEN SOUP FOR THE SOUL
Chicken Soup for the Soul, the world’s favorite and most recognized storyteller, publishes the famous Chicken Soup for the Soul book series. With well over 100 million books sold to date in the U.S. and Canada alone, more than 250 titles, and translations into more than 40 languages, “chicken soup for the soul” is one of the world’s best-known phrases and is regularly referenced in pop culture. Today, 23 years after it first began sharing happiness, inspiration and hope through its books, this socially conscious company continues to publish a new title a month, but has also evolved beyond the bookstore with super premium pet food, television shows and movies, and a variety of other digital content and licensed products, all inspired by stories, as it continues “changing the world one story at a time®.”
