Grom Social’s Top Draw Animation Secures $615K in New Assignments

Rhea-AI Summary

Grom Social Enterprises (NASDAQ: GROM) announced that its subsidiary, Top Draw Animation, has secured $615K in new animation assignments, set to boost production output starting Q4. With over 20 years of experience, Top Draw has established a global reputation for premium animation services. The studio is under the leadership of new executives, Russell Hicks and Jared Wolfson, who aim to maintain Top Draw's status as a world-class animation provider. Grom continues to enhance its offerings in children's entertainment and digital safe spaces.

Positive

• Secured an additional $615K in animation assignments.
• Top Draw's reputation as a reliable source of premium animation services.
• Leadership changes aiming to enhance production output and quality.

Negative

• None.

Grom Subsidiary Continues Delivers Premium Animation Production Services for Global Entertainment Content Suppliers

BOCA RATON, Fla., Sept. 28, 2022 (GLOBE NEWSWIRE) -- Grom Social Enterprises, Inc. (NASDAQ: GROM) today announced that Top Draw Animation, the company’s Philippines-based animation production studio, has secured an additional $615K in animation assignments that will enhance the studio’s output. Top Draw has built a global reputation as a reliable source of premium animation services since opening over 20 years ago. The new assignments, which will commence in Q4, were disclosed today by CEO of Grom Social Enterprises, Inc., Darren Marks. Investor relations information on Grom Social Enterprises, Inc. is available at https://investors.gromsocial.com

Top Draw – which does not routinely publicly disclose clients or specific projects for competitive reasons and client privilege, brings even more production business to Top Draw’s 400+ animation pros. The studio, based in Manila, continues its increased output under direction of the company’s two recently-installed leaders – TDA President Russell Hicks, who earlier led Nickelodeon’s animation and live action, as well as Top Draw EVP, Jared Wolfson, both of whom assumed their new roles at Top Draw last fall.

“The production team at Top Draw knows how to perfectly execute a client’s vision to craft premium content seen all over the word,” explains Hicks. “We are proud to continue our legacy of truly being a world-class animation production leader and these newest assignments are a great testament to the studio’s professional and relentless attention to detail.”

Recognized throughout entertainment for its premium production services, Top Draw was acquired by Grom in 2016. The studio serves as a centerpiece 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. 

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. For investor relations information, please visit: www.investors.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.

Media Contact:
Marianne Romano
Grom Social Enterprises, Inc./Top Draw Animation
 +1-818-681-0849
 Media.contact@gromsocial.com

Investor Relations Contact:
Colette Eymontt
 TraDigital IR
 +1-832-331-2399
 colette@tradigitalir.com

FAQ

What is the significance of Grom's $615K announcement for Top Draw Animation?

The $615K in new assignments will enhance production capabilities and foster growth for Top Draw Animation.

When will the new animation assignments commence for Top Draw Animation?

The new animation assignments are scheduled to commence in Q4.

Who are the new leaders at Top Draw Animation?

The new leaders are Russell Hicks, the President, and Jared Wolfson, the Executive Vice President.

What role does Top Draw Animation play in Grom Social Enterprises?

Top Draw Animation is a key subsidiary that provides premium animation services for global entertainment content providers.