Chicken Soup for the Soul Entertainment, which runs ad-supported streaming networks like Crackle, reported a mixed bag of first-quarter results, with record viewership during the onset of COVID-19 …
Related StoryOn the subject of Crackle, CEO Bill Rouhana said “odds are” that Sony will not retain its 49% Crackle stake, though he told Wall Street analysts during a conference call with Wall Street analysts that he was only “speculating.” The window for Sony to decide whether to keep the stake or convert it into preferred stock or common shares in starts May 15 and runs through November.
Sony bought Crackle in 2006 when it was known as Grouper, an early streaming video service. After operating it for more than a decade, it sold majority control to CSSE in May 2019. The deal made CSSE one of the top ad-supported video on demand [Rouhana said the road map for CSSE regardless of the decision centers on “having to rely less on Sony” in terms of programming.
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