Rightbridge Ventures Group AB (publ) (“Rightbridge”or “Rightbridge Ventures”) and CF Entertainment AB (“CF Entertainment”) have today signed an exclusive collaboration agreement for the development of mobile, web, and console games involving their globally recognized IP, Crazy Frog. The agreement initially spans two years and will automatically be extended for one year at a time, provided that revenues of 2 MSEK are generated for CF Entertainment during the contract period. Initially, but no later than February 28, 2024, Rightbridge Ventures is to pay a deductible advance of 1 MSEK to CF Entertainment. The agreement means that Rightbridge has the right to both develop games on its own and to sign licensing agreements with external parties and act as a publisher.
Crazy Frog, with over 8 billion views and 14 million subscribers on YouTube, is a unique phenomenon that consistently ranks in the top 10 list of most viewed music videos ever on YouTube. CF Entertainment, in collaboration with Sony Music and Mach 1 records, recently released a new single and music video, and several new projects are planned. Hearst Entertainment is the agent for CF Entertainment in the American market, where discussions are ongoing about both film releases and series for streaming services.
Sigfrid Söderberg, CEO of CF Entertainment, said, "We are laying the foundation for the Crazy Frog IP with a 360-degree perspective where we now see opportunities ahead in a much broader context. We have a large global fanbase that we want to reward, not just with new singles and music videos, but also with adventures in the gaming world, film releases, and TV series. Games for various platforms have always been high on our agenda, and the partnership with Rightbridge gives us exciting new opportunities to reach full potential in the gaming community."
"Crazy Frog and the collaboration with CF Entertainment give us unique opportunities to further position ourselves in the gaming world," says Claes Kalborg, CEO of Rightbridge Ventures. Having followed Crazy Frog for some time and also collaborated with the CF Entertainment team, Kalborg expresses great expectations for exploring and developing game concepts. "I see enormous potential here; with our network and experience in gaming, combined with a globally recognized IP like Crazy Frog, I see that we can achieve the same success as the iconic Angry Birds."
Claes Kalborg, who led the global licensing for Rovio and Angry Birds during its heyday from 2010–2014, assesses the potential to be on par with Angry Birds with the right partnerships.
For further inquiries, please contact:
Claes Kalborg - CEO of Rightbridge Ventures Group AB
Phone: +46 73 444 55 07
Email: Claes.Kalborg@rightbridge.se
PUBLICATION
This information is information that RightBridge Ventures Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submited for publication, through the agency of the contact persons set out above, on 30/11/2023.
