Palm Beach, FL – April 21, 2022 – FinancialNewsMedia.com News Commentary – The Global animation industry is offering enormous growth opportunities for the manufacturers, vendors, customers in developed as well as emerging economies worldwide. Animation involved the practice of controlling a series of the still images by showing them in order at a certain pace, producing the illusion of the action of images. Recent animation includes computer generated imagery. In the CGI animated data are created or programmed using software as well as animation tools. Currently, animation has a wide variety of technologies and platforms, for example television and video, digital platforms, entertainment, and games. The use of cartoon characters in animation and animated films has grown over the last decade. Most animation films have quickly and slowly achieved recognition and success in new years. Rapid advancements across communication and technology sectors across the globe are anticipated to drive growth of the global animation market. Addition to this, budding media and entertainment business is also boosting growth of the global market. A report from Precedence Research projected that the global animation market size is expected to hit around US$ 642.5 bn by 2030, growing at a CAGR of 5.2% from 2021 to 2030. Active Companies in the markets today include Grom Social Enterprises, Inc. (NASDAQ: GROM), Netflix, Inc. (NASDAQ: NFLX), The Walt Disney Company (NYSE: DIS), Paramount Global (NASDAQ: PARA), Scholastic Corporation (NASDAQ: SCHL).
The Precedence Research report said: “Communication and the television industries are growing at the rapid pace. The technological advancements in the communication and the television industry are major driver for the global animation market growth. Addition to this, in the recent movies, the adoption of the visual effect technology is increasing which is projected to have positive effect on the global industry growth. Increasing entertainment and the media industry is anticipated to create numerous opportunities for the growth industry growth in the near future. Increasing base of the video viewers owing to increased usage of smartphones, internet penetration, easily accessible multimedia devices and growth in the usage of the tablets are among major factors anticipated to augment the growth of global animation industry over the forecast period of time… the arrival of AI and VR will create huge opportunities in the global industry.”
Grom Social Enterprises, Inc. (NASDAQ: GROM) BREAKING NEWS: Grom Social’s Top Draw Animation Secures Additional $1.5MM in New Animation Production Assignments – Grom Social Enterprises, Inc’s wholly-owned Manila, Philippines subsidiary, Top Draw Animation, has secured approximately $1,500,000 in new animation production business, as was announced today by Top Draw’s President, Russell Hicks. Top Draw has been a reliable source of premium animation production services, including animated series, movies, specials and short-form content, for several global entertainment providers for over 20 years.
The latest production work, from whom Top Draw does not disclose due to competitive reasons and client privilege, comes on the heels of other new assignments that the company expressed in announcements made earlier this year. The studio employees over 400 animation professionals and continues its increased output as pandemic concerns ease and under direction of the company’s new leadership – the aforementioned Hicks, who earlier in his career led Nickelodeon’s animation and live action direction, as well as Executive Vice President, Jared Wolfson, both of whom assumed their new roles last fall.
“More and more, programmers are turning to Top Draw to ensure their content is executed by professionals dedicated to delivering the best possible animation,” explains Hicks. “From day one, I was impressed by the loving attention to detail, and passion for animation all of our employees share and we’re excited to serve as a go-to studio for entertainment companies that expect the absolute best.”
Recognized throughout entertainment for its premium production services, Top Draw was acquired by Grom in 2016. The studio serves as a vital component of Grom’s offerings, which also include safe social media for kids, web filtering utilized in school districts nationwide and original family entertainment through Curiosity Ink Media, which Hicks and Wolfson also lead. CONTINUED… For more information about Grom Social Enterprises please visit https://gromsocial.com/
Other recent developments in the markets include:
Netflix, Inc. (NASDAQ: NFLX) has recently released its first-quarter 2022 financial results by posting them to its website. Please visit the Netflix investor relations website at http://ir.netflix.net to view the Q1’22 financial results and letter to shareholders.
It read in part: “Our plan is to reaccelerate our viewing and revenue growth by continuing to improve all aspects of Netflix – in particular the quality of our programming and recommendations, which is what our members value most. On the content side, we’re doubling down on story development and creative excellence, which we see reflected in big Q1’22 TV hits like Bridgerton (627 million hours viewed for season 2, our biggest English language series in our history) and Inventing Anna (512m hours viewed) – both from our extremely successful partnership with Shonda Rhimes – and films like Tinder Swindler (166m hours viewed, our biggest documentary film ever released) and The Adam Project (233m hours viewed), which come on the back of our Q4 hits Red Notice and Don’t Look Up. On the product side, we recently launched “double thumbs up” so members can better express what they truly love versus simply like – enabling us to continue to improve our personalized recommendations and overall experience.
The Walt Disney Company (NYSE: DIS) recently announced that it will discuss fiscal second quarter 2022 financial results via a live audio webcast beginning at 4:30 p.m. ET / 1:30 p.m. PT on Wednesday, May 11, 2022.
Results will be released after the close of regular trading on May 11, 2022.
To listen to the webcast, please visit www.disney.com/investors. The webcast presentation will be archived.
Paramount Global (NASDAQ: PARA) recently announced that on Tuesday, May 3, 2022, it will issue financial results for the first quarter ending March 31, 2022. The company will conduct a conference call at 8:30 a.m. (ET), following the release of its earnings materials.
A live audio webcast will be available on Paramount’s Investor Relations homepage at ir.paramount.com beginning at 8:30 a.m. (ET) on May 3.
The conference call can also be accessed by dialing 844-200-6205 (domestic) or 929-526-1599 (international) using access code 041459. Please call five minutes in advance to ensure that you are connected prior to the call.
Scholastic Corporation (NASDAQ: SCHL), the global children’s publishing, education and media company, recently reported financial results for the Company’s fiscal third quarter ended February 28, 2022. The Company recorded a 24% increase in third quarter revenues, a seasonally lower revenue period in which it typically records an operating loss.
Peter Warwick, President and Chief Executive Officer, said, “Strong demand for our products resulted in a 24% increase in revenues in the third quarter with the biggest impact coming from higher than expected revenue per fair from book fairs, where fair count continues to approximate 70% of pre-pandemic levels. As parents and teachers around the world seek to close the learning gaps created by the disruption of in-person learning, demand for our proven educational products is getting stronger. Whether it’s from our core Trade backlist titles, Graphix™ series, engaging educational materials or the exciting way we deliver book fairs to schools, our loyal customers are turning to Scholastic to reinforce the love of reading in children.”
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