Chicken Soup’s adjusted EBITDA jumps 85% in 2021; revenues rise 62%

By Devika Patel

Knoxville, Tenn., April 1 – Chicken Soup for the Soul Entertainment, Inc. saw its adjusted EBITDA soar 85% over 2020 levels last year and its revenues increased 62%, despite the company having had a strong 2020 during the Covid-19 pandemic.

Adjusted EBITDA for the year ended Dec. 31, 2021, was $21.8 million, compared with $11.8 million for the year ended Dec. 31, 2020.

“Full-year 2021 net revenue totaled $110.4 million, above our expectations and a 62% increase over 2020,” chairman and chief executive officer William J. Rouhana Jr. said on the company’s fourth quarter and year ended Dec. 31, 2021 earnings conference call on Thursday.

“Adjusted EBITDA reached $21.8 million, growing 85% over the prior year.

“What’s even more impressive is that these growth rates are on top of the strong 2020 performance that we experienced during the Covid pandemic lockdown,” Rouhana said.

As of Dec. 31, 2021, Chicken Soup for the Soul had $44.3 million of cash and cash equivalents, compared to $14.7 million as of Dec. 31, 2020.

The company had $56.7 million of outstanding debt as of Dec. 31, 2021, compared to $44.1 million as of Dec. 31, 2020.

Chicken Soup for the Soul is a Cos Cob, Conn.-based media company that operates online video-on-demand networks that provide video content.

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