Sony seeks strategic partner for Crackle

Sony Pictures Television is looking a strategic partner for Crackle, with the aim of increasing the streaming service’s revenues and making it more competitive.
The move was announced by Mike Hopkins, Sony Pictures Television’s chairman, In a memo sent to employees on Monday, according to local media. “I want to make you all aware that we have begun the process of exploring potential partnerships for Sony Crackle to drive scale and position the streaming network to be more competitive,” the executive wrote.
Hopkins added, “Crackle is a tremendously valuable asset for us, and with premium AVOD getting more and more traction as advertisers seek high value online advertising opportunities, we feel there is room for greater growth for our OTT business. With the right partner — one that could bring additional content or users or leverage existing assets for advertising and promotion — we feel we can expand Crackle’s audience and significantly increase revenue.”
Hopkins also said that “a small group is working on the potential partnership so that the rest of our teams can operate business as usual, focusing on their day-to-day work and commitments to help ensure Crackle remains the premiere AVOD platform.”