Redbox Enters Into Multiyear Distribution Deal for Lionsgate to Distribute Redbox Entertainment Originals and License AVOD Content
Redbox continues to scale its original movie slate and expects to release 36 titles a year
Two companies also partnering on agreement to distribute Lionsgate library titles on Redbox's AVOD and FAST streaming services
Global content leader Lionsgate (NYSE:LGF, LGF.B))) and Redbox, a leading entertainment company, today announced a multiyear distribution deal under which Lionsgate will handle distribution of Redbox Entertainment titles across home entertainment windows in addition to subscription video on demand (SVOD) licensing for select titles under the Redbox Entertainment brand.
Leveraging nearly 20 years of movie performance data, Redbox Entertainment is uniquely positioned to identify titles and talent that will resonate with consumers. Recently released Redbox Entertainment films include CAPONE (Tom Hardy), SHADOW IN THE CLOUD (Chloë Grace Moretz and Nick Robinson) and SAS: RED NOTICE (Sam Heughan and Ruby Rose). Redbox Entertainment expects to release 36 original movies annually including upcoming releases THE LAST SON (Colson Baker (a.k.a. musician Machine Gun Kelly) and Heather Graham), BANDIT (Josh Duhamel and Mel Gibson) and MUTI (Morgan Freeman and Cole Hauser). Redbox Entertainment titles are available across all major entertainment retailers ensuring these films are enjoyed by the broadest audience possible.
"Redbox has a large slate of films coming in 2022 and beyond, and we're excited to work with Lionsgate to identify those that are a great fit for their distribution model," said Galen Smith, CEO of Redbox. "Ron Schwartz and his team have been terrific partners over the years, and we are excited to extend our relationship to tap into their world class distribution prowess to create value for both companies."
The two companies are also partnering on an agreement to license films and television series from Lionsgate's 17,000-title library to Redbox‘s fast-growing ad-supported video on demand (AVOD) and Free Ad Supported Television (FAST) services. Redbox has aggressively scaled its AVOD streaming service to include thousands of popular films and television series in the past year while also growing to more than 100 FAST Channels available on its streaming app, with plans to add more in the coming months.
"Lionsgate's longstanding partnership with Redbox has created significant value for both our companies," said Ron Schwartz, Lionsgate President of Worldwide Distribution, Motion Picture Group. "That collaboration has evolved into a multifaceted distribution relationship across home entertainment, SVOD and AVOD platforms that allows us to continue to diversify our content offering to our consumers."
About Redbox
Redbox is America's leading destination for affordable new-release movies and entertainment with more ways to watch than any other home entertainment provider. Redbox delivers value and convenience through unparalleled choice across content, platforms, rental and purchase options, and price points. The company recently announced a definitive agreement to combine with Seaport Global Acquisition Corp. (Nasdaq: "SGAM," "SGAMU," and "SGAMW"), a publicly traded special purpose acquisition company. The transaction, which will result in Redbox becoming a publicly traded company, is expected to accelerate Redbox's ongoing transformation to offer customers and partners a multi-product experience across physical and digital channels. The company's expanding streaming offering includes digital rental and purchase as well as free live TV and free On Demand content and complements Redbox's nationwide footprint of entertainment kiosks, conveniently located where consumers already shop. Redbox Entertainment, a new content acquisition and production division, has further transformed Redbox into a multi-channel content provider. For more information, visit redbox.com.
About Lionsgate
Combining the STARZ premium global subscription platform with world-class motion picture and television studio operations, Lionsgate (NYSE:LGF, LGF.B))) brings a unique and varied portfolio of entertainment to consumers around the world. Its film, television, subscription and location-based entertainment businesses are backed by a 17,000-title library and the largest collection of film and television franchises in the independent media space. A digital age company driven by its entrepreneurial culture and commitment to innovation, the Lionsgate brand is synonymous with bold, original, relatable entertainment for the audiences it serves worldwide.
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