Redbox’s newest addition to its famous DVD kiosks: viral TikTok videos. Redbox, looking for a new way to turn heads and generate incremental revenue, signed a deal with short-form video platf…
Redbox, looking for a new way to turn heads and generate incremental revenue, signed a deal with short-form video platform TikTok, which is owned by China’s ByteDance. Under the pact, TikTok will provide Redbox with “top content” curated from the app, which will be featured on more than 3,000 video screens on Redbox kiosks across the U.S. In addition, brands will have the opportunity to buy advertising that runs alongside the TikTok content.
in an all-stock deal valued at about $370 million. The Redbox network currently comprises approximately 31,000 kiosks across the U.S. “This new partnership provides advertisers a unique opportunity to reach new audiences and drive engagement,” said Philippe Guelton, chief revenue officer of Crackle Connex, which is a division of CSSE. “Our Redbox kiosks are in high-traffic locations where millions of people frequently shop, such as grocery stores or value retailers. We look forward to working with TikTok on expanding this partnership as our [digital out-of-home] network expands.
“People come to TikTok to experience the entertainment, joy, and creativity of our community and we are excited to expand that experience to Redbox kiosks,” Dan Page, TikTok’s head of global distribution for new screens, said in a statement. “This partnership allows us to bring together the power of our exceptional content with the high visibility of Redbox kiosk locations, creating an effective and fresh approach to advertising.
Chicken Soup for the Soul Entertainment, in addition to Redbox, also operates ad-supported video service Crackle. In addition, the company operates Redbox Free Live TV, a free ad-supported streaming television service , with nearly 180 channels as well as a transaction video on demand service. The company creates, acquires and distributes films and TV series through its Screen Media and Chicken Soup for the Soul TV Group subsidiaries.
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