Kartoon Studios (NYSE AMERICAN: TOON) announces a
significant increase in content production and development planned
for 2024 for the Company’s
Kartoon Channel!,
Frederator Networks,
Mainframe
Studios, as well as major broadcasters and streamers,
including Netflix, Disney Channel, and others. The Company has also
appointed
Gregg Goldin, former creative executive
at DreamWorks Animation, Cartoon Network and MTV, to the newly
created position of Senior Vice President, Development &
Production.
Kartoon Studios kicks off 2024 with a roster of properties in
production and/or development, including Stan Lee’s Cosmic
Crusaders and three series for Frederator Networks: Land of Boggs;
Chikn’ Nuggit, in partnership with BuzzFeed Animation
Lab; and an adult animated comedy series in partnership
with Wheelhouse DNA, starring internet sensation Adam
W, who was named one of “The 20 Most Influential Creators”
by Rolling Stone Magazine with over 50 million followers across his
channels.
Goldin joins Kartoon Studios with over twenty years of
experience in animation and live-action content development and
production, overseeing highly successful movies and series across
multiple genres, including DreamWorks Animation’s blockbuster
franchises How to Train Your Dragon, Kung Fu Panda, and Fast &
Furious. In this new role, Goldin will be responsible for heading
up development and production for both new and original IP to
deliver to the marketplace. Goldin will report jointly to Kartoon
Studios’ Chairman & CEO Andy Heyward and COO
Michael Jaffa.
Brian Parisi, Chief Financial Officer,
commented, “We have significantly streamlined our operations and
have built a highly scalable infrastructure. With the increase in
content production and other initiatives to be announced in early
2024 to drive revenue, we are well on our way to achieving our goal
of sustained profitability. It should be noted that our streaming
service Kartoon Channel! achieved break even in 2023, only three
years after launch, and is expected to move to profitability in
2024, alongside Netflix. Kartoon Channel! continues to dominate the
User Rankings in the Apple app store among all services delivering
kids’ content.”
Andy Heyward noted, “As we enter a significant
phase of growth in our development and production pipeline this
year, with productions in the works for our Kartoon Channel! and
Frederator Networks, we are thrilled to welcome a creative
executive with Gregg’s pedigree to drive our content business. He
has managed the development of some of the industry’s most
successful franchises while at DreamWorks and Cartoon Network, and
he will be an invaluable asset as we continue to build our IP
catalog for global distribution. As Kartoon Channel achieved
breakeven this last year, and drives to enhance profitability in
2024, Gregg will be pivotal in fueling the service with top tier
content, as he did so successfully for DreamWorks Animation at
Netflix.”
“Andy has made enormous contributions to the animation industry
over the years, and I’m thrilled to work with him and the team at
Kartoon Studios as we significantly ramp up over the next couple of
years with new IP coming to market,” stated
Goldin.
Goldin joins Kartoon Studios following a ten-year tenure at
DreamWorks Animation where he served as Vice President of Current
Series, overseeing multiple series in production. In this capacity,
he also generated and pitched show presentations to marketing,
franchise partners, publishers, retail buyers and
network/streamers, facilitating new series launches and providing
opportunities for consumer product programs.
Prior to DreamWorks Animation, Goldin guided the development and
production of live-action and animated series and pilots at Cartoon
Network, as well as a slate of original made-for-TV movies for
seven years as Director of Development, Current & Original
Series. Projects included two Ben 10 live-action features and
Scooby-Doo prequel movies, among others. Previously, he served as
Director of Development at MTV Films, contributing to the
development and production of a robust slate of feature films,
including Crossroads (Britney Spears), Jackass: The Movie, Save the
Last Dance (Julia Stiles), Aeon Flux (Charlize Theron) and
Fighting Temptations (Beyoncé).
About Kartoon Studios Kartoon Studios (NYSE
AMERICAN: TOON) is a global end-to-end creator, producer,
distributor, marketer, and licensor of high-quality, positive
entertainment brands for children. The Company’s IP portfolio
includes original animated content, including the Stan Lee brand,
Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger,
on Kartoon Channel!; Shaq’s Garage, starring Shaquille O’Neal, on
Kartoon Channel!, and a broad distribution platform, Rainbow
Rangers on Kartoon Channel! and Netflix; the Netflix Original,
Llama Llama, starring Jennifer Garner, and Warren Buffett’s Secret
Millionaires Club, promoting lessons in financial literacy for
children. The Company’s growing streaming platform, Kartoon
Channel, is the top user-ranked children’s distribution platform in
the Apple app store.
In 2022, Kartoon Studios acquired Canada’s WOW! Unlimited Media
and made a strategic investment becoming the largest shareholder in
Germany’s Your Family Entertainment AG (FRA:RTV), one of Europe’s
leading distributors and broadcasters of high-quality programs for
children and families.
The Company’s wholly owned digital distribution network, Toon
Media Group, consists of Kartoon Channel!, Kartoon Channel!
Worldwide, Frederator Network, and Ameba. Kartoon Channel! is a
globally distributed entertainment platform with full penetration
of the U.S. television market and international expansion underway
with launches in key markets around the world, including Germany,
India, Australia, New Zealand, South Africa & Sub-Sahara Africa
and more. Kartoon Channel! and Ameba are available across multiple
platforms, including Apple iOS, Apple TV, Android Mobile, Android
TVWeb, Amazon Prime Video, Amazon Fire, Roku, Pluto TV, Comcast,
Cox, Dish, Sling TV, Tubi, Xumo, Samsung and LG Smart TVs, and
YouTube. Frederator Network owns and operates the largest global
animation network on YouTube, with channels featuring over 2000
exclusive creators and influencers, garnering on average over a
billion views every month.
For additional information, please visit
www.kartoonstudios.com.
About FrederatorFrederator is a pioneer in
streaming video and a leading independent producer of animation for
streaming services, linear television, and online video platforms,
owning and operating the largest global animation network on
YouTube, with channels that boast over 2000 exclusive creators and
influencers and garnering billions of views annually. Over the past
20 years, Frederator Studios has produced 19 series and more than
250 short films for and with partners including Netflix, Amazon,
Google, Nickelodeon, Nick Jr., Sony Pictures Animation, and Cartoon
Network, including Butch Hartman’s The Fairly OddParents on
Nickelodeon, Pendleton Ward’s Adventure Time on Cartoon Network and
Natasha Allegri’s Bee and PuppyCat on Netflix. Frederator is a
Kartoon Studios (NYSE AMERICAN: TOON) company and has offices in
Burbank, CA and New York, NY.
Forward-Looking Statements: Certain statements
in this press release constitute "forward-looking statements"
within the meaning of the federal securities laws. Words such as
"may," "might," "will," "should," "believe," "expect,"
"anticipate," "estimate," "continue," "predict," "forecast,"
"project," "plan," "intend" or similar expressions, or statements
regarding intent, belief, or current expectations, are
forward-looking statements. While the Company believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release.
These forward looking statements are based upon current estimates
and assumptions and are subject to various risks and uncertainties,
including without limitation, our ability to generate revenue or
achieve profitability; our ability to obtain additional financing
on acceptable terms, if at all; the potential issuance of a
significant number of shares, which will dilute our equity holders;
fluctuations in the results of our operations from period to
period; general economic and financial conditions; our ability to
anticipate changes in popular culture, media and movies, fashion
and technology; competitive pressure from other distributors of
content and within the retail market; our reliance on and
relationships with third-party production and animation studios;
our ability to market and advertise our products; our reliance on
third-parties to promote our products; our ability to keep pace
with technological advances; our ability to protect our
intellectual property and those other risk factors set forth in the
“Risk Factors” section of the Company’s most recent Annual Report
on Form 10-K and in the Company's subsequent filings with the
Securities and Exchange Commission (the "SEC"). Thus, actual
results could be materially different. The Company expressly
disclaims any obligation to update or alter statements whether as a
result of new information, future events or otherwise, except as
required by law.
MEDIA CONTACT:pr@gnusbrands.com
INVESTOR RELATIONS
CONTACT:
ir@gnusbrands.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/bb4380ab-5a44-4634-8a3a-b47eec3a9ed8
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