COS COB, Conn. & ROME--(BUSINESS WIRE)--Chicken Soup for the Soul Entertainment Inc. (Nasdaq: CSSE), one of the largest providers of premium content to value-conscious consumers, today announced it has signed a global content agreement with Rome-based entertainment and social media platform TaTaTu (ALTTU.PA). TaTaTu will launch its service via the unique TaTaTu app available for iOS and Android devices using Chicken Soup for the Soul Entertainment-owned movies, television series, and documentaries.
TaTaTu is the first platform to reward users with coins for social media activities and viewing content. Users can earn coins by watching movies and TV series for free, posting videos and photos, and earn even more TTU Coins when someone likes, comments, views, chats, or shares a post or when users invite a friend. The coins can then be used to bid on auctions for products or experiences – or exchanged for e-commerce products.
“Andrea and his team at TaTaTu have developed and launched the next generation of social media platforms combining streaming media and engagement,” said William J. Rouhana., Jr., chairman & chief executive officer of Chicken Soup for the Soul Entertainment. “Our content will allow them to accelerate their entry into new international territories. This agreement is an exciting first step in our relationship.”
“Creating value through the time spent by connected users on TaTaTu has always been our main goal because the community is the driving force behind everything,” said Andrea Iervolino, CEO and Founder of TaTaTu S.p.A.. “The agreement with Chicken Soup is part of this strategy and we are pleased to have found a partner who wanted to share our vision by providing us with more than 3,000 interesting and engaging films. Our hope is to continue working together for a long time and to continue distributing more and more content on TaTaTu.”
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 31,000 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.
TaTaTu is the first social media and entertainment app to reward users for the value they help generate by spending time on the platform. Users receive TTU Coins for viewing content and social media interactions. They can post photos and videos and earn even more TTU Coins when someone likes, comments, views, or shares a post or when users invite a friend. Rewards can be redeemed by bidding at auctions for the chance to win exclusive products and experiences, on TaTaTu’s e-commerce site, and soon nearby at selected locations through affiliated merchants. TaTaTu cares about its users, not only by rewarding them, but also by offering them direct or indirect access to original content with an important focus on culture, inclusion, gender equality and sustainability, thereby enhancing social media engagement and fostering social and environmental awareness. Tatatu S.p.A. was founded in 2020 by renowned film producer Andrea Iervolino. Facebook, LinkedIn, Twitter, Instagram
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. 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. Information regarding the acquisition of Redbox and related transactions is qualified by reference to the Company’s Current Reports on Form 8-K filed with the SEC on May 11, 2022 as amended May 12, 2022, June 6, 2022, August 12, 2022, November 14, 2022 and thereafter from time to time, and all exhibits filed with respect to such reports. The forward-looking statements contained in this press release 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.