Chicken Soup For The Soul Entertainment Posts Mixed Q1 Results; CEO Says “Odds Are” Sony Will Exit 49% Crackle Stake
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deadline.comBy Dade Hayes Finance Editor 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 but also advertising uncertainty.
The company reported an all-time high number of visits to Crackle and Popcornflix in March, though it did not provide any numbers.
The company’s revenue and net loss in the quarter and revenue fell below the consensus estimate of Wall Street analysts. The net loss of 95 cents compared with a loss of 28 cents in the same quarter a year ago, with revenue of $14.1 million rising from $2.5 million.
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