In the latest pre-market trading update, the preferred shares of Chicken Soup for Soul Entertainment Inc. (NASDAQ: CSSEL) experienced a significant increase of 25% and reached $0.025. During the previous session, CSSEL stock closed at $0.02, showing a rise of 4.71% or $0.0009. This surge in value was driven by the recent announcement of the dividend payment date for the preferred stock.
When Will CSSEL Pay Its Dividends?
Chicken Soup for the Soul Entertainment Inc. (CSSE, CSSEL) has declared a regular monthly dividend of $0.2031 per share for its 9.75% Series A Cumulative Redeemable Perpetual Preferred Stock, to be paid in June 2023. The company announced that the dividend will be paid in cash and is expected to be payable on or around June 15, 2023. Shareholders of record as of May 31, 2023, will be eligible to receive the dividend. The announcement of Chicken Soup for Soul Entertainment’s dividend payment reflects the company’s commitment to providing value to its shareholders.
Chicken Soup for the Soul Entertainment Inc. (CSSE) is making waves in the streaming industry with its strategic partnerships and impressive financial performance.
Expanding Global Reach And Content Library
CSSE has recently signed a global content agreement with TaTaTu, an entertainment and social media platform based in Rome. This partnership allows TaTaTu to leverage CSSE’s extensive catalog of movies, television series, and documentaries, expanding CSSE’s global reach. With the launch of the TaTaTu app for iOS and Android devices, users will have access to CSSE-owned content, enhancing CSSE’s brand exposure and revenue potential.
Additionally, CSSE’s collaboration with AMC Networks brings 12 Free Ad-Supported Streaming Television (FAST) channels to its Redbox app. The inclusion of popular shows like The Walking Dead Universe and Portlandia offers viewers round-the-clock entertainment. CSSE’s Redbox Free Live TV service is rapidly expanding, with plans to surpass 200 channels by early summer. This growth trajectory further positions CSSE as a key player in the streaming space.
Strong Financial Performance
CSSE’s financial results for the first quarter of 2023 demonstrate its robust performance. Net revenue increased significantly to $110 million, a remarkable jump from $29 million in the year-ago period. This substantial growth showcases CSSE’s ability to monetize its content effectively and capitalize on the rising demand for streaming services.
Adjusted EBITDA also witnessed a substantial improvement, reaching $20.1 million compared to $3.7 million in the same period last year. This indicates CSSE’s effective cost management and operational efficiency. While a net loss of $58.6 million was reported, it is worth noting that this includes non-operating expenses and preferred dividends. Excluding these factors, the net loss before income taxes and preferred dividends was $54.5 million, indicating a narrowing loss compared to the previous year.
Expansion Strategies And Partnerships
CSSE’s recent partnerships with Amazon Publisher Services and other key players highlight its focus on growth and innovation. The integration of next-generation advertising technologies, such as shoppable ads and Server Side Ad Insertion (SSAI), into CSSE’s apps enhances its revenue potential by providing a more engaging and personalized ad experience for users.
Furthermore, CSSE’s partnerships with AMC Networks, Fremantle, Revry, and Love Stories TV for FAST content demonstrate its commitment to delivering diverse and popular channels to its viewers. With flagship shows like The Walking Dead and Supermarket Sweep, CSSE’s Redbox Free Live TV app continues to attract a growing audience. These strategic collaborations solidify CSSE’s position as a competitive player in the streaming industry.
Promising Outlook And Future Prospects
CSSE’s recent achievements, combined with its strong financial performance and expanding content library, bode well for its future prospects. The company’s consistent growth in TVOD revenue indicates a strong demand for its content, offering potential revenue streams beyond traditional subscription models.
CSSE’s plans to reach 200 channels by summer, as well as its intention to scale even further, underscore its ambitious growth strategy. The success of the Indian-language series, Rana Naidu, and its subsequent greenlight for a second season on Netflix India further solidify CSSE’s ability to produce popular and globally recognized content.
