Billing it as an industry first, Chicken Soup for the Soul Entertainment has launched a reward program across its entire streaming ecosystem in partnership with Italy-based social media and entertainment app TaTaTu.
Viewers signing up for the program on Crackle, Redbox or Chicken Soup’s eponymous AVOD service, along with hundreds of FAST channels, will earn coins. The coins can then be used to bid on prizes and buy products.
The reward program uses TTU Coins, which the company said in a press release are different from cryptocurrency. TaTaTu, which was founded in 2020 by film producer Andrea Iervolino, set a global content deal with Chicken Soup earlier this month.
The program launch comes as Chicken Soup for the Soul continues to regroup in the wake of swallowing Redbox in 2022 in a $375 million deal. Like others in its peer group, the company’s stock has taken a beating because of its exposure to streaming, which Wall Street has cooled on of late. Shares in Chicken Soup for the Soul have inched up 1% so far in Tuesday trading, but remain less than one-third of their level at the start of 2023. The stock plunged 40% to an all-time low earlier this spring on news of a capital raise and losses in the fourth quarter.
Last week, the company reported wider losses in the first quarter compared with the same period in 2022, but also surge in revenue as studio movies started returning to Redbox’s 34,000 kiosks.
In announcing the rewards program, CEO Bill Rouhana said it will be a differentiator for the company as it looks to further boost its appeal with value-oriented consumers.
“In an era where others are raising the prices of streaming services, we are finding ways to reward viewers for watching our great content,” Rouhana said. “This collaboration is also an opportunity to enhance the entertainment experience and drive engagement on the TaTaTu platform.”
Iervolino said the collaboration represents “a major step forward for TaTaTu as we continue to build a strong ecosystem of partners that share our vision for the future of entertainment.”