GROM SOCIAL ENTERPRS WTS - GROMW STOCK NEWS

Grom Social Enterprises, Inc. (NASDAQ: GROM) celebrated its original brand ambassador, Caroline Marks, as she won the gold medal in women's surfing for Team USA at the 2024 Paris Olympics. Caroline's experience with cyberbullying inspired the creation of Grom's safe social media platform for kids. The company announced the launch of a newly overhauled app with enhanced safety features in the Apple Store, with an Android version to follow.

Grom Social, founded in 2012, remains committed to providing a safe social media experience for children under 13. The company has expanded its offerings through a portfolio of services, including Top Draw Animation and Curiosity Ink Media. Grom Social Enterprises aims to deliver family-friendly entertainment, media, and technology solutions.

Top Draw Animation, a subsidiary of Grom Social Enterprises Inc. (NASDAQ: GROM), has secured new animation assignments worth over $1 million. This follows previously announced projects valued at $2.9 million in May 2024. Based in Manila since 1999, Top Draw Animation serves global clients with a team of 300+ animation professionals.

The company specializes in 2D animation production, offering premium Harmony and Flash production pipelines. Top Draw Animation has been part of Grom Social Enterprises since 2016 and has a reputation for high-quality animation services, serving both boutique content creators and global entertainment brands.

Arctic7, through its subsidiary Narwhal Studios, has announced its involvement in major 2024 film and TV projects. Narwhal Studios, known for its VFX work on Lucasfilm and Marvel productions, is working on David Ayer's TV series 'Lollipop' and Francis Ford Coppola's movie 'Megalopolis'. The series 'Lollipop' integrates gaming and professional sports, utilizing virtual set design and Unreal Engine 5, and is set to release in late 2024. 'Megalopolis', directed by Coppola, will debut in US theaters on September 27, 2024.

Arctic7 is also in the final stages of being acquired by Grom Social Enterprises (NASDAQ: GROM).

Grom Social Enterprises announced that its subsidiary, Top Draw Animation (TDA), will showcase its 2D animation production services at Annecy 2024 in France. Led by newly-appointed COO Cyrus Mistry, TDA aims to present its award-winning work and discuss tax incentives from the Philippines for productions based in its Manila studio. Celebrating its 25th anniversary, TDA recently secured its largest project to date worth $2.9 million. The company will also highlight its preferred partnership program, which aims to reduce costs, streamline teams, and expedite production timelines.

Grom Social Enterprises announced a redesigned Grom Social app for kids under 13, debuting this summer. The app will feature custom avatars, called 'Gromatars,' delivering Digital Citizenship License (DCL) courses. These courses teach kids responsible social media behavior and are part of Grom's educational offerings provided to schools nationwide. The app requires parental consent for children to create profiles using personalized assets. The DCL content helps schools comply with the Children’s Internet Safety Protection Act (CIPA) and includes instructional videos and quizzes. Grom Social also operates as a safe social media app for children, monitored by parents.

Grom Social Enterprises Inc. (NASDAQ: GROM) announced that its subsidiary, Top Draw Animation, secured over $2.9MM in new assignments, including the largest order in its history. The company's Manila-based studio is attracting international interest due to generous tax incentives, resulting in cost-effective premium animation production services.

Grom Social Enterprises, Inc. (NASDAQ: GROM) is progressing towards the definitive documents phase for the acquisition of Arctic7, Inc., a Texas-based gaming industry service provider. This move will expand Grom's entertainment offerings to include gaming development and virtual production services. The acquisition allows Grom to tap into the $180 billion gaming industry, with $20 billion dedicated to kids' gaming. Grom's Curiosity Ink Media division will soon release two new projects for international distribution, marking the company's foray into original film and TV content.

Former Technicolor Animation & Games Production VP Cyrus Mistry has been appointed as the Chief Operating Officer for Grom's award-winning Manila-based studio, Top Draw Animation. Mistry will oversee a team of 300+ animation staff at the state-of-the-art studio in the Philippines.

Grom Social Enterprises, Inc (NASDAQ: GROM) has entered into a Letter of Intent to acquire Arctic7, a game and co-development services provider, aiming to explore gaming production and revenue growth opportunities. The synergy council will focus on integrating Arctic7's expertise into Grom's family-friendly entertainment offerings, including safe social media for kids and original content creation.