Chicken Soup for the Soul launches OTT network with Pivotshare acquisition | OTT | News | Rapid TV News
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Chicken Soup for the Soul Entertainment (CSS) plans to acquire Pivotshare; the move launches CSS Entertainment’s subscription video-on-demand business.

css 16 aug 2018Pivotshare is an SVOD company running a variety of channels in categories including music, sports, religion, arts and culture, lifestyle and family, 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.

“This accretive acquisition of Pivotshare launches us into the subscription VOD space, significantly accelerating our business plan,” noted William J. Rouhana, Jr, chairman and CEO at CSS. “This multi-channel online network comes with pre-existing content, much of which fits with the Chicken Soup for the Soul brand.”

“We are thrilled to become part of the Chicken Soup for the Soul Entertainment ecosystem,” added Adam Mosam, founder of Pivotshare. “CSS Entertainment is strategically capitalising on disruption in the entertainment industry, and Pivotshare will help accelerate the company’s growth and presence in the subscription-based VOD business while also bringing a top technology team to the company.”

Pivotshare is expected to generate approximately $1 million per year in cost savings for CSS, which is a 23% return on the investment annually,” the company said.