Dade Hayes Finance EditorChicken Soup for the Soul Entertainment, owner of streaming service Crackle, surged to a new record on news of a co-production venture with BrandStar.Shares in CSSE closed at a new high mark of $16.20, up more than 8%.
They have nearly doubled to this point in 2020 as investors have embraced into the upside of ad-supported streaming as a safe harbor during and after COVID-19.Florida-based BrandStar is primarily a brand integration firm, working with more than 500 clients to weave them into TV and digital series, among other venues.
The company also has produced original series airing on Lifetime, Bloomberg TV and Fox Business. The deal “significantly expands the sales capabilities for Chicken Soup for the Soul.
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