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Update
$Kartoon Studios (TOON.US)$ Kartoon Studios' Largest Revenue Unit, Mainframe Studios, Surges on Strong Business Rebound
Globe Newswire 30-Sep-2024 8:45 AM
Mainframe currently has multiple series in production for industry giants that include Spin Master, Sony Kids, and Disney
Company secures series orders for over 145 episodes, strengthening a continuing work pipeline through 2025 and 2026
VANCOUVER, British Columbia and BEVERLY HILLS, Calif., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Kartoon Studios (NYSE:TOON) today provided a business update for its affiliated animation production arm and largest revenue unit, Mainframe Studios. The Company is reporting that Mainframe Studios is moving toward continued growth amid a strong business rebound following the settlement of the WGA and SAG strikes. The studio has secured series orders for over 145 episodes, strengthening a continuing pipeline through 2025 and 2026. It presently has four series in production with industry giants, including Spin Master, Sony Kids, and Disney.
"Over the past year, Mainframe Studios has experienced a significant increase in deal flow, signaling a strong business recovery, following the resolution of the Writers Guild of America (WGA) and Screen Actors Guild (SAG) disputes in late Q3 and early Q4 of 2023," said Brian Parisi, Chief Financial Officer of Kartoon Studios. "In the second quarter of 2024, Mainframe Studios' production demand rebounded following the resolution of labor disputes. We have built a highly scalable infrastructure and continue to enhance operational efficiency."
Globe Newswire 30-Sep-2024 8:45 AM
Mainframe currently has multiple series in production for industry giants that include Spin Master, Sony Kids, and Disney
Company secures series orders for over 145 episodes, strengthening a continuing work pipeline through 2025 and 2026
VANCOUVER, British Columbia and BEVERLY HILLS, Calif., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Kartoon Studios (NYSE:TOON) today provided a business update for its affiliated animation production arm and largest revenue unit, Mainframe Studios. The Company is reporting that Mainframe Studios is moving toward continued growth amid a strong business rebound following the settlement of the WGA and SAG strikes. The studio has secured series orders for over 145 episodes, strengthening a continuing pipeline through 2025 and 2026. It presently has four series in production with industry giants, including Spin Master, Sony Kids, and Disney.
"Over the past year, Mainframe Studios has experienced a significant increase in deal flow, signaling a strong business recovery, following the resolution of the Writers Guild of America (WGA) and Screen Actors Guild (SAG) disputes in late Q3 and early Q4 of 2023," said Brian Parisi, Chief Financial Officer of Kartoon Studios. "In the second quarter of 2024, Mainframe Studios' production demand rebounded following the resolution of labor disputes. We have built a highly scalable infrastructure and continue to enhance operational efficiency."
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