Philippe Guelton: Last News

Todd Spangler NY Digital Editor Redbox’s newest addition to its famous DVD kiosks: viral TikTok videos. Redbox, looking for a new way to turn heads and generate incremental revenue, signed a deal with short-form video platform TikTok, which is owned by China’s ByteDance. Under the pact, TikTok will provide Redbox with “top content” curated from the app, which will be featured on more than 3,000 video screens on Redbox kiosks across the U.S. In addition, brands will have the opportunity to buy advertising that runs alongside the TikTok content. Redbox — founded in 2002, well before the video-streaming revolution — was acquired by Chicken Soup for the Soul Entertainment last year in an all-stock deal valued at about $370 million. The Redbox network currently comprises approximately 31,000 kiosks across the U.S.

As the free, ad-supported streaming (FAST) sector continues to develop, a new trade group has been formed by 10 companies looking for parity with major media and tech companies.

Chicken Soup for the Soul Entertainment, which earlier this month closed its $375 million acquisition of Redbox, has set the combined company’s new senior management roster.