Grom Social's Top Draw Animation Inks $950k in Animation Production Assignments

Rhea-AI Summary

Grom Social Enterprises, Inc. (NASDAQ: GROM) announced its subsidiary, Top-Draw Animation (TDA), signed a contract with an international programming supplier, expected to generate an additional $950,000 in revenue. This deal strengthens TDA's production capabilities in Manila, known for delivering quality animated content for over 20 years. Top Draw aims to enhance its animation offerings as they seek to engage viewers effectively. The company continues to focus on providing safe digital environments for children through its various subsidiaries.

Positive

• Agreement with an international supplier expected to generate $950,000 in additional revenue.
• Top-Draw Animation has a strong reputation with over 20 years of experience in animation production.
• Increased demand for premium animated programming indicates potential for future growth.

Negative

• None.

BOCA RATON FL, Feb. 02, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Grom Social Enterprises, Inc. (NASDAQ: GROM) today announced its wholly-owned subsidiary, Top-Draw Animation (TDA), has executed an agreement with an international programming supplier that will generate an additional $950,000 in business. The work, announced today by Top Draw’s President, Russell Hicks, will further bolster animation production to TDA’s bustling studio in Manila, the Philippines, where it produces animated series, movies, specials and short-form content on behalf of major international programming suppliers, studios and networks. 

Recognized throughout entertainment communities for its premium production services, Top Draw has produced animated content for over 20 years and was acquired by Grom in 2016. Top Draw serves as a centerpiece of Grom’s offerings, which also includes safe social media for kids, web filtering utilized in school districts nationwide and original family entertainment through Curiosity Ink Media. In 2021, Top Draw welcomed new leadership with the addition of Hicks and Jared Wolfson, the studio’s Executive Vice President. 

“More and more, programmers rely on Top Draw to produce their premium animated programming,” explains Hicks. “Our entire team came into 2022 energized to deliver even more one-of-a-kind animation content on behalf of all of our clients, whose success depends upon showcasing entertainment that keeps viewers engaged and coming back for more.”

About Grom Social Enterprises, Inc. 

Grom Social Enterprises, Inc. is a growing social media platform and original content provider of entertainment for children under 13 years of age, which provides safe and secure digital environments for kids that can be monitored by their parents or guardians. The Company has several operating subsidiaries, including Grom Social, which delivers its content through mobile and desktop environments (web portal and apps) that entertain children, let them interact with friends, access relevant news, and play proprietary games while teaching them about being good digital citizens and Curiosity Ink Media, a global media company that develops, acquires, builds, grows, and maximizes the short, mid & long-term commercial potential of Kids & Family entertainment properties and associated business opportunities. The Company owns and operates Top Draw Animation, which produces award-winning animation content for some of the largest international media companies in the world. Grom also includes Grom Educational Services, which provides web filtering services for K-12 schools, government and private businesses. For more information, please visit gromsocial.com. 

Forward-Looking Statements 

This press release contains statements, which may constitute “forward-looking statements.” Those statements include statements regarding the intent, belief, or current expectations of Grom and members of its management team as well as the assumptions on which such statements are based. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that may cause actual results to differ from those anticipated are discussed throughout the Company’s reports filed with Securities and Exchange Commission which are available at www.sec.gov as well as the Company’s web site at www.gromsocial.com. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. 

For Grom Social Enterprises/Curiosity Ink Media 

Marianne Romano +1-818-681-0849 Media.contact@gromsocial.com

For Investor Relations 

John McNamara TraDigital IR +1-917-658-2602 john@tradigitalir.com

FAQ

What recent contract did Grom Social Enterprises announce?

Grom announced a contract for Top-Draw Animation to generate an additional $950,000 in revenue.

How long has Top-Draw Animation been in the business?

Top-Draw Animation has been producing animated content for over 20 years.

What is the expected impact of the new agreement on Grom's revenue?

The new agreement is expected to add $950,000 to Grom's revenue.

Where is Top-Draw Animation located?

Top-Draw Animation is located in Manila, Philippines.

What does Grom Social Enterprises focus on?

Grom focuses on creating safe social media platforms and original entertainment content for children under 13.