Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:CSSE) Q2 2023 Earnings Conference Call August 14, 2023 4:30 PM ET

Company Participants

Zaia Lawandow - Head, Investor Relations

William Rouhana - Chairman and Chief Executive Officer

Jason Meier - Chief Financial Officer

Conference Call Participants

Jason Kreyer - Craig-Hallum

Eric Wold - B. Riley Securities

Brian Kinstlinger - Alliance Global Partners

Operator

Good day and thank you for standing by. Welcome to the Chicken Soup for the Soul Entertainment's Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Zaia Lawandow, Head of Investor Relations. Please go ahead.

Zaia Lawandow

Thank you, operator. Good afternoon and thank you for joining us. We'll begin with opening remarks from our Chairman and CEO, William J. Rouhana, followed by remarks from our CFO, Jason Meier. After their remarks, we'll open the call for questions.

The matters discussed on this call use forward-looking statements including those regarding the performance of future fiscal years. Such statements are subject to a number of risks and uncertainties. Actual results could differ materially and adversely from those described in the forward-looking statements as a result of various factors. This includes the risk factors set forth in our most recent annual report on Form 10-K and in our most recent quarterly report on Form 10-Q.

The company undertakes no obligation to update any forward-looking statements. Please refer to the earnings release in the Investor Relations section of the company's website for a discussion of certain non-GAAP forward-looking measures discussed on this call.

Now I'll turn the call over to William Rouhana, Chairman and CEO. Bill please go ahead.

William Rouhana

Thanks Zaia and good afternoon everybody. August 11th was the one year anniversary of our Redbox acquisition. It's been an action-packed year as we've integrated two companies to create one of the largest providers of premium entertainment for value conscious consumers. You know, it's worth noting that as we've gone through this first year, there have been massive changes in the media space and in the broader economy and they're affecting everyone. The Fed funds rate was below 2, it's now above 5. The ability to borrow has become more expensive and at the same time, stock prices of many media companies are down 50%, 60% and even 90%.