Chicken Soup for the Soul, owner operator of ad-supported VOD platforms Crackle, Crackle Plus and Popcornflix, among others, reported a 50% increase in revenue for the third-quarter (ended Sept. 30) to $29.1 million, compared with revenue of $19.4 million during the previous-year period. The tally also marked a 31.6% improvement over the second quarter.
Net loss from operations increased more than 28% to $16.7 million, compared with a loss of $13 million a year earlier.
In the quarter, the distributor announced the initial launch of a branded Chicken Soup for the Soul ad-supported streaming video platform in select international markets.
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“We are seeing momentum in our AVOD networks, highlighted by viewership growth at Crackle and strong growth at Popcornflix since our September relaunch,” CEO William Rouhana said in a statement.
Rouhana said the company continues to focus AVOD network distribution, in addition to expanding original, exclusive content and backend streaming tech assets.
“With the initial launch of our Chicken Soup for the Soul streaming service, as well overall ad impression growth at Crackle Plus, consolidation of our television production activities, Screen Media Ventures’ growing lineup of acquired films, and our recent international partnership and acquisition activity, we are poised to accelerate execution of our strategy into 2022,” Rouhana said.