Billing it as an business first, Hen Soup for the Soul Leisure has introduced a praise program throughout its whole streaming ecosystem in partnership with Italy-based social media and leisure app TaTaTu.
Audience signing up for this system on Crackle, Redbox or Hen Soup’s eponymous AVOD provider, along side masses of FAST channels, will earn cash. The cash can then be used to bid on prizes and purchase merchandise.
The praise program makes use of TTU Cash, which the corporate stated in a press unencumber are other from cryptocurrency. TaTaTu, which used to be based in 2020 through movie manufacturer Andrea Iervolino, set an international content material handle Hen Soup previous this month.
This system release comes as Hen Soup for the Soul continues to regroup within the wake of swallowing Redbox in 2022 in a $375 million deal. Like others in its peer staff, the corporate’s inventory has taken a beating on account of its publicity to streaming, which Wall Side road has cooled on of overdue. Stocks in Hen Soup for the Soul have inched up 1% to this point in Tuesday buying and selling, however stay not up to one-third in their degree at first of 2023. The inventory plunged 40% to an rock bottom previous this spring on information of a capital carry and losses within the fourth quarter.
Final week, the corporate reported wider losses within the first quarter when put next with the similar duration in 2022, but additionally surge in income as studio motion pictures began returning to Redbox’s 34,000 kiosks.
In saying the rewards program, CEO Invoice Rouhana stated it is going to be a differentiator for the corporate because it seems to additional spice up its attraction with value-oriented customers.
“In an technology the place others are elevating the costs of streaming services and products, we’re discovering techniques to praise audience for observing our nice content material,” Rouhana stated. “This collaboration could also be a possibility to toughen the leisure revel in and force engagement at the TaTaTu platform.”
Iervolino stated the collaboration represents “a big step ahead for TaTaTu as we proceed to construct a powerful ecosystem of companions that proportion our imaginative and prescient for the way forward for leisure.”