Chicken Soup for the Soul Entertainment Signs Definitive Agreement to Acquire Pivotshare, Inc., Launching Company’s Subscription Video-On-Demand Business

Aug 17, 2018


 

Chicken Soup for the Soul Entertainment, Inc. (CSS Entertainment), a growing media company building online video-on-demand (VOD) networks that provides positive and entertaining video content for all screens, announced the signing of a definitive agreement to acquire Pivotshare, Inc. (Pivotshare), a global subscription-based video-on-demand service (SVOD) offering channels online across a variety of categories including music, sports, religion, arts and culture, lifestyle and family, launching CSS Entertainment’s subscription video-on-demand business.

Pivotshare is comprised of a series of subscription-based VOD channels online with 28,000 hours of programming. The network generates approximately $2.5 million in annual revenue and has approximately 25,000 paid subscriptions with an average monthly revenue of $9 per subscription.

 

The company primarily used perpetual preferred stock to complete this acquisition.