Chicken Soup consumes Locomotive Global

26 Oct,2021

By Our Staff

 

Chicken Soup for the Soul Entertainment Inc, operators of streaming advertising-supported video-on-demand (AVOD) networks, has announced the acquisition of a majority stake in Locomotive Global. This happened last week.

 

Said William J. Rouhana Jr., Chairman and CEO for Chicken Soup for the Soul Entertainment: “Expanding into India has been a top priority for us in our international expansion strategy and we are excited to be entering the market with an ambitious company like Locomotive Global,” “This acquisition allows us to utilize Locomotive’s revenue, cash flow and presence in India as a base for further expansion in the region. We look forward to backing Locomotive’s expansion plans as we continue the rollout of our international strategy.”

 

Added Sunder Aaron, Co-founder and Principal, Locomotive Global Inc: “There continues to be a major opportunity to produce high-quality content for platforms and services in India such as Amazon Prime Video, Netflix, Hotstar-Disney+ and others as they now compete for original movies and series so that they can better serve a rapidly growing OTT user base. Production costs are lower in India than in most Western markets, and we can use our development and production capabilities here to meet this growing demand for quality content. We also aim to provide high-quality productions for Chicken Soup for the Soul Entertainment’s AVOD networks at lower costs. The AVOD business is primed for growth in India as broadband connectivity, FAST channels and usage of connected televisions are expanding rapidly. Chicken Soup for the Soul Entertainment is the perfect company to partner with  so that we can seize hold of these burgeoning opportunities together.”

 

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