Redbox Entertainment (RDBX) 10-Q 12 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2022 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-39741
Entity Registrant Name	Redbox Entertainment Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-2157010
Entity Address, Address Line One	1 Tower Lane
Entity Address, Address Line Two	Suite 800
Entity Address, City or Town	Oakbrook Terrace
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60181
City Area Code	630
Local Phone Number	756-8000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001820201
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Class A Common Stock
Document Information [Line Items]
Title of 12(b) Security	Class A common stock, $0.0001 Par Value per Share
Trading Symbol	RDBX
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	13,685,098
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	32,770,000
Warrants to purchase Class A common stock
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase Class A common stock
Trading Symbol	RDBXW
Security Exchange Name	NASDAQ

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current Assets:
Cash, cash equivalents and restricted cash	$ 13,531	$ 18,478
Accounts receivable, net of allowances of $225 at June 30, 2022 and $259 at December 31, 2021	16,393	10,856
Due from related parties, net (Note 15)	4,247	3,813
Content library	26,122	25,201
Prepaid expenses and other current assets	7,337	6,667
Total current assets	67,630	65,015
Property and equipment, net (Note 2)	32,517	40,624
Goodwill (Note 4)	147,523	147,523
Intangible assets, net (Note 4)	88,492	124,207
Operating lease right-of-use assets (Note 3)	7,502
Other long-term assets	563	663
Total assets	344,227	378,032
Current Liabilities:
Trade payables	36,578	32,266
Due to related parties, net (Note 15)	74	74
Operating lease liabilities, current portion (Note 3)	2,782
Accrued and other current liabilities (Note 5)	55,651	57,755
Current portion of long-term debt (Note 6)	49,730	34,211
Total current liabilities	144,815	124,306
Long-term debt, net (Note 6)	325,478	287,355
Warrant liability (Note 11)	8,447	17,821
Operating lease liabilities, non-current portion (Note 3)	4,936
Other long-term liabilities	10,067	11,501
Total liabilities	493,743	440,983
Commitments and contingencies (Note 13)
Shareholders' Equity
Additional paid-in-capital	319,002	302,455
Non-controlling interest	(111,632)	(32,456)
Accumulated deficit	(356,890)	(332,954)
Total equity	(149,516)	(62,951)
Total liabilities and shareholders' equity	344,227	378,032
Class A Common Stock
Shareholders' Equity
Common stock	1	1
Class B Common Stock
Shareholders' Equity
Common stock	$ 3	$ 3

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accounts receivable, allowance for doubtful accounts	$ 225	$ 259
Class A Common Stock
Common stock, par value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	13,685,098	13,685,098
Common Stock, Shares, Outstanding	13,685,098	13,685,098
Class B Common Stock
Common stock, par value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	32,770,000	32,770,000
Common Stock, Shares, Outstanding	32,770,000	32,770,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net revenue	$ 65,994	$ 69,390	$ 129,221	$ 146,120
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	us-gaap:EntertainmentMember	us-gaap:EntertainmentMember	us-gaap:EntertainmentMember	us-gaap:EntertainmentMember
Operating expenses:
Product cost	$ 28,755	$ 28,674	$ 56,045	$ 56,922
Direct operating	31,400	31,489	61,405	64,513
Marketing	3,102	3,557	7,124	6,841
Stock-based compensation expense	2,018	150	3,826	716
General and administrative	25,712	16,483	48,915	29,792
Depreciation and amortization	24,842	26,938	49,932	54,464
Total operating expenses	115,829	107,291	227,247	213,248
Operating loss	(49,835)	(37,901)	(98,026)	(67,128)
Interest and other income (expense), net:
Interest and other income (expense), net	(15,077)	(8,518)	(7,734)	(15,765)
Total interest and other income (expense), net	(15,077)	(8,518)	(7,734)	(15,765)
Loss before income taxes	(64,912)	(46,419)	(105,760)	(82,893)
Income tax expense (benefit)	88	(11,634)	114	(20,913)
Net loss	(65,000)	$ (34,785)	(105,874)	$ (61,980)
Net loss attributable to non-controlling interest	(42,508)		(81,938)
Net loss attributable to Class A common stockholders	$ (22,492)		$ (23,936)
Loss per share of Class A common stock:
Basic loss per share (Note 9)	$ (1.77)		$ (1.89)
Diluted loss per share (Note 9)	$ (1.75)		$ (1.87)
Weighted average shares of Class A common stock outstanding:
Basic	12,726,531		12,672,822
Diluted	12,726,531		12,672,822

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net loss	$ (105,874)	$ (61,980)
Adjustments to reconcile net loss to net cash flows used in operating activities:
Depreciation	14,227	19,006
Amortization of intangible assets	35,715	35,716
Gain on sale/disposal of assets	(10)	(258)
Stock-based compensation expense	3,826	716
Deferred income taxes		(15,067)
Inter-Company Tax Payable Settlement		15,777
Amortization of deferred financing costs	421	66
PIK interest added to Senior Facilities	15,519	17,600
Change in fair value of warrant liability	(7,774)
Non-cash rent, interest and other	(18)	123
Cash flows from changes in net operating assets and liabilities:
Accounts receivable	(5,526)	(2,065)
Content library	(931)	1,462
Income tax receivable		(6,640)
Prepaid expenses and other current assets	(671)	453
Other assets	100	441
Trade payables	4,605	(3,527)
Change in due to/from related parties	(434)	2,600
Accrued and other liabilities	(2,564)	(20,504)
Net cash flows used in operating activities	(49,389)	(16,081)
Investing Activities:
Purchases of property and equipment	(5,830)	(6,760)
Proceeds from disposition of property and equipment	50	268
Net cash flows used in investing activities	(5,780)	(6,492)
Financing Activities:
Proceeds from Redbox's borrowings	46,352	27,493
Repayments of Redbox's debt obligations	(6,287)	(1,830)
Proceeds from exercise of warrants	11,520
Dividends paid		(90)
Principal payments on finance lease obligations	(1,363)	(1,575)
Net cash flows provided by financing activities	50,222	23,998
Change in cash, cash equivalents and restricted cash	(4,947)	1,425
Cash, cash equivalents and restricted cash:
Beginning of period	18,478	8,927
End of period	$ 13,531	$ 10,352

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (DEFICIT) - USD ($) $ in Thousands	Class A Common Stock Common Stock	Class A Common Stock	Class B Common Stock Common Stock	Class B Common Stock	Common Units	Additional Paid-in Capital	Accumulated Deficit	Non-controlling Interest	Total
Balance at the beginning at Dec. 31, 2020					$ 3	$ 223,085	$ (221,626)		$ 1,462
Balance at beginning (in shares) at Dec. 31, 2020					27,799,748
Related party tax payable settlement						15,777			15,777
Share-based compensation plans and related activity						716			716
Net loss							(61,980)		(61,980)
Balance at the end at Jun. 30, 2021					$ 3	239,578	(283,606)		(44,025)
Balance at the end (in shares) at Jun. 30, 2021					27,799,748
Balance at the beginning at Dec. 31, 2021	$ 1		$ 3			302,455	(332,954)	$ (32,456)	(62,951)
Balance at beginning (in shares) at Dec. 31, 2021	12,618,516	13,685,098	32,770,000	32,770,000
Warrant exercises and issuances						15,483			15,483
Warrant exercises and issuances (in shares)	1,001,803
Share-based compensation plans and related activity						1,064		2,762	3,826
Share-based compensation plans and related activity (in shares)	64,779
Net loss							(23,936)	(81,938)	(105,874)
Balance at the end at Jun. 30, 2022	$ 1		$ 3			$ 319,002	$ (356,890)	$ (111,632)	$ (149,516)
Balance at the end (in shares) at Jun. 30, 2022	13,685,098	13,685,098	32,770,000	32,770,000

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Basis of Presentation.
Basis of Presentation	Note 1: Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared under accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) and in conformity with rules applicable to quarterly financial information. The Condensed Consolidated Financial Statements as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 are unaudited. All adjustments, consisting of normal recurring adjustments, except as otherwise noted, considered necessary for a fair presentation of the unaudited interim Condensed Consolidated Financial Statements for these interim periods have been included. Readers of this unaudited interim Condensed Consolidated quarterly financial information should refer to the audited Consolidated Financial Statements and notes thereto of Redbox Entertainment Inc. and its subsidiaries (“Redbox,” the “Company,” “we,” “our” and “us”) for the year ended December 31, 2021 included in our 2021 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and also available on our website (www.redbox.com ). Certain footnote disclosures that would substantially duplicate those contained in such audited financial statements or which are not required by the rules and regulations of the SEC for interim financial reporting have been condensed or omitted. Refer to Note 1 of the Notes to Consolidated Financial Statements in the Company’s 2021 Annual Report on Form 10-K for further discussion of the Company’s accounting policies and estimates. Such Annual Report also contains a discussion of the Company’s critical accounting policies and estimates. Business Update, Going Concern and Strategic Alternatives Historically, rentals have been correlated with the number and quality of new theatrical titles released in a quarter. During 2021 and for the first six months of 2022, Redbox’s business was negatively impacted by the effects of the ongoing COVID-19 pandemic, which resulted in fewer than expected theatrical releases. In addition, impacts from the Omicron variant has caused further disruption to the business. As such, Redbox rentals have not recovered to the extent expected and, notwithstanding the year-over-year increase in new theatrical releases, were lower than pre-COVID-19 levels. As part of an effort to expand its business and transform into a multi-faceted entertainment company, during the fourth quarter of 2021 and into the first six months of 2022, Redbox increased its marketing and on-demand expenditures. Costs also increased as Redbox purchased more content, which were not offset by an increase in revenues. Redbox has been exploring a number of potential strategic alternatives with respect to the Company’s corporate or capital structure and seeking financing to fund operations and one-time restructuring costs. In March 2022, the Company’s Board of Directors established a Strategic Review Committee to, among other things, consider and oversee strategic alternatives or transactions that may be available to the Company with respect to its corporate or capital structure. Redbox is also executing on a previously announced series of restructuring actions and initiatives to improve its efficiency and reduce its cost structure, including, but not limited to, (i) optimizing its kiosk network and (ii) executing a workforce reduction across its supply chain and corporate teams. However, the risks and uncertainties related to the ongoing adverse effects of the COVID-19 pandemic on the Company’s operating results, together with the Company’s recurring operating losses, accumulated deficit and negative working capital, raise substantial doubt about our ability to continue as a going concern, after consideration of the strategic initiatives outlined below, within one year after the date that the condensed consolidated interim financial statements are issued. The accompanying consolidated financial statements and notes have been prepared assuming the Company will continue as a going concern. For the six months ended June 30, 2022, the Company generated negative cash flows from operations of On March 29, 2022, the Company completed a reduction in force of approximately 150 employees. One-time restructuring charges of million were incurred, the substantial amount of which related to severance. The Company estimates that the workforce reduction will decrease its annual operating costs by approximately On April 15, 2022 certain subsidiaries of the Company entered into the Incremental Assumption and Amendment Agreement No. 6, amending its Credit Agreement (the “Sixth Amendment”), pursuant to which the Sixth Amendment Incremental Revolving Lenders (as defined in the Sixth Amendment) agreed to make available to certain subsidiaries of the Company Sixth Amendment Incremental Revolving Commitments (as defined in the Credit Agreement) in an aggregate amount equal to $50.0 million (subsequently restricted to $45.0 million), the proceeds of which will be used to make payments in accordance with the Budget Plan (as defined in the Credit Agreement) and pay certain fees and expenses . The details of the Sixth Amendment and its terms and conditions are discussed in further detail below in Note 6: Debt As a further condition of the Sixth Amendment, the Company issued to HPS Investment Partners, LLC (the administrative agent and collateral agent to the Credit Agreement) and certain affiliates (as defined in the Credit Agreement) warrants, with an exercise price of $0.0001 per share (the “HPS Warrants”), to purchase 11,416,700 shares of Class A common stock of the Company (“Common Stock”) in the event certain milestones were not met under the Amended Credit Agreement. Upon signing of the Merger Agreement (as defined below), the HPS Warrants became void and all rights of the warrant holders thereunder to exercise the HPS Warrants ceased. In connection with the Sixth Amendment, on April 15, 2022, the Company entered into a Voting and Support Agreement with AP VIII Aspen Holdings, L.P. (“Aspen”), Seaport Global SPAC, LLC and Redwood Holdco, LP (“Redwood”), (collectively the “Stockholders”), whereby the Stockholders agreed to vote their shares of the Company (i) in favor of any strategic transaction approved and recommended by the Company’s Board of Directors (the “Board”), or any committee to which the Board delegates authority, subject to certain terms and conditions (each, a “Transaction”), (ii) in opposition to any transaction involving the Company that has not been approved and recommend by the Board, and (iii) in favor of any directors that are proposed or nominated to the Board by the Company at any annual meeting of the Company. The Company further agreed, pursuant to the Voting and Support Agreement, to (i) permanently reduce a portion of the Union Revolving Credit Facility in an amount equal to $10.6 million (and the Company made such reduction) and (ii) among other agreements, refrain from borrowing under the Union Revolving Credit Facility without the consent of Aspen and Redwood Holdco, LP (other than with respect to certain scheduled borrowings and borrowings to cover interest, fees and expenses). In connection with the execution of the Sixth Amendment, the Company also implemented certain changes to the composition and size of its Board of Directors as further described in the Company’s Current Report on Form 8-K filed with the SEC on April 19, 2022. The Strategic Review Committee of the Board was also dissolved in connection with these changes. In connection with the Company’s entry into the Voting and Support Agreement, Redwood permanently waived the “Early Termination Payment” by the Company (or an affiliate) to Redwood that could have resulted from a provision in that certain Tax Receivable Agreement dated as of October 22, 2021 (“TRA”), which would have been triggered upon the change to the Board’s composition. Additionally, under the Voting and Support Agreement, the Company and Redwood agreed, in connection with the consummation of a Transaction, to (a) terminate the TRA upon the consummation of a Transaction and (b) waive all claims under the TRA with such waiver being effective upon the consummation of such Transaction. On May 10, 2022, the Company entered into a merger agreement with Chicken Soup for the Soul Entertainment, Inc. (“CSSE”), and the other parties thereto (the “Merger Agreement”). As a result, additional borrowings under the Sixth Amendment Incremental Revolving Facility became available upon the Company’s entry into the merger agreement with CSSE provided, that the Company, under the Sixth Amendment Incremental Revolving Facility, restricts its borrowings to $45.0 million. At a special meeting of stockholders on August 9, 2022 (the “Special Meeting”), the Company’s stockholders approved the merger proposal with CSSE. The merger closed on August 11, 2022. As a result, the Company became a wholly owned subsidiary of CSSE. Effective on the closing date, the Company’s Common Stock and warrants ceased to be traded on the NASDAQ and the warrants have been assumed by CSSE and amended and began trading on NASDAQ. For additional information regarding the CSSE merger, refer to Note 17: Subsequent Events . Our unaudited condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2022
Property and Equipment
Property and Equipment	Note 2: Property and Equipment ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, Dollars in thousands ​ 2022 ​ 2021 Kiosks and components ​ $ 190,422 ​ $ 190,496 Computers, servers, and software ​ 104,127 ​ 99,123 Leasehold improvements ​ 4,354 ​ 4,129 Office furniture and equipment ​ 676 ​ 676 Leased Vehicles ​ 11,052 ​ 11,380 Property and equipment, at cost ​ $ 310,631 ​ $ 305,804 Accumulated depreciation ​ (278,114) ​ (265,180) Property and equipment, net ​ $ 32,517 ​ $ 40,624 ​

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2022
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	Note 4: Goodwill and Other Intangible Assets Goodwill is evaluated for impairment annually during the fourth quarter, or more frequently if an event occurs or circumstances change that could more likely than not reduce the fair value of a reporting unit below its carrying value. During the second quarter of 2022, the Company completed a quantitative impairment analysis for goodwill related to its Legacy and Digital reporting units due to its financial performance impairment charge was recorded. As part of the Company’s impairment analysis, the determination of the fair value of the Company’s reporting units requires the Company to make significant estimates and assumptions including the business and financial performance of the Company’s reporting units, as well as how such performance may be impacted by COVID-19. These estimates and assumptions primarily include, but are not limited to: the selection of appropriate peer group companies, control premiums appropriate for acquisitions in the industries in which the Company competes, discount rates, terminal growth rates, forecasts of revenue, operating income, depreciation, amortization and capital expenditures, including considering the impact of COVID-19. Certain events or circumstances that could reasonably be expected to negatively affect the underlying key assumptions and ultimately affect the estimated fair values of the Company’s reporting units include such items as: (i) a decrease in expected future new release movie titles resulting from the prolonged effects of the COVID-19 pandemic (ii) an increase in competition across streaming platforms resulting in fewer titles available at Redbox or fewer rental transactions and (iii) the inability to achieve cost savings or growth initiative targets within an expected timeframe. Although the Company believes its estimates of fair value are reasonable, actual financial results could differ from those estimates due to the inherent uncertainty involved in making such estimates. Changes in assumptions concerning future financial results or other underlying assumptions, including the impact of COVID- 19, could have a significant impact on either the fair value of the reporting units, the amount of any goodwill impairment charges, or both. These estimates can be affected by a number of factors including, but not limited to, the impact of COVID-19, its severity, duration and its impact on global economies, general economic conditions as well as the Company’s profitability. The Company will continue to monitor these potential impacts, including the impact of COVID-19 and economic, industry and market trends and the impact these may have on its Legacy and Digital reporting units. The following table summarizes the changes in goodwill by reportable segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Legacy ​ Digital ​ ​ Dollars in thousands Business Business Total Balance as of December 31, 2020 ​ $ 144,014 ​ $ 3,509 ​ $ 147,523 Balance as of December 31, 2021 ​ $ 144,014 ​ $ 3,509 ​ $ 147,523 Balance as of June 30, 2022 ​ $ 144,014 ​ $ 3,509 ​ $ 147,523 ​ The following table summarizes the carrying amounts and accumulated amortization of intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ December 31, 2021 ​ ​ ​ ​ Gross ​ ​ ​ ​ Net ​ Gross ​ ​ ​ ​ Net ​ ​ Estimated ​ Carrying ​ Accumulated ​ Carrying ​ Carrying ​ Accumulated ​ Carrying Dollars in thousands Useful Life Amount Amortization Amount Amount Amortization Amount Intangible assets subject to amortization: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contracts with retailers 7 years ​ $ 370,000 ​ $ (304,516) ​ $ 65,484 ​ $ 370,000 ​ $ (278,087) ​ $ 91,913 Trade name 7 years ​ 60,000 ​ (49,381) ​ 10,619 ​ 60,000 ​ (45,095) ​ 14,905 Contactable customer list 7 years ​ 40,000 ​ (32,921) ​ 7,079 ​ 40,000 ​ (30,063) ​ 9,937 Developed technology 7 years ​ 30,000 ​ (24,690) ​ 5,310 ​ 30,000 ​ (22,548) ​ 7,452 Total intangible assets subject to amortization ​ $ 500,000 ​ $ (411,508) ​ $ 88,492 ​ $ 500,000 ​ $ (375,793) ​ $ 124,207 ​ The Company recognized amortization expense of $17.9 million for each of the three months ended June 30, 2022 and 2021. The Company recognized amortization expense of There was no impairment of goodwill and other intangible assets for the three and six months ended June 30, 2022 and 2021.

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	6 Months Ended
	Jun. 30, 2022
Accrued and Other Current Liabilities
Accrued and Other Current Liabilities	Note 5: Accrued and Other Current Liabilities Accrued and other current liabilities as of June 30, 2022 and December 31, 2021, consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, Dollars in thousands ​ 2022 ​ 2021 Accrued payroll and other related expenses ​ $ 16,416 ​ $ 23,901 Accrued revenue share ​ 10,954 ​ 11,786 Deferred revenue ​ 9,476 ​ 9,553 Other ​ 18,805 ​ 12,515 Total accrued and other current liabilities ​ $ 55,651 ​ $ 57,755 ​

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt
Debt	Note 6: Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, Dollars in thousands ​ 2022 ​ 2021 Term B Facility ​ $ 271,562 ​ $ 271,562 Paid-In-Kind Interest related to Term Loan Facility ​ ​ 45,884 ​ ​ 31,480 Revolving Credit Facility ​ 53,103 ​ 15,000 Paid-In-Kind Interest related to Revolving Credit Facility ​ ​ 3,846 ​ ​ 2,731 Union Revolving Credit Facility ​ 6,578 ​ 4,616 Total debt outstanding ​ $ 380,973 ​ $ 325,389 Less: Unamortized debt issuance costs ​ (5,765) ​ (3,823) Total debt, net ​ $ 375,208 ​ $ 321,566 Portion due within one year ​ $ 49,730 ​ $ 34,211 Total long-term debt, net ​ $ 325,478 ​ $ 287,355 ​ On October 20, 2017, Redbox Automated Retail, LLC (“RAR”) entered into a credit agreement (“Credit Agreement”), which provided for: ● a first lien term loan facility (the “Term Loan B”), in an aggregate principal amount of $425.0 million, with a five-year maturity; and ● a first lien revolving credit facility (the “Revolving Credit Facility” and, together with the Term Loan B, the “Senior Facilities”), in an aggregate principal amount of up to $30.0 million, with a five-year maturity. The Term Loan B was made available to RAR immediately upon closing and was used in part to retire all $280.0 million of the Company’s existing debt and to settle closing costs associated with the new Term Loan B totaling $19.5 million of which $4.6 million was paid to Apollo Global Securities, LLC, an affiliate of Apollo, for services provided in connection with the financing. The balance of the Term Loan B proceeds were used towards a dividend, occurring on the same day, with total dividends of $160.0 million to equity holders of RAR. Additionally, at the execution of the new Credit Agreement, RAR wrote-off unamortized deferred financing costs of $21.7 million related to the extinguishment of the entire debt under the prior credit agreement. On September 7, 2018, RAR entered into an Incremental Assumption and Amendment Agreement (the “Amendment”) to the Credit Agreement. The Amendment provided for, among other things, (i) an incremental Term B-1 Loan (“Term Loan B-1”) in an original aggregate principal amount of $85.8 million and (ii) the payment of one or more restricted payments to shareholders of RAR in an aggregate amount not to exceed $115.0 million. The proceeds received from the Amendment along with cash flow from the business were used towards a dividend distribution to equity holders of RAR totaling $115.0 million that was paid within five On September 30, 2020, RAR entered into the second amendment to its Credit Agreement (the “Second Amendment”) to, among other things, increase the total net leverage covenant during the remaining term of the Credit Agreement and revise the quarterly amortization payment schedule. On December 28, 2020, RAR entered into a third amendment to its Credit Agreement (the “Third Amendment”). The amendment deferred the December 2020 amortization payment to March 2021. As of December 31, 2020, the Company’s Senior Facilities matured on October 20, 2022, and subsequent to the Amendment, Second Amendment and Third Amendment consisted of: ● the Term Loan B, in an aggregate principal amount of $425.0 million; ● the Term Loan B-1, in an aggregate principal amount of $85.8 million; and ● the Revolving Credit Facility, in an aggregate principal amount of up to $30.0 million. As of June 30, 2022 there was $21.0 million in remaining borrowing capacity under the Revolving Credit Facility. On January 29, 2021, RAR entered into an amendment to its Credit Agreement (the “Fourth Amendment”). The Fourth Amendment provided for, among other things, (i) deferral of principal amortization payments until the maturity date (ii) extension of the maturity date to April 2023, (iii) at RAR’s election, subject to certain liquidity thresholds, payment PIK interest, and, (iv) removal of all financial covenant requirements. In addition, under the Fourth Amendment, RAR incurred an incremental first lien term loan B-2 facility (“Term Loan B-2” and, together with Term Loan B and Term Loan B-1, the “Term Loan Facility”) in an aggregate principal amount of $25.0 million which was provided by New Outerwall Inc. The loan was subsequently assigned to Aspen Parent, Inc., an affiliate of Apollo and therefore a related party of the Company. The proceeds from the loan were used for general corporate purposes. Pursuant to the Fourth Amendment, interest is payable on the Senior Facilities entirely in cash or, for a specified period, could be paid by increasing the principal amount of the Senior Facilities (PIK interest), or through a combination of cash and PIK interest, subject to certain liquidity thresholds. Borrowings under the Senior Facilities bear interest at a rate at RAR’s option, either (a) a London Interbank Offer Rate (“LIBOR”) determined by reference to the costs of funds for Eurodollar deposits for the interest period relevant to such borrowing, adjusted for certain additional costs, subject to a per annum, in each case plus an applicable margin. The applicable margin for borrowings under the Senior Facilities is In addition to paying interest on outstanding principal under the Senior Facilities, RAR is required to pay a commitment fee at a rate equal to 0.50% per annum to the lenders in respect of the unutilized commitments thereunder. RAR is also required to pay customary agency fees. In connection with the Business Combination, on May 16, 2021, RAR entered into another amendment to its Credit Agreement (the “Fifth Amendment”). The Fifth Amendment, which became effective upon consummation of the Business Combination, provided consent to the planned Business Combination and among other things, extended the Senior Facilities maturity date to October 2023 and subordinated the Term Loan B-2 to the Term Loan B and the Term Loan B-1. In addition, among other things, concurrently with the consummation of the Business Combination, the Company repaid On October 11, 2021, RAR entered into a consent to the Fifth Amendment to make certain additional changes to the Credit Agreement, which became effective upon consummation of the Business Combination, including extending the maturity date of the Senior Facilities to April, 2024 and extending the PIK interest option until December 31, 2022 (subject to a minimum pro forma liquidity). On April 15, 2022, RAR entered into a sixth amendment to its Credit Agreement (the “Sixth Amendment”) (capitalized terms used herein are defined in the Credit Agreement as amended through the Sixth Amendment). Pursuant to the Sixth Amendment, an additional aggregate $50.0 million (subsequently restricted to $45.0 million) in financing under the Credit Agreement have been made available to the Company subject to certain conditions, the proceeds of which will be used to make payments in accordance with the Budget Plan and pay certain fees and expenses. From April 15, 2022 until the Signing Deadline Date, borrowings under the Sixth Amendment Incremental Revolving Facility were limited to no more than $15.0 million in the aggregate. Pursuant to the Credit Agreement, additional borrowings of $35.0 million became available on May 10, 2022, as a result of the Company’s entry into a merger agreement with Chicken Soup for the Soul Entertainment, Inc. (“CSSE”). The merger closed on August 11, 2022, and, as a result, the Company became a wholly owned subsidiary of CSSE. See Note 17: Subsequent Events Changes to the Credit Agreement effected by the Sixth Amendment included the following: ● Call protection on the loans was modified so that at any time prior to maturity, a make-whole payment will be payable (i) on the Sixth Amendment Incremental Revolving Loans if such loans are repaid or prepaid with a corresponding permanent commitment reduction and (ii) on the existing Term B Loans, Term B-1 Loans, and Revolving Facility Loans on the amount of such loan repaid or prepaid. The make-whole will not be payable if such loans are prepaid in full upon the consummation of the Company Sale on or prior to the Company Sale Outside Date. ● Events of Default were added including: o Failure to meet Company Sale Milestones (including failure to consummate the Company Sale by October 31, 2022 (or such later date as agreed by the Administrative Agent)). o Failure to meet cost-cutting milestones, subject to a 5 day grace period. o Termination of an Acceptable Purchase Agreement other than in connection with the replacement thereof with certain replacement purchase agreements acceptable to the Administrative Agent, subject to a 5 day grace period. o Termination or cessation of validity of Voting and Support Agreement. Union Revolving Credit Facility On December 29, 2020, Redbox Entertainment, LLC entered into a four-year, $20.0 million revolving credit facility with Union Bank (the “Union Revolving Credit Facility”). The facility is used exclusively to pay for minimum guarantees, license fees and related distribution expenses for original content obtained under the Company’s Redbox Entertainment label. Borrowings outstanding under the Union Revolving Credit Facility as of June 30, 2022 and December 31, 2021 were $6.6 million and $4.6 million, respectively. Borrowings under the Union Revolving Credit Facility will bear interest at either the alternate base rate or LIBOR (based on an interest period selected by the Company of one month, three months or six months) in each case plus a margin. The alternate base rate loans bear interest at a per annum rate equal to the greatest of (i) the base rate in effect on such date, (ii) the federal funds effective rate in effect on such day plus ½ of . The revolving credit facility borrowings that are LIBOR loans bear interest at a per annum rate equal to the applicable LIBOR plus a margin of . The borrowing interest rate for the Union Revolving Credit Facility was as of December 31, 2021, respectively. On April 15, 2022, the Company agreed, pursuant to the Voting and Support Agreement, to (i) permanently reduce a portion of the Union Revolving Credit Facility in an amount equal to $10.6 million (and the Company made such reduction) and (ii) among other agreements, refrain from borrowing under the Union Revolving Credit Facility without the consent of Aspen and Redwood Holdco, LP (other than with respect to certain scheduled borrowings and borrowings to cover interest, fees and expenses). Availability under the Union Revolving Credit Facility as of June 30, 2022 is In addition to paying interest on outstanding principal under the Union Revolving Credit Facility, Redbox Entertainment, LLC is required to pay a commitment fee at a rate equal to 0.50% per annum to the lenders in respect of the unutilized commitments thereunder. Dividend Restrictions The Credit Agreement contains certain customary affirmative covenants and negative covenants, including a limitation on the Company’s ability to pay dividends on or make distributions in respect of its capital stock or make other restricted payments. The covenant prohibiting dividends and other restricted payments has certain limited exceptions, including for customary overhead, legal, accounting and other professional fees and expenses; taxes; customary salary, bonus and other benefits; and up to $1.03 million for dividends that were accrued on equity interests that were unvested as of the payment of the Company’s last dividend in 2018 and have subsequently vested. Interest Rates and Fees As of June 30, 2022 and December 31, 2021, the borrowing interest rate for the Senior Facilities was 9.80% and 9.25%, respectively. Amortization and Prepayments Required minimum principal amortization payments under the term loan of the Senior Facilities as of June 30, 2022, are as follows: ​ ​ ​ ​ ​ ​ Repayment Dollars in thousands ​ Amount 2022 ​ $ 45,884 2023 ​ — 2024 ​ 271,562 Total ​ $ 317,446 ​ In addition, the Senior Facilities require RAR to prepay outstanding term loan borrowings, subject to certain exceptions, with: ● a certain percentage set forth in the Credit Agreement governing the Senior Facilities of RAR’s annual excess cash flow, as defined under the Senior Facilities; ● a certain percentage of the net cash proceeds of certain non-ordinary course asset sales, other dispositions of property or certain casualty events, in each case subject to certain exceptions and reinvestment rights; and ● the net cash proceeds of any issuance or incurrence of debt, other than proceeds from debt permitted under the Senior Facilities. RAR may voluntarily repay outstanding loans that are funded solely by internally generated cash from business operations under the Senior Facilities at any time, without prepayment premium or penalty, except customary “breakage” costs with respect to LIBOR rate loans. All obligations under the Senior Facilities are unconditionally guaranteed by each of RAR’s existing and future direct and indirect material, wholly-owned domestic subsidiaries, subject to certain exceptions, and the direct parent of RAR. The obligations are secured by a pledge of substantially all of RAR’s assets and those of each guarantor, including capital stock of the subsidiary guarantors and 65% of the capital stock of the first-tier foreign subsidiaries that are not subsidiary guarantors, in each case subject to certain exceptions, and its capital stock owned by RAR’s direct parent. Such security interests consist of a first-priority lien with respect to the collateral. All obligations under the Union Revolving Credit Facility are guaranteed by all direct and indirect wholly owned subsidiaries of the Company’s Redbox Entertainment, LLC entity. Letters of Credit As required under the Senior Facilities, the Company has a letter of credit arrangement to provide for the issuance of standby letters of credit. The arrangement supports the collateral requirements for insurance claims and is good for one year to be renewed annually if necessary. The letter of credit is cash-collateralized at 105% in the amount of $3.1 million and $3.4 million as of June 30, 2022 and December 31, 2021, respectively. In October 2021, the Company entered into a letter of credit arrangement of $0.8 million that serves as a security deposit for leased warehouse space and is pledged by an equal amount of cash pledged as collateral. The Company’s letter of credit arrangements are classified as restricted cash and reflect balances of $3.9 million and $4.2 million as of June 30, 2022 and December 31, 2021, respectively.

Interest Rate Derivatives

Interest Rate Derivatives	6 Months Ended
	Jun. 30, 2022
Interest Rate Derivatives
Interest Rate Derivatives	Note 7: Interest Rate Derivatives The Company entered into an interest rate swap on October 22, 2018 to manage its exposure to changes in the interest rates related to its term loan (“Term B Facility”) following the Amendment discussed in Note 6: Debt Under the terms of the agreement, the Company entered into a three-year fixed-for-floating interest rate swap agreement with Nomura Global Financial Products, Inc. for a fixed notional amount of $200.0 million to swap the variable rate portion of interest payments tied to the one-month LIBOR under its term loans for fixed interest payments. The swap effectively locked in an average of a three-year forward curve for the one-month LIBOR at a fixed rate of 3.0335%, resulting in a total interest rate on the $200.0 million notional of 10.2835%. The interest rate swap agreement expired on October 31, 2021. See Note 6: Debt The following table discloses the effect of the Company’s derivative instrument on the unaudited Condensed Consolidated Statements of Operations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the six months ended ​ ​ ​ June 30, ​ June 30, ​ Dollars in thousands ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Interest and other income (expense), net $ — $ 32 $ — $ 50 ​ ​

Segment Information and Geograp

Segment Information and Geographic Data	6 Months Ended
	Jun. 30, 2022
Segment Information and Geographic Data
Segment Information and Geographic Data	Note 8: Segment Information and Geographic Data The Company currently conducts its business through two operating segments: (1) Legacy Business and (2) Digital Business. For all periods presented, the Company did not operate outside the United States and Puerto Rico (collectively the United States). As such, all of the Company’s long-lived assets are located in the United States. The Company’s Legacy Business operates a network of approximately 36,000 self-service kiosks where consumers can rent or purchase new-release DVDs and Blu-ray Discs TM (“movies”). The Company’s Legacy Business also produces, acquires, and distributes movies exclusively through its Redbox Entertainment label and generates service revenue by providing installation, merchandising and break-fix services to other kiosks businesses. Our Legacy Business also includes corporate general and administrative expenses, which include technology and public company costs, along with corporate overhead expenses related to our Digital Business. The Company’s Digital Business provides both transactional and ad-supported digital streaming services, which include 1) Redbox On Demand, a transactional service which provides digital rental or purchase of new release and catalog movies and TV content, 2) Redbox Free On Demand, an ad-supported service providing free movies and TV shows on demand, and 3) Redbox Free Live TV, a free, ad-supported television service giving access to more than 145 linear channels. Furthermore, the Company monetizes digital advertising space in Redbox emails and apps amongst other platforms, which is referred to as Media Network. The Digital Business includes expenses directly attributable to this business. Adjusted EBITDA is the profitability metric reported to the chief operating decision maker (“CODM”) for purposes of making decisions about allocation of resources to each segment and assessing performance of each segment. The Company believes this measure is most useful in assessing the underlying performance of its business. Adjusted EBITDA is before integration related costs, efficiency initiatives, and other items. Adjusted EBITDA also excludes the effects of financings, income tax and the non-cash accounting effects of depreciation and intangible asset amortization. As segment assets are not reported to or used by the CODM to measure business performance or allocate resources, total segment assets and capital expenditures are not presented below. Summarized financial information by segment is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ Dollars in thousands ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Net revenue ​ ​ ​ ​ ​ Legacy Business ​ $ 53,802 ​ $ 62,127 ​ $ 102,569 ​ $ 129,764 ​ Digital Business ​ 12,192 ​ 7,263 ​ 26,652 ​ 16,356 ​ Total ​ $ 65,994 ​ $ 69,390 ​ $ 129,221 ​ $ 146,120 ​ Adjusted EBITDA ​ ​ ​ ​ ​ Legacy Business ​ $ (11,400) ​ $ (4,648) ​ $ (26,953) ​ $ (4,314) ​ Digital Business ​ (54) ​ 833 ​ 1,961 ​ 1,801 ​ Total ​ $ (11,454) ​ $ (3,815) ​ $ (24,992) ​ $ (2,513) ​ ​ The following is a reconciliation of Adjusted EBITDA to loss before income taxes for the three and six months ended June 30, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ ​ June 30, ​ June 30, ​ Dollars in thousands ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Loss before income taxes $ (64,912) ​ $ (46,419) $ (105,760) ​ $ (82,893) ​ Add: ​ ​ ​ ​ ​ Depreciation and amortization ​ 24,842 ​ 26,938 ​ 49,932 ​ 54,464 ​ Interest and other (income) expense, net ​ 15,077 ​ 8,518 ​ 7,734 ​ 15,765 ​ Business optimization (a) ​ — ​ 3,508 ​ — ​ 4,058 ​ One-time non-recurring (b) ​ 11,577 ​ 604 ​ 15,320 ​ 968 ​ New business start-up costs (c) ​ — ​ 282 ​ — ​ 453 ​ Restructuring related (d) ​ (56) ​ 509 ​ 3,956 ​ 1,861 ​ Stock-based compensation expense ​ 2,018 ​ 150 ​ 3,826 ​ 716 ​ Transaction cost ​ ​ — ​ ​ 2,095 ​ ​ — ​ ​ 2,095 ​ Adjusted EBITDA ​ $ (11,454) ​ $ (3,815) ​ $ (24,992) ​ $ (2,513) ​ (a) Business optimization costs include employee retention costs, IT costs as well as consulting costs for certain projects. (b) Includes costs related to project costs and initiatives, as well as bank, legal and other fees in connection with the Company’s debt financing activities. During the three and six months ended June 30, 2022, the Company incurred (c) Includes costs to support the Company’s On Demand and AVOD offerings, along with costs related to the Company’s service and media network businesses. (d) Restructuring related costs include such items as employee severance charges. During the six months ended June 30, 2022, the Company incurred severance and related costs of

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share
Earnings Per Share	Note 9: Earnings Per Share Basic earnings per share of Class A common stock is computed by dividing net income attributable to common stockholders by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings per share of Class A common stock is computed by dividing net income attributable to common stockholders adjusted for the assumed exchange of all potentially dilutive securities by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive elements. Basic and diluted loss per share is computed using the two-class method. The Company analyzed the calculation of earnings per share for comparative periods presented and determined that it resulted in values that would not be meaningful to the users of the consolidated financial statements. Therefore, earnings per share information has not been presented for periods prior to the Business Combination. The following table sets forth the computation of basic and diluted net loss per share of Class A common stock: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ Dollars in thousands, except per share amounts ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Basic and Diluted EPS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (65,000) ​ $ (34,785) ​ $ (105,874) ​ $ (61,980) ​ Less: net loss attributable to non-controlling interests ​ ​ (42,508) ​ ​ N/A ​ ​ (81,938) ​ ​ N/A ​ Net loss attributable to Redbox Entertainment Inc. — Basic and Diluted ​ $ (22,492) ​ ​ N/A ​ $ (23,936) ​ ​ N/A ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares of Class A common stock outstanding — Basic and Diluted ​ ​ 12,726,531 ​ ​ N/A ​ ​ 12,672,822 ​ ​ N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share of Class A common stock outstanding — Basic and Diluted ​ $ (1.77) ​ ​ N/A ​ $ (1.89) ​ ​ N/A ​ ​ Shares of the Company’s Class B common stock do not share in the earnings or losses, are not entitled to receive dividends, or to receive any portion of assets upon liquidation of the Company, and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been presented. As the Company was in a loss position for the three and six months ended June 30, 2022 and 2021, the Company has determined all potentially dilutive shares would be anti-dilutive in these periods and therefore are excluded from the calculation of diluted weighted average shares outstanding. This results in the calculation of weighted average shares outstanding to be the same for basic and diluted EPS. The following outstanding potentially dilutive shares have been excluded from the calculation of diluted EPS because their effect would have been anti-dilutive: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Public and private placement warrants ​ ​ 15,841,930 ​ ​ N/A ​ ​ 15,841,930 ​ ​ N/A ​ ​

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity
Stockholders' Equity	Note 10: Stock holders’ Equity Preferred Stock outstanding Class A Common Stock outstanding Class B Common Stock -for-one basis with Redwood Intermediate common units held by such holders for Class A common stock. At June 30, 2022, there were outstanding Non-controlling Interest of operations of Redwood Intermediate LLC and reflected the proportionate interest held by Redwood Holdco, LP as non-controlling interest in the accompanying consolidated balance sheet. As of June 30, 2022, Redwood Holdco, LP’s equity ownership percentage in Redwood Intermediate LLC was approximately 70.5%.

Warrant Liability

Warrant Liability	6 Months Ended
	Jun. 30, 2022
Warrant Liability
Warrant Liability	Note 11: Warrant Liability At June 30, 2022, there were 10,779,430 Public Warrants and 5,062,500 Private Placement Warrants outstanding. Each whole Public Warrant entitles the registered holder to purchase per share. Pursuant to the warrant agreement, a holder of Public Warrants may exercise its warrants only for a whole number of shares of Class A common stock. This means that only a whole warrant may be exercised at any given time by a warrant holder. The Public Warrants expire The Company may redeem the Public Warrants under the following conditions: ● In whole and not in part; ● At a price of $0.01 per warrant; ● Upon not less than 30 days ’ prior written notice of redemption (the “ 30-day redemption period”) to each warrant holder; and ● if, and only if, the last reported sale price of the Company’s Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30 - trading day period ending on the third trading day prior to the date on which the Company gives proper notice of such redemption and provided certain other conditions are met. The redemption criteria discussed above prevent a redemption call unless there is at the time of the call a significant premium to the warrant exercise price. If the foregoing conditions are satisfied and the Company issues a notice of redemption of the warrants, each warrant holder will be entitled to exercise its warrant prior to the scheduled redemption date. However, the price of the Company’s Class A common stock may fall below the The Private Placement Warrants are identical to the Public Warrants, except that the Private Placement Warrants are exercisable on a cashless basis and are non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. During the second quarter of 2022, there were 1,001,803 warrants that were exercised, which resulted in cash proceeds of $11.5 million. As of June 30, 2022 and December 31, 2021, the Company recorded warrant liabilities of $8.4 million and $17.8 million, respectively, in the condensed consolidated balance sheets. For the three and six months ended June 30, 2022, the Company recognized a loss of Interest and other income (expense), net Condensed Consolidated Statements of Operations

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Measurements
Fair Value Measurements	Note 12: Fair Value Measurements FASB ASC Topic 820 “Fair Value Measurements and Disclosures” (“ASC 820”) defines fair value, the methods used to measure fair value and the expanded disclosures about fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between the buyer and the seller at the measurement date. In determining fair value, the valuation techniques consistent with the market approach, income approach and cost approach shall be used to measure fair value. ASC 820 establishes a fair value hierarchy for inputs, which represent the assumptions used by the buyer and seller in pricing the asset or liability. These inputs are further defined as observable and unobservable inputs. Observable inputs are those that buyer and seller would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company’s assumptions about the inputs that the buyer and seller would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three levels based on the inputs as follows: Level 1 — Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not being applied. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment. Level 2 — Valuations based on (i) quoted prices in active markets for similar assets and liabilities, (ii) quoted prices in markets that are not active for identical or similar assets, (iii) inputs other than quoted prices for the assets or liabilities, or (iv) inputs that are derived principally from or corroborated by market through correlation or other means. Level 3 — Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The fair value of the Company’s certain assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the condensed balance sheet. The fair values of cash and cash equivalents, prepaid assets, accounts payable and accrued expenses, due to related parties are estimated to approximate the carrying values as of June 30, 2022 due to the short maturities of such instruments. The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at June 30, 2022 and December 31, 2021 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, Dollars in thousands ​ Level ​ 2022 ​ 2021 Liabilities: ​ ​ ​ ​ Warrant Liability – Public Warrants 1 ​ $ 5,713 ​ $ 11,213 Warrant Liability – Private Placement Warrants 3 ​ ​ 2,734 ​ ​ 6,608 Total Warrant Liability ​ $ 8,447 ​ $ 17,821 ​ The Public Warrants and Private Placement Warrants are accounted for as liabilities in accordance with ASC 815-40, Derivatives and Hedging – Contracts in Entity’s Own Equity, and are presented within Warrant liabilities on the Company’s Condensed Consolidated Balance Sheets. The warrant liabilities were measured at fair value at the closing of the Business Combination and are measured at fair value on a recurring basis, with changes in fair value presented within Interest and other income (expense), net Condensed Consolidated Statements of Operations. Measurement The Public Warrants and Private Placement Warrants are measured at fair value on a recurring basis. The measurement of the Public Warrants as of June 30, 2022 and December 31, 2021 are classified as Level 1 due to the use of an observable market quote in an active market and the subsequent measurement of the Private Placement Warrants as of June 30, 2022 and December 31, 2021 are classified Level 3 due to the use of unobservable inputs. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Input ​ June 30, 2022 ​ ​ December 31, 2021 ​ Risk-free interest rate ​ 3.00 % ​ ​ 1.20 % Expected term (years) ​ 4.30 ​ ​ ​ 4.80 ​ Expected volatility ​ 21.4 % ​ ​ 31.4 % Stock price ​ $ 7.40 ​ ​ $ 7.41 ​ ​ As of June 30, 2022, the Public Warrants and Private Placement Warrants were determined to be $0.53 and $0.54 per warrant, respectively, for aggregate values of approximately $5.7 million and $2.7 million, respectively. As of December 31, 2021, the Public Warrants and Private Placement Warrants were determined to be $1.04 and $1.09 per warrant, respectively, for aggregate values of approximately $11.2 million and $6.6 million, respectively. The following table presents the changes in the fair value of warrant liabilities for the six months ended June 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Private ​ Warrant Dollars in thousands ​ Public ​ Placement ​ Liabilities Valuation as of December 31, 2021 ​ $ 11,213 ​ $ 6,608 ​ $ 17,821 Exercise of warrants ​ ​ — ​ ​ (1,600) ​ ​ (1,600) Change in valuation inputs or other assumptions ​ (5,500) ​ (2,274) ​ (7,774) Fair value as of June 30, 2022 ​ $ 5,713 ​ $ 2,734 ​ $ 8,447 ​ Level 3 financial liabilities consist of the Private Placement Warrant liability for which there is no current market for these securities such that the determination of fair value requires significant judgment or estimation. Changes in fair value measurements categorized within Level 3 of the fair value hierarchy are analyzed each period based on changes in estimates or assumptions and recorded as appropriate.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies
Commitments and Contingencies	Note 13: Commitments and Contingencies The Company leases office facilities and certain equipment necessary to maintain its information technology infrastructure. Rent expense, net of sublease income, under its operating lease agreements was $0.9 million and $1.1 million for the three months ended June 30, 2022 and 2021, respectively. Rent expense, net of sublease income, under its operating lease agreements was The Company also leases automobiles under finance leases expiring at various dates through September, 2025. Management assesses these leases as they come due as to whether it should purchase, enter into new finance leases, or enter into operating leases. Assets held under finance leases are included in Property and equipment, net Condensed Consolidated Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ June 30, 2022 ​ December 31, 2021 Gross property and equipment $ 11,051 ​ $ 11,380 Accumulated depreciation ​ (8,273) ​ (7,285) Net property and equipment ​ $ 2,778 ​ $ 4,095 ​ Content License Agreements The Company licenses minimum quantities of theatrical and direct-to-video titles under licensing agreements with certain movie content providers. Total estimated movie content commitments under the terms of the Company’s content license agreements in effect as of June 30, 2022 is presented in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ Total ​ 2022 ​ 2023 Minimum estimated movie content commitments $ 34,833 $ 24,754 $ 10,079 ​ Legal Matters The Company is involved from time to time in legal proceedings incidental to the conduct of its business. The Company does not believe that any liability that may result from these proceedings will have a material adverse effect on its consolidated financial statements. ​ Other Matters ​ On July 13, 2022, the Company issued 500,000 unregistered shares of the Company’s Class A common stock to BTIG, LLC (“BTIG”) in connection with the settlement of financial advisory services provided by BTIG to the Company. During the three months ended June 30, 2022, the Company recognized General and administrative Condensed Consolidated Statements of Operations.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Taxes.
Income Taxes	Note 14: Income Taxes The Company’s effective tax rate was (0.1)% and 25.1% for the three months ended June 30, 2022 and 2021, respectively. The Company’s effective tax rate was (0.1)% and 25.2% for the six months ended June 30, 2022 and 2021, respectively. Due to the full valuation allowance on our deferred tax assets, the tax provision for the three and six months ended June 30, 2022 does not reflect any material tax expense. Tax Years Open for Examination As of June 30, 2022, the years 2018 through 2021 were open under statutes of limitations for possible examination by the U.S. federal and most state tax authorities. There are currently ​ Waiver to Tax Receivable Agreement ​ As discussed in Note 1: Basis of Presentation , in connection with the Company’s entry into the Voting and Support Agreement, Redwood permanently waived the “Early Termination Payment” by the Company (or an affiliate) to Redwood that could have resulted from a provision in that certain Tax Receivable Agreement dated as of October 22, 2021 (“TRA”), which would have been triggered upon the change to the Board’s composition. Additionally, under the Voting and Support Agreement, the Company and Redwood agreed, in connection with the consummation of a Transaction, to (a) terminate the TRA upon the consummation of a Transaction and (b) waive all claims under the TRA with such waiver being effective upon the consummation of such Transaction.

Related-Party Transactions

Related-Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions
Related-Party Transactions	Note 15: Related-Party Transactions The Company receives and provides certain operating support under commercial services agreements with affiliates of Apollo, primarily ecoATM. A summary of the amounts due to/from such related parties is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, Dollars in thousands 2022 2021 Due from related parties, net ​ $ 4,247 ​ $ 3,813 Due to related parties, net ​ $ 74 ​ $ 74 ​ The balance in amounts due to related parties primarily includes the unpaid dividends related to employee and non-employee directors. Revenues from related parties for the three months ended June 30, 2022 and 2021 were $5.7 million and $3.5 million, respectively. Revenues from related parties for the six months ended June 30, 2022 and 2021 were

Additional Supplemental Cash Fl

Additional Supplemental Cash Flow Financial Information	6 Months Ended
	Jun. 30, 2022
Additional Supplemental Cash Flow Financial Information
Additional Supplemental Cash Flow Financial Information	Note 16: Additional Supplemental Cash Flow Financial Information Cash, Cash Equivalents and Restricted Cash: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ Dollars in thousands 2022 2021 ​ Cash and cash equivalents ​ $ 9,636 ​ $ 14,320 ​ Restricted cash ​ 3,895 ​ 4,158 ​ Cash, cash equivalents and restricted cash ​ $ 13,531 ​ $ 18,478 ​ ​ Cash Interest and Taxes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended Six Months Ended ​ ​ June 30, ​ June 30, Dollars in thousands 2022 2021 2022 2021 Cash paid during the period for interest $ — $ — $ — $ — Cash paid during the period for income taxes, net $ — $ 640 $ — $ 731 ​ Non-cash Transactions ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, Dollars in thousands 2022 2021 Purchases of property and equipment financed by finance lease obligations $ 83 $ 28 Right-of-use assets obtained in exchange for new operating lease liabilities ​ $ 9,102 ​ $ — Purchases of property and equipment included in ending trade payables or accrued and other current liabilities $ 313 $ 223 ​

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events
Subsequent Events	Note 17: Subsequent Events We have evaluated subsequent events through August 12, 2022, the date on which the financial statements were issued, and based on our review did not identify any events that would have required recognition or disclosure in these condensed consolidated financial statements, except the following: At a special meeting of stockholders on August 9, 2022, the Company’s stockholders approved the merger proposal with CSSE. The merger closed on August 11, 2022. As a result, the Company became a wholly owned subsidiary of CSSE. At closing, each share of the Company’s Common Stock was cancelled and each shareholder received 0.087 of a share (the “Exchange Ratio”) of Class A common stock, par value of $0.001 per share, of CSSE (the “CSSE Class A Common Stock”), each share of the Company’s Class B common stock was automatically cancelled for no additional consideration and each Opco LLC Unit (other than each Opco LLC Unit owned, directly or indirectly, by the Company or CSSE) was converted into the right to receive a number of shares of CSSE Class A Common Stock equal to the Exchange Ratio. Effective on the closing date, the Company’s Common Stock and warrants ceased to be traded on the NASDAQ. Warrant Assumption and Amendment In connection with the consummation of the merger, on August 11, 2022, the Company entered into a warrant assumption and amendment agreement (the “Warrant Assumption and Amendment Agreement”) with CSSE and Continental Stock Transfer & Trust Company (“CST”). Pursuant to the Warrant Assumption and Amendment Agreement, CSSE assumed all of the Company’s rights, interests and obligations under that certain warrant agreement dated November 27, 2020 by and between Redbox and CST, as warrant agent (the “Warrant Agreement”) governing the Company’s outstanding warrants to purchase the Company’s Common Stock (the “Redbox Warrants”). Prior to the merger, each Redbox Warrant entitled the registered holder to purchase one whole share of Common Stock at a price of $11.50 per share, subject to adjustment. At the Effective Time (as defined in the Merger Agreement), as a result of the merger and adjustment caused thereby, 11.494 Redbox Warrants will be required to purchase one whole share of CSSE Class A Common Stock at a price of $132.18 per share, subject to adjustment. This was calculated by dividing the pre-merger $11.50 per-share exercise price of the Redbox Warrants by the 0.087 Exchange Ratio. Additionally, at the Effective Time, the Redemption Trigger Price (as such term is defined in the Warrant Agreement) will be $206.90 per share of CSSE Class A Common Stock. This was calculated by dividing the pre-merger $18.00 per-share Redemption Trigger Price of the Redbox Warrants by the 0.087 Exchange Ratio. ​ ​

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2022
Basis of Presentation.
Basis of Presentation	The accompanying unaudited Condensed Consolidated Financial Statements have been prepared under accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) and in conformity with rules applicable to quarterly financial information. The Condensed Consolidated Financial Statements as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 are unaudited. All adjustments, consisting of normal recurring adjustments, except as otherwise noted, considered necessary for a fair presentation of the unaudited interim Condensed Consolidated Financial Statements for these interim periods have been included. Readers of this unaudited interim Condensed Consolidated quarterly financial information should refer to the audited Consolidated Financial Statements and notes thereto of Redbox Entertainment Inc. and its subsidiaries (“Redbox,” the “Company,” “we,” “our” and “us”) for the year ended December 31, 2021 included in our 2021 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and also available on our website (www.redbox.com ). Certain footnote disclosures that would substantially duplicate those contained in such audited financial statements or which are not required by the rules and regulations of the SEC for interim financial reporting have been condensed or omitted. Refer to Note 1 of the Notes to Consolidated Financial Statements in the Company’s 2021 Annual Report on Form 10-K for further discussion of the Company’s accounting policies and estimates. Such Annual Report also contains a discussion of the Company’s critical accounting policies and estimates.
Business Update, Going Concern and Strategic Alternatives	Business Update, Going Concern and Strategic Alternatives Historically, rentals have been correlated with the number and quality of new theatrical titles released in a quarter. During 2021 and for the first six months of 2022, Redbox’s business was negatively impacted by the effects of the ongoing COVID-19 pandemic, which resulted in fewer than expected theatrical releases. In addition, impacts from the Omicron variant has caused further disruption to the business. As such, Redbox rentals have not recovered to the extent expected and, notwithstanding the year-over-year increase in new theatrical releases, were lower than pre-COVID-19 levels. As part of an effort to expand its business and transform into a multi-faceted entertainment company, during the fourth quarter of 2021 and into the first six months of 2022, Redbox increased its marketing and on-demand expenditures. Costs also increased as Redbox purchased more content, which were not offset by an increase in revenues. Redbox has been exploring a number of potential strategic alternatives with respect to the Company’s corporate or capital structure and seeking financing to fund operations and one-time restructuring costs. In March 2022, the Company’s Board of Directors established a Strategic Review Committee to, among other things, consider and oversee strategic alternatives or transactions that may be available to the Company with respect to its corporate or capital structure. Redbox is also executing on a previously announced series of restructuring actions and initiatives to improve its efficiency and reduce its cost structure, including, but not limited to, (i) optimizing its kiosk network and (ii) executing a workforce reduction across its supply chain and corporate teams. However, the risks and uncertainties related to the ongoing adverse effects of the COVID-19 pandemic on the Company’s operating results, together with the Company’s recurring operating losses, accumulated deficit and negative working capital, raise substantial doubt about our ability to continue as a going concern, after consideration of the strategic initiatives outlined below, within one year after the date that the condensed consolidated interim financial statements are issued. The accompanying consolidated financial statements and notes have been prepared assuming the Company will continue as a going concern. For the six months ended June 30, 2022, the Company generated negative cash flows from operations of On March 29, 2022, the Company completed a reduction in force of approximately 150 employees. One-time restructuring charges of million were incurred, the substantial amount of which related to severance. The Company estimates that the workforce reduction will decrease its annual operating costs by approximately On April 15, 2022 certain subsidiaries of the Company entered into the Incremental Assumption and Amendment Agreement No. 6, amending its Credit Agreement (the “Sixth Amendment”), pursuant to which the Sixth Amendment Incremental Revolving Lenders (as defined in the Sixth Amendment) agreed to make available to certain subsidiaries of the Company Sixth Amendment Incremental Revolving Commitments (as defined in the Credit Agreement) in an aggregate amount equal to $50.0 million (subsequently restricted to $45.0 million), the proceeds of which will be used to make payments in accordance with the Budget Plan (as defined in the Credit Agreement) and pay certain fees and expenses . The details of the Sixth Amendment and its terms and conditions are discussed in further detail below in Note 6: Debt As a further condition of the Sixth Amendment, the Company issued to HPS Investment Partners, LLC (the administrative agent and collateral agent to the Credit Agreement) and certain affiliates (as defined in the Credit Agreement) warrants, with an exercise price of $0.0001 per share (the “HPS Warrants”), to purchase 11,416,700 shares of Class A common stock of the Company (“Common Stock”) in the event certain milestones were not met under the Amended Credit Agreement. Upon signing of the Merger Agreement (as defined below), the HPS Warrants became void and all rights of the warrant holders thereunder to exercise the HPS Warrants ceased. In connection with the Sixth Amendment, on April 15, 2022, the Company entered into a Voting and Support Agreement with AP VIII Aspen Holdings, L.P. (“Aspen”), Seaport Global SPAC, LLC and Redwood Holdco, LP (“Redwood”), (collectively the “Stockholders”), whereby the Stockholders agreed to vote their shares of the Company (i) in favor of any strategic transaction approved and recommended by the Company’s Board of Directors (the “Board”), or any committee to which the Board delegates authority, subject to certain terms and conditions (each, a “Transaction”), (ii) in opposition to any transaction involving the Company that has not been approved and recommend by the Board, and (iii) in favor of any directors that are proposed or nominated to the Board by the Company at any annual meeting of the Company. The Company further agreed, pursuant to the Voting and Support Agreement, to (i) permanently reduce a portion of the Union Revolving Credit Facility in an amount equal to $10.6 million (and the Company made such reduction) and (ii) among other agreements, refrain from borrowing under the Union Revolving Credit Facility without the consent of Aspen and Redwood Holdco, LP (other than with respect to certain scheduled borrowings and borrowings to cover interest, fees and expenses). In connection with the execution of the Sixth Amendment, the Company also implemented certain changes to the composition and size of its Board of Directors as further described in the Company’s Current Report on Form 8-K filed with the SEC on April 19, 2022. The Strategic Review Committee of the Board was also dissolved in connection with these changes. In connection with the Company’s entry into the Voting and Support Agreement, Redwood permanently waived the “Early Termination Payment” by the Company (or an affiliate) to Redwood that could have resulted from a provision in that certain Tax Receivable Agreement dated as of October 22, 2021 (“TRA”), which would have been triggered upon the change to the Board’s composition. Additionally, under the Voting and Support Agreement, the Company and Redwood agreed, in connection with the consummation of a Transaction, to (a) terminate the TRA upon the consummation of a Transaction and (b) waive all claims under the TRA with such waiver being effective upon the consummation of such Transaction. On May 10, 2022, the Company entered into a merger agreement with Chicken Soup for the Soul Entertainment, Inc. (“CSSE”), and the other parties thereto (the “Merger Agreement”). As a result, additional borrowings under the Sixth Amendment Incremental Revolving Facility became available upon the Company’s entry into the merger agreement with CSSE provided, that the Company, under the Sixth Amendment Incremental Revolving Facility, restricts its borrowings to $45.0 million. At a special meeting of stockholders on August 9, 2022 (the “Special Meeting”), the Company’s stockholders approved the merger proposal with CSSE. The merger closed on August 11, 2022. As a result, the Company became a wholly owned subsidiary of CSSE. Effective on the closing date, the Company’s Common Stock and warrants ceased to be traded on the NASDAQ and the warrants have been assumed by CSSE and amended and began trading on NASDAQ. For additional information regarding the CSSE merger, refer to Note 17: Subsequent Events . Our unaudited condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern.

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property and Equipment
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, Dollars in thousands ​ 2022 ​ 2021 Kiosks and components ​ $ 190,422 ​ $ 190,496 Computers, servers, and software ​ 104,127 ​ 99,123 Leasehold improvements ​ 4,354 ​ 4,129 Office furniture and equipment ​ 676 ​ 676 Leased Vehicles ​ 11,052 ​ 11,380 Property and equipment, at cost ​ $ 310,631 ​ $ 305,804 Accumulated depreciation ​ (278,114) ​ (265,180) Property and equipment, net ​ $ 32,517 ​ $ 40,624

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases
Schedule of components of lease cost	​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, Six Months Ended June 30, Dollars in thousands ​ 2022 ​ 2022 Operating lease cost ​ $ 955 ​ $ 1,987 ​ ​ ​ ​ ​ Finance lease cost ​ ​ ​ ​ Amortization of right-of-use assets ​ 665 ​ 1,374 Interest on lease liabilities ​ 28 ​ 58 Total finance least cost ​ $ 693 ​ $ 1,432 ​ ​ ​ ​ ​ Short-term lease cost (1) ​ ​ 58 ​ ​ 116 Total lease cost ​ $ 1,706 ​ $ 3,535 ​ ​ ​ ​ ​ (1) Short-term lease cost primarily consists of leases with a lease term of 12 months or less. ​ ​
Schedule of supplemental cash flow information related to leases	​ ​ ​ ​ ​ ​ Six Months Ended June 30, Dollars in thousands ​ 2022 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ Operating cash flows from operating leases ​ $ 2,112 Financing cash flows from financing leases ​ 1,363 ​ ​ ​ ​ ​ ​ ​ June 30, 2022 Weighted average remaining lease term (in years): ​ ​ ​ Operating leases ​ 3.1 ​ Finance leases 1.2 ​ ​ ​ ​ ​ Weighted average discount rate: ​ ​ ​ Operating leases ​ 9.25 % Finance leases ​ 3.51 %
Schedule of expected future payments relating to the operating lease liabilities	The expected future payments relating to the Company's operating and finance lease liabilities at June 30, 2022 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ Operating Leases ​ Finance Leases Six months ending June 30, 2022 ​ $ 1,750 ​ $ 888 Year ending December 31, ​ ​ ​ ​ 2023 ​ 3,073 ​ 983 2024 ​ 2,284 ​ 405 2025 ​ 1,681 ​ 159 2026 ​ ​ — ​ ​ — Thereafter ​ — ​ — Total lease payments ​ $ 8,788 ​ $ 2,435 Less imputed interest ​ ​ (1,070) ​ ​ — Total ​ $ 7,718 ​ $ 2,435
Schedule of expected future payments relating to finance lease liabilities	​ The expected future payments relating to the Company's operating and finance lease liabilities at June 30, 2022 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ Operating Leases ​ Finance Leases Six months ending June 30, 2022 ​ $ 1,750 ​ $ 888 Year ending December 31, ​ ​ ​ ​ 2023 ​ 3,073 ​ 983 2024 ​ 2,284 ​ 405 2025 ​ 1,681 ​ 159 2026 ​ ​ — ​ ​ — Thereafter ​ — ​ — Total lease payments ​ $ 8,788 ​ $ 2,435 Less imputed interest ​ ​ (1,070) ​ ​ — Total ​ $ 7,718 ​ $ 2,435

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Other Intangible Assets
Summary of changes in goodwill by reportable segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Legacy ​ Digital ​ ​ Dollars in thousands Business Business Total Balance as of December 31, 2020 ​ $ 144,014 ​ $ 3,509 ​ $ 147,523 Balance as of December 31, 2021 ​ $ 144,014 ​ $ 3,509 ​ $ 147,523 Balance as of June 30, 2022 ​ $ 144,014 ​ $ 3,509 ​ $ 147,523
Summary of carrying amounts and accumulated amortization of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ December 31, 2021 ​ ​ ​ ​ Gross ​ ​ ​ ​ Net ​ Gross ​ ​ ​ ​ Net ​ ​ Estimated ​ Carrying ​ Accumulated ​ Carrying ​ Carrying ​ Accumulated ​ Carrying Dollars in thousands Useful Life Amount Amortization Amount Amount Amortization Amount Intangible assets subject to amortization: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contracts with retailers 7 years ​ $ 370,000 ​ $ (304,516) ​ $ 65,484 ​ $ 370,000 ​ $ (278,087) ​ $ 91,913 Trade name 7 years ​ 60,000 ​ (49,381) ​ 10,619 ​ 60,000 ​ (45,095) ​ 14,905 Contactable customer list 7 years ​ 40,000 ​ (32,921) ​ 7,079 ​ 40,000 ​ (30,063) ​ 9,937 Developed technology 7 years ​ 30,000 ​ (24,690) ​ 5,310 ​ 30,000 ​ (22,548) ​ 7,452 Total intangible assets subject to amortization ​ $ 500,000 ​ $ (411,508) ​ $ 88,492 ​ $ 500,000 ​ $ (375,793) ​ $ 124,207

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Accrued and Other Current Liabilities
Schedule of accrued expenses and other current liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, Dollars in thousands ​ 2022 ​ 2021 Accrued payroll and other related expenses ​ $ 16,416 ​ $ 23,901 Accrued revenue share ​ 10,954 ​ 11,786 Deferred revenue ​ 9,476 ​ 9,553 Other ​ 18,805 ​ 12,515 Total accrued and other current liabilities ​ $ 55,651 ​ $ 57,755

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt
Summary of debt	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, Dollars in thousands ​ 2022 ​ 2021 Term B Facility ​ $ 271,562 ​ $ 271,562 Paid-In-Kind Interest related to Term Loan Facility ​ ​ 45,884 ​ ​ 31,480 Revolving Credit Facility ​ 53,103 ​ 15,000 Paid-In-Kind Interest related to Revolving Credit Facility ​ ​ 3,846 ​ ​ 2,731 Union Revolving Credit Facility ​ 6,578 ​ 4,616 Total debt outstanding ​ $ 380,973 ​ $ 325,389 Less: Unamortized debt issuance costs ​ (5,765) ​ (3,823) Total debt, net ​ $ 375,208 ​ $ 321,566 Portion due within one year ​ $ 49,730 ​ $ 34,211 Total long-term debt, net ​ $ 325,478 ​ $ 287,355
Summary of required minimum principal amortization payments	​ ​ ​ ​ ​ ​ Repayment Dollars in thousands ​ Amount 2022 ​ $ 45,884 2023 ​ — 2024 ​ 271,562 Total ​ $ 317,446

Interest Rate Derivatives (Tabl

Interest Rate Derivatives (Tables)	6 Months Ended
	Jun. 30, 2022
Interest Rate Derivatives
Summary of effect of company's derivative instrument on the Consolidated Statements of Operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the six months ended ​ ​ ​ June 30, ​ June 30, ​ Dollars in thousands ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Interest and other income (expense), net $ — $ 32 $ — $ 50 ​

Segment Information and Geogr_2

Segment Information and Geographic Data (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Information and Geographic Data
Summary of financial information by segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ Dollars in thousands ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Net revenue ​ ​ ​ ​ ​ Legacy Business ​ $ 53,802 ​ $ 62,127 ​ $ 102,569 ​ $ 129,764 ​ Digital Business ​ 12,192 ​ 7,263 ​ 26,652 ​ 16,356 ​ Total ​ $ 65,994 ​ $ 69,390 ​ $ 129,221 ​ $ 146,120 ​ Adjusted EBITDA ​ ​ ​ ​ ​ Legacy Business ​ $ (11,400) ​ $ (4,648) ​ $ (26,953) ​ $ (4,314) ​ Digital Business ​ (54) ​ 833 ​ 1,961 ​ 1,801 ​ Total ​ $ (11,454) ​ $ (3,815) ​ $ (24,992) ​ $ (2,513) ​
Summary of reconciliation of Adjusted EBITDA to (loss) income before income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ ​ June 30, ​ June 30, ​ Dollars in thousands ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Loss before income taxes $ (64,912) ​ $ (46,419) $ (105,760) ​ $ (82,893) ​ Add: ​ ​ ​ ​ ​ Depreciation and amortization ​ 24,842 ​ 26,938 ​ 49,932 ​ 54,464 ​ Interest and other (income) expense, net ​ 15,077 ​ 8,518 ​ 7,734 ​ 15,765 ​ Business optimization (a) ​ — ​ 3,508 ​ — ​ 4,058 ​ One-time non-recurring (b) ​ 11,577 ​ 604 ​ 15,320 ​ 968 ​ New business start-up costs (c) ​ — ​ 282 ​ — ​ 453 ​ Restructuring related (d) ​ (56) ​ 509 ​ 3,956 ​ 1,861 ​ Stock-based compensation expense ​ 2,018 ​ 150 ​ 3,826 ​ 716 ​ Transaction cost ​ ​ — ​ ​ 2,095 ​ ​ — ​ ​ 2,095 ​ Adjusted EBITDA ​ $ (11,454) ​ $ (3,815) ​ $ (24,992) ​ $ (2,513) ​ (a) Business optimization costs include employee retention costs, IT costs as well as consulting costs for certain projects. (b) Includes costs related to project costs and initiatives, as well as bank, legal and other fees in connection with the Company’s debt financing activities. During the three and six months ended June 30, 2022, the Company incurred (c) Includes costs to support the Company’s On Demand and AVOD offerings, along with costs related to the Company’s service and media network businesses. (d) Restructuring related costs include such items as employee severance charges. During the six months ended June 30, 2022, the Company incurred severance and related costs of

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share
Summary of calculation of EPS	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ Dollars in thousands, except per share amounts ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Basic and Diluted EPS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (65,000) ​ $ (34,785) ​ $ (105,874) ​ $ (61,980) ​ Less: net loss attributable to non-controlling interests ​ ​ (42,508) ​ ​ N/A ​ ​ (81,938) ​ ​ N/A ​ Net loss attributable to Redbox Entertainment Inc. — Basic and Diluted ​ $ (22,492) ​ ​ N/A ​ $ (23,936) ​ ​ N/A ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares of Class A common stock outstanding — Basic and Diluted ​ ​ 12,726,531 ​ ​ N/A ​ ​ 12,672,822 ​ ​ N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share of Class A common stock outstanding — Basic and Diluted ​ $ (1.77) ​ ​ N/A ​ $ (1.89) ​ ​ N/A ​
Schedule of anti-dilutive shares	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Public and private placement warrants ​ ​ 15,841,930 ​ ​ N/A ​ ​ 15,841,930 ​ ​ N/A ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Measurements
Schedule of Company's assets and liabilities that are measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, Dollars in thousands ​ Level ​ 2022 ​ 2021 Liabilities: ​ ​ ​ ​ Warrant Liability – Public Warrants 1 ​ $ 5,713 ​ $ 11,213 Warrant Liability – Private Placement Warrants 3 ​ ​ 2,734 ​ ​ 6,608 Total Warrant Liability ​ $ 8,447 ​ $ 17,821
Schedule of key inputs into the Monte Carlo simulation model for the Public Warrants and Private Placement Warrants	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Input ​ June 30, 2022 ​ ​ December 31, 2021 ​ Risk-free interest rate ​ 3.00 % ​ ​ 1.20 % Expected term (years) ​ 4.30 ​ ​ ​ 4.80 ​ Expected volatility ​ 21.4 % ​ ​ 31.4 % Stock price ​ $ 7.40 ​ ​ $ 7.41 ​
Schedule of changes in the fair value of warrant liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Private ​ Warrant Dollars in thousands ​ Public ​ Placement ​ Liabilities Valuation as of December 31, 2021 ​ $ 11,213 ​ $ 6,608 ​ $ 17,821 Exercise of warrants ​ ​ — ​ ​ (1,600) ​ ​ (1,600) Change in valuation inputs or other assumptions ​ (5,500) ​ (2,274) ​ (7,774) Fair value as of June 30, 2022 ​ $ 5,713 ​ $ 2,734 ​ $ 8,447

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies
Summary of assets held under capital leases included in property and equipment, net	​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ June 30, 2022 ​ December 31, 2021 Gross property and equipment $ 11,051 ​ $ 11,380 Accumulated depreciation ​ (8,273) ​ (7,285) Net property and equipment ​ $ 2,778 ​ $ 4,095
Summary of future minimum lease payments under operating leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ Total ​ 2022 ​ 2023 Minimum estimated movie content commitments $ 34,833 $ 24,754 $ 10,079

Related-Party Transactions (Tab

Related-Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2022
Related Party Transactions
Summary of the amounts due to from such related parties	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, Dollars in thousands 2022 2021 Due from related parties, net ​ $ 4,247 ​ $ 3,813 Due to related parties, net ​ $ 74 ​ $ 74

Additional Supplemental Cash _2

Additional Supplemental Cash Flow Financial Information (Tables)	6 Months Ended
	Jun. 30, 2022
Additional Supplemental Cash Flow Financial Information
Schedule of supplemental cash flow financial information	Cash, Cash Equivalents and Restricted Cash: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ Dollars in thousands 2022 2021 ​ Cash and cash equivalents ​ $ 9,636 ​ $ 14,320 ​ Restricted cash ​ 3,895 ​ 4,158 ​ Cash, cash equivalents and restricted cash ​ $ 13,531 ​ $ 18,478 ​ ​ Cash Interest and Taxes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended Six Months Ended ​ ​ June 30, ​ June 30, Dollars in thousands 2022 2021 2022 2021 Cash paid during the period for interest $ — $ — $ — $ — Cash paid during the period for income taxes, net $ — $ 640 $ — $ 731 ​ Non-cash Transactions ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, Dollars in thousands 2022 2021 Purchases of property and equipment financed by finance lease obligations $ 83 $ 28 Right-of-use assets obtained in exchange for new operating lease liabilities ​ $ 9,102 ​ $ — Purchases of property and equipment included in ending trade payables or accrued and other current liabilities $ 313 $ 223

Basis of Presentation (Details)

Basis of Presentation (Details)		6 Months Ended
	Mar. 29, 2022 USD ($) employee	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	May 10, 2022 USD ($)	Apr. 25, 2022 USD ($)	Apr. 15, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Oct. 20, 2017 USD ($)
Cash flows from operations		$ (49,389,000)	$ (16,081,000)
Accumulated deficit		(356,890,000)					$ (332,954,000)
Working capital		(77,200,000)
Severance and related costs	$ 3,800,000	3,800,000
Reduction in number of employees | employee	150
Decrease in annual operating costs	$ 13,100,000
Warrants outstanding		$ 8,447,000					$ 17,821,000
Revolving Credit Facility
Revolving credit facility permanently reduced portion						$ 10,600,000
Maximum borrowing capacity				$ 45,000,000	$ 50,000,000	$ 15,000,000		$ 30,000,000	$ 30,000,000
Revolving Credit Facility | H P S Investment Partners LLC
Exercise price of warrant | $ / shares						$ 0.0001
Warrants outstanding						$ 11,416,700

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	$ 310,631	$ 305,804
Accumulated depreciation	(278,114)	(265,180)
Property and equipment, net	32,517	40,624
Kiosks and components
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	190,422	190,496
Computers, servers, and software
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	104,127	99,123
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	4,354	4,129
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	676	676
Leased Vehicles
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	$ 11,052	$ 11,380

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	Jan. 01, 2022	Jun. 30, 2022	Jan. 01, 2021
Leases
Lease, Practical Expedients, Package [true false]	true
Lease, Practical Expedient, Use of Hindsight [true false]	true
Operating lease right-of-use assets (Note 3)		$ 7,502	$ 9,100
Operating lease liability		$ 7,718	$ 9,400

Leases - Components of lease co

Leases - Components of lease cost (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)
Leases
Lease term	4 years	4 years
Lease, Practical Expedient, Lessor Single Lease Component [true false]	false	false
Operating lease cost	$ 955	$ 1,987
Finance lease cost
Amortization of right-of-use assets	665	1,374
Interest on lease liabilities	28	58
Total finance lease cost	693	1,432
Short-term lease cost	58	116
Total lease cost	$ 1,706	$ 3,535

Leases - Supplemental cash flow

Leases - Supplemental cash flow information related to leases (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Leases
Operating cash flows from operating leases	$ 2,112
Financing cash flows from financing leases	$ 1,363
Weighted average remaining lease term Operating leases (in years)	3 years 1 month 6 days
Weighted average remaining lease term, Finance leases (in years)	1 year 2 months 12 days
Weighted average discount rate, Operating leases	9.25%
Weighted average discount rate, Finance leases	3.51%

Leases - Expected future paymen

Leases - Expected future payments relating to the Company's operating and finance lease liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jan. 01, 2021
Operating Leases
Six months ending June 30, 2022	$ 1,750
2023	3,073
2024	2,284
2025	1,681
Total lease payments	8,788
Less imputed interest	(1,070)
Total	7,718	$ 9,400
Finance Leases
Six months ending June 30, 2022	888
2023	983
2024	405
2025	159
Total lease payments	2,435
Total	$ 2,435

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill impairment	$ 0
Goodwill	147,523		$ 147,523		$ 147,523	$ 147,523
Amortization of Intangible Assets	17,900	$ 17,900	35,715	$ 35,716
Impairment of goodwill and intangible assets	0	$ 0	0	$ 0
Legacy Business
Goodwill [Line Items]
Goodwill	144,014		144,014		144,014	144,014
Digital Business
Goodwill [Line Items]
Goodwill	$ 3,509		$ 3,509		$ 3,509	$ 3,509

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Intangible asset (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 500,000	$ 500,000
Accumulated Amortization	(411,508)	(375,793)
Net Carrying Amount	$ 88,492	124,207
Contracts with retailers
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	7 years
Gross Carrying Amount	$ 370,000	370,000
Accumulated Amortization	(304,516)	(278,087)
Net Carrying Amount	$ 65,484	91,913
Trade name
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	7 years
Gross Carrying Amount	$ 60,000	60,000
Accumulated Amortization	(49,381)	(45,095)
Net Carrying Amount	$ 10,619	14,905
Contactable customer list
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	7 years
Gross Carrying Amount	$ 40,000	40,000
Accumulated Amortization	(32,921)	(30,063)
Net Carrying Amount	$ 7,079	9,937
Developed technology
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	7 years
Gross Carrying Amount	$ 30,000	30,000
Accumulated Amortization	(24,690)	(22,548)
Net Carrying Amount	$ 5,310	$ 7,452

Accrued and Other Current Lia_3

Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accrued and Other Current Liabilities
Accrued payroll and other related expenses	$ 16,416	$ 23,901
Accrued revenue share	10,954	11,786
Deferred revenue	9,476	9,553
Other	18,805	12,515
Total accrued and other current liabilities	$ 55,651	$ 57,755

Debt - Summary of debt (Details

Debt - Summary of debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt outstanding	$ 380,973	$ 325,389
Less: Unamortized debt issuance costs	(5,765)	(3,823)
Total debt, net	375,208	321,566
Portion due within one year	49,730	34,211
Total long-term debt, net	325,478	287,355
Term B Facility
Debt Instrument [Line Items]
Total debt outstanding	271,562	271,562
Term Loan Facility
Debt Instrument [Line Items]
Paid-In-Kind Interest	45,884	31,480
Revolving Credit Facility
Debt Instrument [Line Items]
Paid-In-Kind Interest	3,846	2,731
Total debt outstanding	53,103	15,000
Union Revolving Credit Facility
Debt Instrument [Line Items]
Total debt outstanding	$ 6,578	$ 4,616

Debt - Credit Agreements (Detai

Debt - Credit Agreements (Details) - USD ($) $ in Millions	Oct. 20, 2017	May 10, 2022	Apr. 25, 2022	Apr. 15, 2022	Dec. 31, 2020
Term B Facility
Debt Instrument [Line Items]
Aggregate principal amount	$ 425				$ 425
Term of debt	5 years
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 30	$ 45	$ 50	$ 15	$ 30
Term of debt	5 years

Debt - Term Loan and Amendment

Debt - Term Loan and Amendment Agreement (Details) - USD ($) $ in Millions	May 16, 2021	Sep. 07, 2018	Oct. 20, 2017	Jun. 30, 2022	May 10, 2022	Apr. 25, 2022	Apr. 15, 2022	Dec. 31, 2020
Debt Instrument [Line Items]
Dividends to equity holders			$ 160
Term B Facility
Debt Instrument [Line Items]
Retirement of existing debt outstanding			280
Cost associated with debt			19.5
Write-off unamortized deferred financing costs			21.7
Aggregate principal amount			425					$ 425
Term Loan B-1 facility
Debt Instrument [Line Items]
Cost associated with debt		$ 3.7
Dividends to equity holders		115
Aggregate principal amount		85.8						85.8
Payment of one or more restricted payments to shareholders		$ 115
Number of business days within which dividend was paid		5 days
Revolving Credit Facility
Debt Instrument [Line Items]
Retirement of existing debt outstanding	$ 15
Maximum borrowing capacity			30		$ 45	$ 50	$ 15	$ 30
Remaining borrowing capacity				$ 21
Apollo Global Securities, LLC | Term B Facility
Debt Instrument [Line Items]
Cost associated with debt			$ 4.6

Debt - Credit Agreement Amendme

Debt - Credit Agreement Amendments (Details) - USD ($) $ in Millions						6 Months Ended	12 Months Ended
	Apr. 15, 2022	May 16, 2021	Jan. 29, 2021	Dec. 29, 2020	Oct. 20, 2017	Jun. 30, 2022	Dec. 31, 2021	Jul. 01, 2022	May 10, 2022	Apr. 25, 2022	Dec. 31, 2020
Union Revolving Credit Facility
Debt Instrument [Line Items]
Term of debt				4 years
Maximum borrowing capacity				$ 20
Borrowings outstanding						$ 6.6	$ 4.6
Commitment fee (as a percent)				0.50%
Borrowing interest rate						4.40%	4.25%
Line of credit facility, decrease in revolving commitment	$ 10.6
Remaining borrowing capacity									$ 2.8
Union Revolving Credit Facility | Federal funds rate
Debt Instrument [Line Items]
Spread on variable rate				1%
Union Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Spread on variable rate				1%
Borrowing interest rate				0.50%
Senior Facilities
Debt Instrument [Line Items]
Repayment of debt		$ 50
Commitment fee (as a percent)			0.50%
Borrowing interest rate						9.80%	9.25%
Senior Facilities | Federal funds rate
Debt Instrument [Line Items]
Interest rate, floor			0.50%
Senior Facilities | LIBOR
Debt Instrument [Line Items]
Spread on variable rate			1%
Interest rate, floor			1%
Eurocurrency Borrowings
Debt Instrument [Line Items]
Borrowing interest rate			7.25%
Borrowing interest rate, if PIK interest paid			8.25%
ABR Borrowings
Debt Instrument [Line Items]
Borrowing interest rate			6.25%
Borrowing interest rate, if PIK interest paid			7.25%
Revolving Credit Facility
Debt Instrument [Line Items]
Term of debt					5 years
Maximum borrowing capacity	$ 15				$ 30				45	$ 50	$ 30
Events of default grace period	5 days
Repayment of debt		15
Additional aggregate financing under the Credit Agreement	$ 50								$ 35
Remaining borrowing capacity						$ 21
Revolving Credit Facility | Subsequent event
Debt Instrument [Line Items]
Additional aggregate financing under the Credit Agreement								$ 45
Term loan B-2 facility | New Outerwall
Debt Instrument [Line Items]
Aggregate principal amount			$ 25
Term Loan B and the Term Loan B-1
Debt Instrument [Line Items]
Repayment of debt		$ 35

Debt - Dividend Restrictions an

Debt - Dividend Restrictions and Interest Rates and Fees (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2018
Debt Instrument [Line Items]
Maximum dividends payments			$ 1,030
Senior Facilities
Debt Instrument [Line Items]
Borrowing interest rate	9.80%	9.25%

Debt - Amortization and Prepaym

Debt - Amortization and Prepayments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Required minimum principal amortization payments
Total	$ 380,973	$ 325,389
Capital stock of the first-tier foreign subsidiaries pledged (as a percent)	65%
Senior Facilities
Required minimum principal amortization payments
2022	$ 45,884
2024	271,562
Total	$ 317,446

Debt - Letters of Credit (Detai

Debt - Letters of Credit (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Oct. 31, 2021
Standby Letters of Credit
Debt Instrument [Line Items]
Term of debt	1 year
Cash-collateralized (as a percent)	105%
Cash-collateralized through restricted cash balance	$ 3.1	$ 3.4
Letter of Credit [Member]
Debt Instrument [Line Items]
Line of credit			$ 0.8
Restricted cash	$ 3.9	$ 4.2

Interest Rate Derivatives - Nar

Interest Rate Derivatives - Narratives (Details) - Interest rate swap agreement $ in Millions	Oct. 22, 2018 USD ($)
Derivative [Line Items]
Term of agreement	3 years
Fixed notional amount	$ 200
Fixed interest rate	3.0335%
Total interest rate	10.2835

Interest Rate Derivatives - Con

Interest Rate Derivatives - Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Interest rate swap agreement | Derivatives not designated as hedging instrument
Derivative [Line Items]
Interest and other income (expense), net	$ 32	$ 50

Segment Information and Geogr_3

Segment Information and Geographic Data (Details)	6 Months Ended
	Jun. 30, 2022 item segment
Segment Information and Geographic Data
Number of operating segments | segment	2
Number of self-service kiosks where consumers can rent or purchase new-release DVDs and Blu-ray DiscsTM	36,000
Number of linear channels	145

Segment Information and Geogr_4

Segment Information and Geographic Data - Summarized financial information by segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Net revenue	$ 65,994	$ 69,390	$ 129,221	$ 146,120
Adjusted EBITDA	(11,454)	(3,815)	(24,992)	(2,513)
Legacy Business
Segment Reporting Information [Line Items]
Net revenue	53,802	62,127	102,569	129,764
Adjusted EBITDA	(11,400)	(4,648)	(26,953)	(4,314)
Digital Business
Segment Reporting Information [Line Items]
Net revenue	12,192	7,263	26,652	16,356
Adjusted EBITDA	$ (54)	$ 833	$ 1,961	$ 1,801

Segment Information and Geogr_5

Segment Information and Geographic Data - Reconciliation of Adjusted EBITDA to (loss) income before income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Information and Geographic Data
Loss before income taxes	$ (64,912)	$ (46,419)	$ (105,760)	$ (82,893)
Depreciation and amortization	24,842	26,938	49,932	54,464
Interest and other (income) expense, net	15,077	8,518	7,734	15,765
Business optimization(a)		3,508		4,058
One-time non-recurring(b)	11,577	604	15,320	968
New business start-up costs(c)		282		453
Restructuring related(d)	(56)	509	3,956	1,861
Stock-based compensation expense	2,018	150	3,826	716
Transaction cost		2,095		2,095
Adjusted EBITDA	$ (11,454)	$ (3,815)	$ (24,992)	$ (2,513)

Segment Information and Geogr_6

Segment Information and Geographic Data - Business optimization costs (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Mar. 29, 2022	Jun. 30, 2022	Jun. 30, 2022
Segment Information and Geographic Data
Legal and advisory expenses		$ 7.7	$ 11
Severance and related costs	$ 3.8		$ 3.8

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net loss	$ (65,000)	$ (34,785)	$ (105,874)	$ (61,980)
Less: net loss attributable to non-controlling interests	(42,508)		(81,938)
Net loss attributable to Redbox Entertainment Inc. - basic	(22,492)		(23,936)
Net loss attributable to Redbox Entertainment Inc. - diluted	$ (22,212)		$ (23,656)
Denominator:
Weighted average shares of Class A common stock outstanding - basic	12,726,531		12,672,822
Weighted average shares of Class A common stock outstanding - diluted	12,726,531		12,672,822
Earnings per share of Class A common stock outstanding - basic	$ (1.77)		$ (1.89)
Earnings per share of Class A common stock outstanding - diluted	$ (1.75)		$ (1.87)

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Public and private placement warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	15,841,930	15,841,930

Shareholders' Equity - Preferre

Shareholders' Equity - Preferred Stock (Details)	Jun. 30, 2022 $ / shares shares
Stockholders' Equity
Preferred shares, shares authorized	1,000,000
Preferred shares, par value | $ / shares	$ 0.0001
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0

Shareholders' Equity - Common S

Shareholders' Equity - Common Stock - Non-controlling Interest (Details)	6 Months Ended
	Jun. 30, 2022 Vote $ / shares shares	Dec. 31, 2021 $ / shares shares	Oct. 22, 2021
Class of Stock [Line Items]
Stock exchange ratio	1
Redwood Holdco
Class of Stock [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	70.50%		72.20%
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized	500,000,000	500,000,000
Common stock, par value | $ / shares	$ 0.0001	$ 0.0001
Common shares, votes per share | Vote	1
Common stock, shares issued	13,685,098	13,685,098
Common stock, shares outstanding	13,685,098	13,685,098
Common Stock, Number Of Votes Per Share | Vote	1
Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized	100,000,000	100,000,000
Common stock, par value | $ / shares	$ 0.0001	$ 0.0001
Common shares, votes per share | Vote	1
Common stock, shares issued	32,770,000	32,770,000
Common stock, shares outstanding	32,770,000	32,770,000
Common Stock, Number Of Votes Per Share | Vote	1

Warrant Liability (Details)

Warrant Liability (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Class of Warrant or Right [Line Items]
Share price	$ 11.50	$ 11.50
Number of warrants exercised	1,001,803	1,001,803
Proceeds from exercise of warrants	$ 11,500	$ 11,520
Warrants and Rights Outstanding	$ 8,447	$ 8,447	$ 17,821
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right	1	1
Fair Value Adjustment of Warrants	$ 6,000	$ (7,774)
Public Warrants
Class of Warrant or Right [Line Items]
Exercise price of warrant	$ 11.50	$ 11.50
Warrant term	5 years	5 years
Redemption price per public warrant (in dollars per share)		$ 0.01
Minimum threshold written notice period for redemption of public warrants		30 days
Stock price trigger for redemption of public warrants (in dollars per share)		$ 18
Threshold trading days for redemption of public warrants		20 days
Threshold consecutive trading days for redemption of public warrants		30 days
Class of Warrant or Right, Outstanding	10,779,430	10,779,430
Private Placement Warrants
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	5,062,500	5,062,500

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of warrants exercised	1,001,803
Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	$ 5,700	$ 11,200
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	8,447	17,821
(Level 1) | Recurring | Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	5,713	11,213
(Level 3) | Recurring | Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	$ 2,734	$ 6,608

Fair Value Measurements - Monte

Fair Value Measurements - Monte Carlo (Details) - Subsequent Measurement	Jun. 30, 2022 $ / shares Y	Dec. 31, 2021 Y $ / shares
Risk-free interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	3	1.20
Expected term remaining (years)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input | Y	4.30	4.80
Expected volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	21.4	31.4
Stock price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input | $ / shares	7.40	7.41

Fair Value Measurements - Subse

Fair Value Measurements - Subsequent Measurement (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Adjustment of Warrants	$ 6,000	$ (7,774)
Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Valuation as of December 31, 2021		11,213
Change in valuation inputs or other assumptions		(5,500)
Fair value as of March 31, 2022	$ 5,713	$ 5,713
Price per warrant	$ 0.53	$ 0.53	$ 1.04
Liabilities	$ 5,700	$ 5,700	$ 11,200
Private Placement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Valuation as of December 31, 2021		6,608
Exercise of warrants		(1,600)
Change in valuation inputs or other assumptions		(2,274)
Fair value as of March 31, 2022	$ 2,734	$ 2,734
Price per warrant	$ 0.54	$ 0.54	$ 1.09
Liabilities	$ 2,700	$ 2,700	$ 6,600
Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Valuation as of December 31, 2021		17,821
Exercise of warrants		(1,600)
Change in valuation inputs or other assumptions		(7,774)
Fair value as of March 31, 2022	$ 8,447	$ 8,447

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Commitments and Contingencies
Rent expense, net of sublease income	$ 0.9	$ 1.1	$ 1.9	$ 2.2

Commitments and Contingencies -

Commitments and Contingencies - Assets held under capital leases are included in Property and equipment, net on the Consolidated Balance Sheets (Details) - Assets held under capital leases - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Gross property plant and equipment	$ 11,051	$ 11,380
Accumulated depreciation	(8,273)	(7,285)
Net property and equipment	$ 2,778	$ 4,095

Commitments and Contingencies_3

Commitments and Contingencies - Total estimated movie content commitments (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Minimum estimated movie content commitments
2022	$ 24,754
2023	10,079
Contractual Obligation, Total	$ 34,833

Commitments and Contingencies_4

Commitments and Contingencies - Other Matters (Details) - USD ($) $ in Millions		3 Months Ended
	Jul. 13, 2022	Jun. 30, 2022
Class of Stock [Line Items]
Financial advisory services		$ 2.5
Subsequent event | Class A Common Stock
Class of Stock [Line Items]
Shares issued for settlement of financial advisory services	500,000

Income Taxes - Rates (Details)

Income Taxes - Rates (Details) - item	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Taxes.
Effective Income Tax Rate Reconciliation, Percent	(0.10%)	25.10%	(0.10%)	25.20%
Number of state examination finalized	0		0

Related-Party Transactions - Su

Related-Party Transactions - Summary of Related Parties (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Related Party Transactions
Due from related parties, net	$ 4,247	$ 3,813
Due to related parties, net	$ 74	$ 74

Related-Party Transactions - Na

Related-Party Transactions - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Related Party Transactions
Related party revenues	$ 5.7	$ 3.5	$ 11.3	$ 6.4

Additional Supplemental Cash _3

Additional Supplemental Cash Flow Financial Information (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Additional Supplemental Cash Flow Financial Information
Cash and cash equivalents	$ 9,636	$ 14,320
Restricted cash	3,895	4,158
Cash, cash equivalents and restricted cash	$ 13,531	$ 18,478	$ 10,352	$ 8,927

Additional Supplemental Cash _4

Additional Supplemental Cash Flow Financial Information - Cash Interest and Taxes (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Additional Supplemental Cash Flow Financial Information
Cash paid during the period for income taxes, net	$ 640	$ 731

Additional Supplemental Cash _5

Additional Supplemental Cash Flow Financial Information - Non Cash Transactions (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Additional Supplemental Cash Flow Financial Information
Purchases of property and equipment financed by finance lease obligations	$ 83	$ 28
Right-of-use assets obtained in exchange for new operating lease liabilities	9,102
Purchases of property and equipment included in ending trade payables or accrued and other current liabilities	$ 313	$ 223

Subsequent Events (Details)

Subsequent Events (Details)			6 Months Ended
	Aug. 11, 2022 $ / shares shares	Aug. 10, 2022 $ / shares shares	Jun. 30, 2022 $ / shares shares	Dec. 31, 2021 $ / shares
Subsequent Event [Line Items]
Stock exchange ratio			1
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | shares			1
Public Warrants
Subsequent Event [Line Items]
Exercise price of warrant			$ 11.50
Stock price trigger for redemption of public warrants (in dollars per share)			18
Class A Common Stock
Subsequent Event [Line Items]
Common stock, par value			$ 0.0001	$ 0.0001
Subsequent event | Public Warrants
Subsequent Event [Line Items]
Stock exchange ratio		0.087
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | shares	11.494	1
Exercise price of warrant	$ 132.18	$ 11.50
Stock price trigger for redemption of public warrants (in dollars per share)	206.90	$ 18
Subsequent event | CSSE | Class A Common Stock
Subsequent Event [Line Items]
Common stock, par value	$ 0.001
Stock exchange ratio	0.087