Grom Social's Top Draw Animation Subsidiary Ramps Up Production as Demand for Premium Content Grows in Post-Pandemic World
Slate of Projects from Global Entertainment Brands Entrust Top Draw Animation with their Most Iconic and Beloved Intellectual Properties
Boca Raton, FL, June 18, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Grom Social Enterprises, Inc. (NASDAQ:GROM), the emerging entertainment and social media company for kids and families, today announced that its wholly-owned subsidiary, Top Draw Animation, is ramping up production at its state-of-the-art animation studio in the Philippines to address the growing demand for the animated content it produces on behalf of several leading global entertainment companies. Additionally, as the entertainment industry reopens and the global pandemic slows, Top Draw has reinstated its animators training program – suspended during the crisis – to cultivate the next generation of animation pros and meet the increase in animation production.
Top Draw Animation is a centerpiece of Grom Social Enterprises, Inc., which also operates: Grom Social, a safe social media app for kids under 13; Grom Educational, a supplier of web filtering solutions; and Curiosity Ink Media, a producer and developer of original kid-friendly content, which Grom recently entered into an agreement to acquire. Top Draw Animation continues its upward climb after its parent company posted Q-1 revenues and gross profits up 45% and 58%, respectively, over last year.
Top Draw is a leading supplier of premium animation seen all over the world and programming information for the content it produces is shared only by its clients. For Top Draw, unused production capacity remains for the second half of 2021, which Grom expects it to fulfill with the renewal of existing projects/series, as well as new animation assignments. The renewed demand for animation production signifies the return to normalcy following months of slowed-down content production and orders.
“Top Draw’s commitment to delivering top-shelf production for audiences everywhere is reflected in both our first quarter growth and the increasing demand for premium animation, which our clients heavily rely upon to entertain families,” explains Russell Hicks, Top Draw’s newly installed President and Nickelodeon veteran. “Top Draw couldn’t be happier to bring our state-of-the-art studio back into full swing and deliver top shelf content which brings much needed joy to audiences everywhere.”
Darren Marks, CEO of Grom, adds, “The combination of new Grom executives, re-energized animation production, growing demand for safe socialmedia for kids, requisite educational web-filtering and the influx of original IP from Curiosity Ink Media, make Grom Social Enterprises perfectly poised to be an important pipeline for escapist, brand-safe entertainment for the whole family. Collectively and individually, these assets serve as a gateway to meaningful revenue opportunities and attractive gross margins to deliver long-term, sustainable value for our shareholders.”
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