COS COB, Conn.—Chicken Soup for the Soul Entertainment has announced the formation of a joint venture with Fuel TV to create Fuel TV branded Subscription Video on Demand (SVOD) and Free Ad-Supported Streaming (FAST) channels.
As part of the deal, the companies will combine their respective content catalogs, including Chicken Soup for the Soul Entertainment-owned Subscription Video on Demand (SVOD) channels, which will become Fuel TV Surf, and LiftTicket will become Fuel TV Snow.
In addition, the venture will create two new channels, Fuel TV Skate and Fuel TV Bike. These powerful new channels will create a new standard in action-sports content available on major streaming platforms to viewers across millions of screens of all sizes and types.
Under the terms of the deal, Fuel TV will run and operate the channels. Chicken Soup for the Soul Entertainment divisions Screen Media Ventures will contribute 1091’s library of action sports titles, and Crackle Connex will sell ad inventory. The joint venture expects to roll out the new Fuel TV branded channels in the coming months.
“Fuel TV is the gold standard for action-sports content, and they are the perfect counterparty for us to work with on this joint venture,” said Elana Sofko, chief strategy officer of Chicken Soup for the Soul Entertainment. “Their expertise, combined with our robust content and advertising teams, will make this a powerful offering.”
“We are delighted to join this venture, uniting two of the biggest action sports libraries, and both companies’ prowess in the media industry will allow us to consolidate the leadership in the action sports space,” said Fernando Figueiredo, CEO of Fuel TV. “Moreover, it will give Surf, Skate, Snow, and Bike a standalone home for those core viewers that binge their sport for hours. For 20 years, Fuel TV action sports channel has gathered all these sports and will keep doing it by being the home of hundreds of hours of LIVE Events from across the globe.”
The agreement is part of a plan by Chicken Soup for the Soul Entertainment to expand its joint venture efforts in 2024. These new business deals will drive additional revenues for existing properties it owns and operates utilizing the expertise of third-parties, the company said.
Fuel TV is well-known as the leader in the action-sports category worldwide. Available in over 130 countries through more than 80 different partnerships with the major broadcasting and streaming (CTV, OTT) platforms, the company offers over 600 hours of new programming every year, in addition to 250 hours of live events and 350 hours of exclusive content.
