TOON reported revenue of $10.1 million and $35.3 million, for the three and nine months ended September 30, 2023

Kartoon Channel! U.S. Paid Subscribers Increased in 2023, with New Trials More Than Doubling in Q4

Kartoon Channel! Anticipates First Ever Break-Even EBITDA in Fourth Quarter of 2023, a First Since Its Launch

New CFO Brian Parisi Brings Strong Track Record from the NFL and Live Nation, Focused on Value Creation, as well as Growing Revenues and Driving Sustainable Earnings

Kartoon Channel!’s Apple App Store User Rating Beats All Major Competitors, Including Netflix, Disney+, Cartoon Network, and Nickelodeon‍

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**BREAKING NEWS THIS MORNING  

Kartoon Studios Reports Strong Progress and Provides Business Update for the Fourth Quarter and Full Year of 2023

Projected Growth and Cost Saving Initiatives Driving Company Towards Profitability as Animated Characters, Catalogue of Animated Episodes, and Broadcast Assets, All Grow

Under New CFO, Q4 2023 Direct Operating Costs Reduced by Over 70% Year-Over-Year and 54% Sequentially, While Identifying Over $3.5 Million in Additional Annualized Cost Savings Across the Company, to be Implemented in 2024

Kartoon Channel!'s Streaming Business Operating at Break-Even Operating Income, Setting it Apart from Many Leading Competitors, with Continuing Growth and Anticipated Improvement Throughout 2024

Kartoon Channel!’s Paid Subscriber Base Grew 19% in Full Year 2023 Compared to Full Year 2022

Production Arm, Mainframe Studios’ Growing Sales Pipeline and Newly Greenlit Projects Projected to Generate More Than $40 Million in Revenue; Experiencing Robust Recovery Post Industry-Wide Streamer Disruptions and Actors and Writers Strikes

Beacon Media Group, the Company’s Kids and Family Media Agency, Bucks Industry Trends Achieving 16% Quarterly Growth Compared to Q4 2022, Marking Highest Quarterly Revenue Since 2021

Significant Initiatives Underway to Propel Stan Lee Brand and Implement AI Across the Organization

BEVERLY HILLS, Calif., April 09, 2024 (GLOBE NEWSWIRE) -- Kartoon Studios (NYSE American: TOON) today provided a business update for the fourth quarter and year ended December 31, 2023.

Andy Heyward, Chairman & CEO of Kartoon Studios, stated, “2023 was a transformative year for the Company as we laid the foundation for long-term growth and sustainable profitability. Under the strict discipline of our new CFO, Brian Parisi, a former unit CFO of the NFL, we have dramatically reduced our expenses by driving operational efficiencies, while having already identified an additional $3.5 million of annualized cost savings expected to be realized by the Company beginning in 2024. Specifically, under Brian’s leadership, we have cut direct operating costs in Q4 2023 by over 70% compared to the same period last year, and sequentially by more than 54% versus the third quarter of 2023. The entire media industry experienced disruptions in 2023, from the writers and actors strikes, as well as a major reset among streaming companies. Nevertheless, we are confident we are now back on a growth trajectory, as evidenced by the traction we’re gaining in each of our subsidiaries. Specifically, newly greenlit projects are projected to generate over $40 million of revenue within our Canadian production arm, Mainframe Studios, while the sales pipeline is growing rapidly. At the same time, Kartoon Channel!’s paid subscriber base continues to grow, providing us with high margin recurring revenue. Importantly, Kartoon Channel! achieved break-even operating income at the end of 2023, and growth has continued as we move into 2024 with anticipated improvement going forward. We are especially proud of this accomplishment given the short time since we launched this business in 2020 and the fact that many of the leading streaming services are still operating with significant losses. Moreover, our Beacon Media Group subsidiary has resumed solid growth and, in Q4 2023, achieved its highest quarter revenue since 2021. Lastly, we look forward to unveiling key initiatives underway that we believe will propel the growth of the Stan Lee Universe, as well as the implementation of AI across our organization to drive revenues and enhance operating efficiency.”

Mr. Heyward added: “Having reached break-even, we are extremely encouraged by the outlook for Kartoon Channel!, as we have cut our customer acquisition costs by approximately half from the first to the second half of 2023, enhancing our margins through better media efficiency and a strategic approach to content. In 2023, we also saw our paid subscriber base expand by 19% over the previous year, outperforming many streaming services that have faced declines. Notably, ‘free trials’—which are a critical predictor of our future growth—more than doubled in the fourth quarter of 2023 compared to the same period in 2022. We attribute our success to the high quality of our child safe content and, crucially, to our leadership team's direction, led domestically by Todd Steinman, President of Toon Media Networks who brings formidable experience and expertise in this industry, having held leadership positions at The Walt Disney Company and Warner Brothers. Kartoon Channel! has evolved into a leading destination for children's entertainment, offering thousands of episodes of meticulously curated, safe and family-friendly content. We believe our streaming services, bolstered by strong market reach, and the high quality of our service—as evidenced by our consistent 4.9 out of 5 stars rating on the Apple app store, are poised to be a significant driver of Kartoon Studios' growth strategy moving forward. We continue to be the highest-ranked streaming service in the Apple app store amongst our key competitors, including Netflix, Disney+, PBS Kids and Cartoon Network.   Kartoon Channel International, under the leadership of former Disney Channel Worldwide Managing Director, Paul Robinson, has also enjoyed growth, as it continuously expands its global footprint around the world.

User Ratings in the Apple App Store (March 2

“Our Mainframe Studios affiliate has seen a robust recovery and an influx of new projects following the resolution of the Writers Guild of America (WGA) and Screen Actors Guild (SAG) disputes in late Q3 and early Q4 of 2023. Despite Kartoon Studios and its affiliates not being members of the WGA or SAG, the strikes had a pronounced effect on the entire industry, leading to a reduction in spending and new content orders. Now, with the industry beginning to order new content, the Company is seizing this opportunity and Mainframe Studios has secured contracts for a substantial number of new content series, already in our production pipeline. These contracts, extending across the lifespan of the respective projects, are anticipated to begin contributing to our revenue in 2024, with further recognition in subsequent years. Importantly, our sales pipeline is more robust than ever, and with our streamlined operating structure, as well as additional initiatives underway to reduce costs through strategic implementation of new production technologies, we believe we are well positioned to further increase margins. Animation, a consistent and sought-after genre for broadcasters and streamers, remains a cornerstone of the Company’s strategy. Towards this end, Mainframe has established itself as a leading provider of content to major platforms like Netflix, Disney+, and YouTube, as well as to companies like Moonbug, Sony Kids, Mattel, and Spin Master, among others. In fact, Netflix reports over 315 million views of the studio’s productions on their streaming platform. The fact is, Mainframe Studios produces hits, which is evident by the success of titles, including CoComelon, the most-subscribed animation channel on YouTube and the most popular global animation show on Netflix; numerous Barbie movies and series, the #1 performing toy series on Netflix; Unicorn Academy, which hit the Netflix Global Top 10 across three weeks; Octonauts: Above & Beyond, the latest entry in the popular long-running series; and SuperKitties for Disney Junior, which I’m pleased to report begins its second season this month. The premier reputation of Mainframe Studios underscores our confidence in its ongoing success and its pivotal role in our future growth, as it continues to deliver for leading and high-performing brands,” continued Mr. Heyward.

"Our kids and family media agency, Beacon Media Group, performed well in 2023, as a result of strategic initiatives that led to growth in both billed commissions and billed media. As an illustration of our progress, we achieved our strongest quarterly revenue since 2021, a 16% increase compared to the fourth quarter of the previous year. We are optimistic that this upward trajectory will carry into 2024, bolstered by strong advertiser enthusiasm for our upcoming pre-Easter and spring campaigns. Under the leadership of Cindy Kelly, President of Beacon Media Group, the Company has broadened its horizons by welcoming six new advertisers and pushing the boundaries with innovative marketing campaigns. Cindy has been instrumental not only in driving business growth amidst a challenging market but also in forging valuable synergies between Beacon Media, Kartoon Channel!, and our Mainframe Studios subsidiary in Canada. Her efforts have positioned Beacon Media Group as a leader in the kids and family media and marketing space, and today represents more toy companies than any other media agency. Our adoption of innovative strategies, such as self-serve programmatic campaigns, dynamic influencer content and marketing, and innovative social commerce techniques, led to notable improvements in cost-per-thousand impressions (CPMs) and customer acquisition metrics. Throughout the year, our clients saw exceptional performance in generating awareness and engagement, while optimizing customer acquisition costs."

Brian Parisi, Chief Financial Officer of Kartoon Studios, commented, "Kartoon Studios remains steadfast in its commitment to maximizing our operational efficiency and implementing stringent cost management practices, all with the goal of achieving sustained, long-term, profitable growth. We are actively pursuing a detailed plan aimed at lowering operational costs throughout the organization while growing revenue alongside the recovery of the overall industry. Our efforts are bearing fruit, as evidenced by the decline in our loss from operations in Q4 2023, net of impairment, by 39% from Q4 2022 and 48% from Q3 2023. In my first five months at the Company, we have already identified more than $3.5 million of additional annual cost savings across the business which we believe will further reduce our loss from operations and pave the way to achieve our goal of sustainable and growing profitability, as our key brands begin to grow and flourish. From my time as a unit CFO in the NFL, it was apparent that it is important to focus on blocking and tackling, in addition to the big plays. We are doing that because we know, in the long run, it wins games. I also saw how important it is to put together a winning roster. The team of players now inside Kartoon Studios brings extraordinary playing records at Disney, Warner Brothers, Hasbro, and other leading organizations. I am very excited about our future and what it holds.”

Kartoon Studios reported revenue of $8.8 million and $44.1 million, for the quarter and year ended December 31, 2023, respectively. As of December 31, 2023, the Company had current assets of $57.1 million, working capital of $11.5 million, and total stockholders’ equity of $53.3 million.

Complete details of Kartoon Studios’ financial results for the fourth quarter and year ended December 31, 2023, are available in the Company’s Form 10-K, which has been filed with the Securities & Exchange Commission and is available on the Company’s website.

About Kartoon Channel!
Available everywhere and anywhere kids are today, Kartoon Studios’ Kartoon Channel! is a family entertainment destination that delivers 1000s of episodes of carefully curated and safe family-friendly content. The channel features original content, including Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, Rainbow Rangers, and Shaq’s Garage, starring Shaquille O’Neal and Rob “Gronk” Gronkowski. Kartoon Channel! also delivers animated classics for little kids, such as Peppa Pig Shorts, Mother Goose Club, Barney and Friends, Om Nom Stories, as well as content for bigger kids, like Angry Birds, Talking Tom & Friends and Yu-Gi-Oh! Kartoon Channel! also offers STEM-based content through its Kartoon Classroom, including Baby Genius and more, as well as a Spanish language collection on the platform, KC En Espanol.

Kartoon Channel! is available across multiple platforms, including iOS, Android Mobile, Web, Amazon Prime Video, Apple TV, Amazon Fire, Roku, Pluto TV, Comcast, Cox, Dish, Sling TV, Android TV, Tubi, Xumo, Samsung and LG Smart TVs.

Internationally, Kartoon Channel! is currently available in key territories around the world, including Africa and Sub-Sahara Africa (StarTimes), Australia and New Zealand (Samsung TV Plus), Germany (Waipu), Philippines (Tapp Digital) and Maldives (Dhiraagu). Kartoon Channel! Branded blocks are also currently available daily in 69 countries across the Middle East, Africa, Latin America, and Europe.

About Kartoon Studios
Kartoon Studios (NYSE AMERICAN: TOON) is a global end-to-end creator, producer, distributor, marketer, and licensor of entertainment brands. The Company’s IP portfolio includes original animated content, including the Stan Lee brand, Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, on Kartoon Channel! and Ameba; Shaq’s Garage, starring Shaquille O’Neal, on Kartoon Channel!; Rainbow Rangers on Kartoon Channel! and Ameba; the Netflix Original, Llama Llama, starring Jennifer Garner, and more.

In 2022, Kartoon Studios acquired Canada’s WOW! Unlimited Media and made a strategic investment becoming the largest shareholder in Germany’s Your Family Entertainment AG (FRA:RTV), one of Europe’s leading distributors and broadcasters of high-quality programs for children and families.

Toon Media Networks, the Company’s wholly owned digital distribution network, consists of Kartoon Channel!, Frederator Network, and Ameba. Kartoon Channel! is a globally distributed entertainment platform with near full penetration of the U.S. market. Kartoon Channel! and Ameba are available across multiple platforms, including iOS, Android Mobile, Web, Amazon Prime Video, Apple TV, Amazon Fire, Roku, Pluto TV, Comcast, Cox, Dish, Sling TV, Android TV, Tubi, Xumo, and Samsung and LG Smart TVs. Frederator Network owns and operates one of the largest global animation networks on YouTube, with channels featuring over 2000 exclusive creators and influencers, garnering billions of views annually.

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Hello Everyone,

We have another profile on deck for Tuesdays session.

When we profiled this one a few months back it opened at 1.28 and then exploded the next session all the way up to 1.90.

This one generated over $62M in revenues in 2022 and released some impressive numbers thus far for 2023.

Pull up TOON immediately.  

TOON achieved record revenue, increased its paid subscribers, expanded its international market coverage and reached break-even EBITDA in the fourth quarter of 2023.

Kartoon Channel! has steadily grown to become a pre-eminent children’s entertainment destination that delivers thousands of episodes of carefully curated, and family-friendly content. In 2023, paid subscribers increased 19% over 2022, in contrast to a number of streaming services that have been experiencing declines. Importantly, free trials, a leading indicator for future growth, more than doubled in Q4 2023 compared to the same period in 2022.

Kartoon Studios’ streaming business recently hit break-even for the latest quarter, a notable accomplishment among streaming services, many of which have struggled with losses. In addition, the Company has successfully reduced its customer acquisition costs by 50% from the first half to the second half of 2023, driving bigger margins through improved media efficiency and a successful content strategy.

Kartoon Channel! has firmly established itself as a top-tier entertainment destination for children, featuring content such as Stan Lee’s Superhero Kindergarten, Rainbow Rangers, Peppa Pig Shorts, Barney, Kidaverse Roblox Rumble, Llama Llama, Super Simple Songs, Melodee’s, Finny the Shark, Angry Birds, Yu-Gi-Oh! and more. The service has reached nearly 100% penetration of U.S. television households and is available across a broad range of platforms, including iOS, Android Mobile, Web, Amazon Prime Video, Apple TV, Android TV, Amazon Fire, Roku, Tubi, Pluto TV, Xumo, Comcast, Cox, Dish, Sling TV, Samsung and LG Smart TVs.

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ANALYST COVERAGE:

Dawn James analyst James McIlree's bullish $10 target for Kartoon Studios Inc. (NYSE: TOON) suggests an astonishing 941% upside potential from the company's 52-week low and over 706% in potential upside from its recent $1.24 opening on 2/8/2024 according to Barchart.com. ⁽¹⁾⁽³⁾

EXPLOSIVE GROWTH POTENTIAL:

On the brink of a content revolution in 2024, Kartoon Studios Inc. (NYSE: TOON) is poised to flood the market with a diverse array of captivating storytelling and vibrant animation. With a strategic focus on revenue enhancement and operational optimization, the company is primed to unlock unprecedented growth opportunities. ⁽²⁾

BREAKTHROUGH STREAMING SUCCESS:

Kartoon Channel!, the company's streaming network, achieved a groundbreaking milestone in 2023 by reaching breakeven just three years after its launch. ⁽²⁾

DIVERSE PORTFOLIO OF INTELLECTUAL PROPERTIES

Boasting an impressive lineup, Kartoon Studios Inc. (NYSE: TOON) has original IPs, ranging from legendary Stan Lee Universe creations to adventurous narratives like Blue Origin Space Rangers and the quirky Chikn' Nuggit. With collaborations with industry titans like Netflix, Disney Channel, and Frederator Networks, Kartoon Studios offers market observers exposure to a diverse array of storytelling treasures poised for global distribution. ⁽²⁾

VISIONARY LEADERSHIP

With Gregg Goldin at the helm of content expansion as Senior Vice President of Development & Production, Kartoon Studios Inc. (NYSE: TOON) is poised to enter a new era of creative dynamism. Goldin's unparalleled expertise and visionary leadership, honed through decades of experience at DreamWorks Animation, Cartoon Network, and MTV, position him as a driving force behind Kartoon Studios' content renaissance. His track record of nurturing successful franchises and forging strategic partnerships underscores the company's potential for delivering blockbuster results. ⁽²⁾

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In the ever-evolving landscape of children’s entertainment, Kartoon Studios Inc. (NYSE: TOON) emerges as a shining beacon of creativity and innovation. With a diverse portfolio of animated properties and a strategic focus on global distribution, Kartoon Studios is poised to captivate audiences worldwide while delivering substantial research opportunities to market observers.

Analyst James McIlree, CFA of Dawson James Securities, recently set a $10 target on Kartoon Studios, suggesting an impressive 969% upside potential from the company’s 52-week low of $.9346, set on 10/31/2024, according to Barchart.com. ⁽¹⁾⁽³⁾

Additionally, with its recent opening on 2/8/2024 at $1.24, the $10 target implies a remarkable 706% potential upside. This optimistic projection underscores the company’s transformative journey and its promising outlook for future growth and profitability. ⁽¹⁾⁽³⁾

Expanding Horizons with Shaq's Garage ⁽¹⁾

One of Kartoon Studios’ standout offerings is “Shaq’s Garage,” an animated series starring none other than basketball legend Shaquille O’Neal. ⁽¹⁾

Launched in June on Pluto TV, “Shaq’s Garage” exceeded expectations, driving significant audience engagement and surpassing viewership numbers of all other Kartoon Channel titles combined. ⁽¹⁾

The availability of “Shaq’s Garage” across all Kartoon Channel platforms further solidifies its status as a cornerstone of the company’s content lineup, poised to drive higher revenue in the second half of the year. ⁽¹⁾

Strategic Acquisitions and Investments ⁽¹⁾

Kartoon Studios has undergone a remarkable transformation over the past 12 months, positioning itself as a global developer, producer, and distributor of animated children’s content.

Key acquisitions, including WOW Unlimited and Ameba TV, along with an investment in Your Family Entertainment AG (YFE), have significantly enhanced the company’s content creation capabilities and global distribution reach. ⁽¹⁾

With access to independently created content from WOW’s YouTube multi-channel network and YFE’s extensive distribution network spanning Europe, Asia, Latin America, Africa, and Australia, Kartoon Studios is well-positioned to reach audiences across the globe. ⁽¹⁾

Financial Strength and Strategic Initiatives ⁽¹⁾

Kartoon Studios Inc. (NYSE: TOON) reported revenue of $10.1 million and $35.3 million, for the three and nine months ended September 30, 2023. As of September 30, 2023, Kartoon Studios had current assets of $61.4 million, working capital of $11.8 million, and total stockholders’ equity of $74 million. ⁽⁸⁾

Valuation and Growth Potential ⁽¹⁾

McIlree’s $10 price target for Kartoon Studios is based on a comparable group of entertainment companies trading at 3x to 5x sales. Utilizing a conservative 4.5x sales multiple and a Q4 2024 run rate revenue estimate of $72 Mln, the target price reflects the company’s immense potential and compelling valuation. ⁽¹⁾

A Global Force in Children's Entertainment

Kartoon Studios Inc. (NYSE: TOON) stands out as a unique and dynamic player in the entertainment industry, with a global distribution reach and a rich portfolio of beloved animated properties. ⁽¹⁾

With Shaq’s Garage leading the charge and a robust pipeline of content on the horizon, Kartoon Studios is poised to redefine the future of children’s entertainment for years to come. ⁽¹⁾

Global Animation Market Predicted to Skyrocket to $779B⁽⁴⁾

Chart Source (4)

The global animation market is on a trajectory of unprecedented growth, with estimates projecting it to surpass a staggering $779B by the year 2032. ⁽⁴⁾

A recent research report delving into the realm of the “Kids Animation Show and Drama Market” offers a glimpse into this booming industry, providing insightful perspectives and future market projections. ⁽⁵⁾

Surprisingly, within a mere four years, the global market for Kids Animation Show and Drama is expected to skyrocket to $8.3B by 2028, underscoring the rapid pace of expansion within this sector. ⁽⁵⁾

Driving Forces Behind Market Expansion

A pivotal driver propelling the growth of the animation industry is the relentless surge in technological advancements within the realms of communication and technology. ⁽⁴⁾

The emergence of revolutionary technologies such as virtual reality (VR) and artificial intelligence (AI) is poised to unlock new avenues of opportunity for market players worldwide. ⁽⁴⁾

Extended Reality (XR) technologies, including VR and AI, are witnessing remarkable advancements, revolutionizing the creative landscape of the animation industry. ⁽⁴⁾

The transformative potential of AI is set to redefine industrial growth, offering a myriad of opportunities for key players operating within the market. ⁽⁴⁾

Additionally, the rising adoption of visual effects technology in movies further augments the growth trajectory of the industry, promising substantial expansion though 2032.⁽⁴⁾

Strategic Partnerships: Catalysts for Market Growth ⁽⁴⁾

A notable trend observed within the global market is the proliferation of strategic partnerships among major industry players.

This collaborative approach is anticipated to persist and serve as a significant catalyst for market expansion in the foreseeable future, fostering innovation and driving growth across the sector. ⁽⁴⁾

Amidst the backdrop of this dynamic market landscape, Kartoon Studios Inc. (NYSE: TOON) emerges as one company to keep a close eye on. ⁽⁶⁾

Kartoon Studios Inc. (NYSE: TOON), a leading global media company, specializes in developing, producing, marketing, and licensing branded animated properties and consumer products for media and retail distribution. ⁽⁶⁾

A Diverse Portfolio of Family-Friendly Content

Kartoon Studios Inc. (NYSE: TOON) boasts an impressive IP portfolio, featuring a plethora of family-friendly content that resonates with audiences worldwide. ⁽⁶⁾

From the iconic Stan Lee brand and “Stan Lee’s Superhero Kindergarten” starring Arnold Schwarzenegger to the eagerly anticipated “Shaq’s Garage” featuring basketball legend Shaquille O’Neal, Kartoon Studios offers a rich tapestry of animated entertainment.

Notable productions include “Rainbow Rangers” on Kartoon Channel and Netflix, as well as “Llama Llama” starring Jennifer Garner, also on Netflix. ⁽⁶⁾

Strategic Acquisitions and Global Distribution Reach

In a strategic move to bolster its market presence, Kartoon Studios Inc. (NYSE: TOON) entered into an agreement to acquire Canada’s WOW! Unlimited Media, adding over 2,000 channels under the Channel Frederator Network to its repertoire. ⁽⁶⁾

Additionally, the company made a strategic investment in Germany’s Your Family Entertainment AG, further expanding its reach in Europe. ⁽⁶⁾

Kartoon Studios’ Toon Media Networks, comprising Kartoon Channel!, Frederator Network, and Ameba, constitutes a globally distributed entertainment platform with extensive penetration in the U.S. television market and a burgeoning international presence across 60 territories worldwide. ⁽⁶⁾

Under Kartoon Studios’ umbrella, Frederator Network reigns as the largest global animation network on YouTube, boasting over 2,000 exclusive creators and influencers.

With billions of views garnered every month, Frederator Network serves as a testament to Kartoon Studios’ commitment to fostering creativity and nurturing talent in the animation community.

Kartoon Studios Inc. (NYSE: TOON) Sets Sails for a Banner Year with a Content Tsunami in 2024 ⁽²⁾

Kartoon Studios Inc. (NYSE: TOON) is poised to unleash a wave of content in 2024, signaling an ambitious leap forward in its mission to captivate audiences with imaginative storytelling and vibrant animation.

With a strategic focus on boosting revenue and optimizing operations, the company is charting a course towards sustained profitability, buoyed by the resounding success of its streaming network, Kartoon Channel! ⁽²⁾

Chief Financial Officer, Brian Parisi, underscores the pivotal role of revenue-driving initiatives and operational efficiency in steering Kartoon Studios towards profitability. ⁽²⁾

The company’s streaming service, Kartoon Channel!, achieved a breakthrough in 2023 by reaching breakeven, a remarkable feat within just three years of its launch. ⁽²⁾

As Kartoon Channel! continues its ascent, dominating user rankings in the Apple app store among children’s content platforms, the stage is set for further financial milestones in 2024, aligning the company’s trajectory with industry giants like Netflix. ⁽²⁾

At the helm of Kartoon Studios Inc. (NYSE: TOON)’s content expansion is Gregg Goldin, a luminary in animation and content development. ⁽²⁾

Goldin’s illustrious career boasts stints at DreamWorks Animation, Cartoon Network, and MTV, where he played instrumental roles in shepherding iconic franchises and groundbreaking series to fruition. ⁽²⁾

His appointment as Senior Vice President of Development & Production heralds a new era of creative dynamism for Kartoon Studios, infused with his wealth of experience and visionary leadership.⁽²⁾

Goldin’s arrival coincides with an exciting lineup of projects poised to captivate audiences worldwide. ⁽²⁾

From original IPs sourced from the legendary Stan Lee Universe to adventurous narratives like Blue Origin Space Rangers and the quirky Chikn’ Nuggit, Kartoon Studios is primed to unleash a diverse array of storytelling treasures. ⁽²⁾

Collaborations with industry titans such as Netflix, Disney Channel, and Frederator Networks underscore the company’s commitment to delivering premium content across multiple platforms.

Andy Heyward, Chairman & CEO of Kartoon Studios, expresses his enthusiasm for the forthcoming wave of creative endeavors, highlighting Goldin’s invaluable contributions in fortifying the company’s content arsenal. ⁽²⁾

With Goldin spearheading development and production efforts, Kartoon Studios aims to cultivate a rich tapestry of intellectual properties poised for global distribution, mirroring Goldin’s previous successes in shepherding blockbuster franchises to fruition.⁽²⁾

Goldin’s track record of nurturing successful series and movies at DreamWorks Animation and Cartoon Network positions him as a pivotal architect in Kartoon Studios’ content renaissance. His adeptness in fostering partnerships and driving innovation underscores his instrumental role in propelling Kartoon Studios towards unprecedented heights of creative excellence and commercial success.⁽²⁾

In the rapidly evolving landscape of children’s entertainment, Kartoon Studios Inc. (NYSE: TOON) stands out as a beacon of creativity and innovation. With an expanding portfolio of original IPs, strategic partnerships, and a growing streaming platform, the company is poised to captivate audiences of all ages, reaffirming its position as a global leader in positive entertainment for children.

As Kartoon Studios Inc. (NYSE: TOON) embarks on its journey into 2024 and beyond, the stage is set for a symphony of storytelling brilliance, orchestrated by the industry’s finest talents and fueled by an unwavering commitment to delight, inspire, and entertain audiences around the world.

NEWS

Kartoon Studios’ Kids Media and Marketing Agency, Beacon Media Group, Grows Revenues, Client Base, and Delivers Successful Campaign Results in 2023

Feb 13, 2024

Kartoon Channel! Achieves Record Revenue, Subscriber Growth, and Global Coverage

Feb 13, 2024

Kartoon Studios CEO Andy Heyward and CFO Brian Parisi to Participate in the Benzinga All Access Event on February 13th at 11AM Eastern Time

Feb 12, 2024

Kartoon Studios and Penguin Young Readers Launch New “Llama Llama” Merchandise Retail Promotional and Charitable Program at Kohl’s

Feb 12, 2024

Kartoon Studios Announces Significant Increase in Content Production Planned for 2024

Jan 22, 2024

Kartoon Studios Provides Business Update for the Third Quarter of 2023

Nov 17, 2023

Kartoon Channel!’s Hit Series, “Shaq’s Garage,” Starring Shaquille O’Neal, Launches on Youtube and Tubi

Oct 19, 2023

Kartoon Studios Appoints Entertainment, Media and High-Tech Industry Executive, Brian Parisi, as Chief Financial Officer

Sep 27, 2023

Kartoon Studios Creates Limited-Edition Digital Artwork Commemorating Transition to the New York Stock Exchange

Aug 15, 2023

Kartoon Studios Provides Business Update for the Second Quarter of 2023

Aug 14, 2023

Kartoon Studios’ Kids and Family Streaming Business Records Rapid Growth

Aug 2, 2023

Kartoon Studios Celebrates 10th Anniversary of Its Netflix Hit and Growing Global Consumer Products Phenom, “Bee and PuppyCat”

Jul 31, 2023

Kartoon Studios Enters Malaysian Market with Kartoon Channel! Branded Block on Astro in August 2023

Jul 25, 2023

Kartoon Studios Through Its Controlling Interest in Stan Lee Universe Partners With Digital Leader, VeVe, for Stan Lee Digital Collectibles, Launched on July 18th

Jul 24, 2023

Kartoon Studios Announces Kartoon Films

Jul 13, 2023

Kartoon Studios Announces ‘Stan Lee Comics’, Based on Never-Before-Released Stories and Characters Created by Stan Lee

Jul 11, 2023

Kartoon Studios’ Premiere of Shaq’s Garage, Starring Shaquille O’Neal, Outperforms During June Exclusive on Pluto TV

Jul 10, 2023

Kartoon Studios Announces the World Premiere Of “Excelsior! The Life and Legacy of Stan Lee” Exhibition

Jun 27, 2023

Kartoon Studios Chairman & CEO to Appear Live on The Claman Countdown on Fox Business Network Today

Jun 26, 2023

Kartoon Studios Transfers Listing to NYSE American – Begins Trading Under New Ticker Symbol ‘TOON’

Jun 26, 2023

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MANAGEMENT TEAM

Andy Heyward

Chairman & Chief Executive Officer

Emmy Award-winning Andy Heyward has made more episodes of kid’s television than any other producer.  After graduating from UCLA with a Bachelor of Arts degree in Philosophy in 1975, he joined Hanna-Barbera as a writer and story editor.  During his five years with Hanna-Barbera, he was involved in the development and writing of numerous series including Scooby Doo, Flintstones, Jetsons, Smurfs, Yogi Bear and Scooby’s All Star Laff-A-Lympics.  In 1980 he moved to France where he joined DIC Audiovisual, a production company specializing in children’s animated programming.  In 1982, he co-created Inspector Gadget and during the following years he has produced over 5,000 episodes of award-winning children’s programs, most of which shows and brands are household names, including Inspector Gadget, The Real Ghostbusters, Alvin and the Chipmunks, G.I. Joe, Hello Kitty, Sonic the Hedgehog, Super Mario Bros, Sabrina the Teenage Witch, Strawberry Shortcake, Care Bears, Captain Planet, Teddy Ruxpin, Sailor Moon, Madeline, Where on Earth is Carmen Sandiego, Liberty's Kids, and dozens more.  In 1994, he convened the National PTA, National Education Association, UCLA and producers from throughout the industry to draft the first voluntary set of program guidelines for children’s television.  In 1996, he hosted the first meeting between then FCC Chairman Reed Hundt and children’s television producers.

Today under Kartoon Studios, Heyward produces and licenses brands ranging from Stan Lee Universe, to Baby Genius, to Warren Buffett's Secret Millionaires Club, to Thomas Edison's Secret Lab, to SpacePop for the global market.  He has also been the largest producer of FCC mandated educational informational programming for children, and has produced hundreds of PSAs promoting child safety, health, exercise, and nutrition.  In collaboration with Warren Buffett, he produces the short film which opens the annual Berkshire Hathaway Shareholders meeting, and he co-authored a book with Warren Buffett promoting financial literacy for kids.  Heyward is also the author of Go Go Gadget – The Creation of Inspector Gadget.

Andy's notable work in children's programming has earned him multiple industry awards, and his charitable efforts off-screen have resulted in numerous recognitions. Some of his awards include two Emmys, nine Emmy nominations, two Humanitas Awards, two Cable Ace Awards, five Golden Reel Awards, three Environmental Media Awards, a New York Television Festival Award and a National Education Association Award, among others.  He was inducted into the KidScreen Hall of Fame, and won the Studio of the Year at Italy’s Cartoons on the Bay International Festival of Television Animation in 2006 (co-awarded to Roy Disney).

Heyward is a member of the Producers Guild of America, the National Academy of Television Arts and Sciences, the International Academy of Television Arts and Sciences, and the British Academy of Film and Television Arts (BAFTA).  He was the 2010 UCLA College of Humanities Commencement speaker and is currently a Mentor in the UCLA mentoring program.  He is active in many community activities, including serving on the Board of Directors of Cedars-Sinai Medical Center.

Margaret Loesch

Executive Chairman Kartoon Channel!

Throughout her formidable career, Margaret Loesch has held senior roles with numerous leading companies as both a creative and business executive. In 1990, she became the founding President and CEO of Fox Kids Networks Worldwide, growing the channels across all metrics, where it was eventually sold to the Walt Disney Company for $5.5 billion. During this time, she launched a multitude of hit series, including the billion-dollar brand Power Rangers, growing Fox Kids into the top children’s program service on television.

Prior to Fox Kids, Loesch served as President & CEO of Marvel Productions. Previously, she was President of The Jim Henson Company, and the Founding President & CEO of the U.S. Hallmark Channel and Crown Media U.S. Most recently, Loesch served as President of the HUB, which was a joint venture between Hasbro Toys and Discovery Communications, where she had oversight of all business and creative areas of the network. In addition to Power Rangers, her resume includes launching some of the most successful animated children’s properties in the world, such as Batman, Spider-Man, Steven Spielberg’s Animaniacs, Transformers, My Little Pony, X-Men, Muppet Babies, and Fraggle Rock.

Michael Jaffa

Chief Operating Officer

Michael Jaffa served as Head of Business Affairs at DreamWorks Animation Television and was responsible for all studio business and legal affairs matters, including the negotiation and drafting of hundreds of development, production, acquisition, talent, digital and music agreements. Previously, he was the Vice President of Legal & Business Affairs for Hasbro Studios, working directly with Hasbro Studios' President, CFO, and General Manager to help create programs and launch strategy for a new studio and related network. Michael has also represented various clients, including Sony Pictures Animation and MGM Studios. Michael received a J.D. from New York University School of Law.

Brian Parisi

Chief Financial Officer

Mr. Parisi brings 30 years of experience across the entertainment, media, and high-tech industries, specializing in finance, accounting, M&A, corporate strategy, and business development. Before joining Kartoon Studios, he was the Chief Financial Officer at Break the Floor Productions in Hollywood, California, an entertainment production company. In this role, he notably prepared the company for sale, successfully completing two separate transactions with PE firms. He managed all finance and accounting functions and effectively reduced the company's overall risk exposure. Previously, Mr. Parisi served as the Chief Financial Officer at the NFL Hall of Fame Village (HOFV), where he oversaw a wide range of financial activities including managing construction budgets, assist the company with its IPO, financial reporting, and cash management for the nearly $1 billion investment in a newly designed entertainment complex in Canton, Ohio. In addition, he served as the Head of Finance for the Festivals Division at Live Nation Entertainment (LYV) where he was responsible for developing strategic plans for Electronic Dance Music festivals in multiple countries with more than 1.3 million fans annually. Mr. Parisi has also held leadership positions at Warner Bros. Entertainment (WBD) and NBC Universal (CMCSA).

Mr. Parisi is a CPA and holds a B.S. in Accounting from Purdue University, Daniel School of Business, and an M.B.A in Strategic Management from the University of Southern California, Marshall School of Business.

Jon Ollwerther

Executive Vice President

Ollwerther joins Kartoon Studios from Measure, the nation's leading Drone as a Service® company.  As Vice President of Media, Ollwerther grew the Arts & Entertainment division from its inception and worked with leading media companies and advertisers like ABC, CBS, ESPN, Red Bull Media House, Coach, Prada, Maker's Mark, and Nissan.

As a trailblazer in an emerging industry, Ollwerther focused on leveraging drones as a tool for artistic expression and informational use, including major franchise films to live concerts and events. Among other accomplishments, he pioneered live broadcasting via drone for news and sports and spearheaded the first live drone network broadcasts in America, and helped bring drone light shows to life.  Working with clients across the country and around the world, Ollwerther has an extensive credit list of collaborations with brands and advertising agencies to create unforgettable experiences. Prior to joining Measure, Ollwerther was the COO of an aerial robotics company based in NYC.

Lloyd Mintz

Senior Vice President, Head of Worldwide Consumer Products

Lloyd Mintz is a seasoned industry executive with more than 20 years of experience in licensing, merchandising and new business development and is widely respected for his expertise in leveraging brand equity through licensing. He works with retailers and licensees to build comprehensive global consumer products’ programs for each of the company’s brands. Prior to Kartoon Studios, Lloyd managed his own consultancy during which time he negotiated more than 150 licensing agreements and generated over $700MM in cumulative retail sales on behalf of clients across a range of brand owners and manufacturers. Most recently, he worked as Executive Vice President of Licensing for NYC-based Galaxy Brands that owned the AND1 and AVIA athletic brands. Previously, Lloyd worked at Hasbro, Inc. as the Vice President of Domestic Corporate Licensing where he pioneered the effort to license Hasbro’s classic game brands, such as Monopoly, to slot machine manufacturers. He began his licensing industry career at Disney Consumer Products where he oversaw Disney’s largest licensee, Mattel, Inc., and their development of toy programs for classic properties such as Lion King, Winnie the Pooh, and Aladdin. Lloyd graduated from Wesleyan University and earned his M.B.A. from UCLA’s Anderson School of Management.

Gregg Goldin

Senior Vice President, Development & Production

Goldin joins Kartoon Studios with over twenty years of experience in animation and live-action content development and production, overseeing highly successful movies and series across multiple genres, including DreamWorks Animation’s blockbuster franchises How to Train Your Dragon, Kung Fu Panda, and Fast & Furious. In this new role, Goldin will be responsible for heading up development and production for both new and original IP to deliver to the marketplace.

Cindy Kelly

President of Beacon Media Group

Kelly joins Kartoon Studios with over 25 years of experience in executive sales and sponsorship roles at leading media companies, including extensive children’s media sales at Cartoon Network. She also served as Broadcast Account Supervisor at Ogilvy & Mather Advertising in NYC, overseeing media strategy for blue chip accounts, including, Mattel Toys, Campbell’s Soup and Paramount Pictures.

Todd Steinman

President of Toon Media Networks

Todd Steinman is an accomplished growth marketing executive who with extensive B2B and B2C experience.  Prior to joining Kartoon Studios, Steinman most recently served as Vice President in the Direct to Consumer and International division at The Walt Disney Company, which included Disney+ during its launch. He helped create solutions to leverage the Walt Disney Company’s portfolio of linear and digital brands, including DISNEY, HULU, ESPN, ABC, FREEFORM, FX, and Nat Geo, while setting strategy for ad sales and revenue teams. Prior to his role at The Walt Disney Company, Steinman co-founded the digital media agency, M80, and then led the NBC Universal media team for WPP after they acquired M80. He negotiated multi-million-dollar annual media deals with Google/YouTube, Amazon, Hulu, Disney, Twitter, Snapchat, Spotify, and others, while managing an annual budget north of $1 billion.

Paul Robinson

President of Kartoon Channel! Worldwide

Paul Robinson is an accomplished and seasoned media executive with significant experience developing media brands around the globe. Robinson previously served as Managing Director of Disney Channel Worldwide, where he was responsible for global programming and production strategy. He also founded the Toon Disney and Playhouse Disney television channels internationally. Before his tenure at The Walt Disney Company, Robinson was Head of Strategy for the BBC Newtork Radio, overseeing the strategy development for BBC Radios 1, 2, 3, 4, and 5 Live. Additionally, he has served as Managing Director of talkSPORT; Co-Founder and CEO of KidsCO, NBCUniversal’s international children’s channel; and Executive Vice President of Your Family Entertainment AG, in which Kartoon Studios recently acquired a controlling stake.

Sincerely,

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Source 2: https://finance.yahoo.com/news/kartoon-studios-announces-significant-increase-140000944.html
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