With all the new streaming services and the increased use of digital marketing content, video production services market has been steadily rising. The growing role of video marketing in digital marketing strategies is a key factor behind the evolving needs for video production services. Over the past few years, such services are gathering among brands who want to use animation to promote. Access to cutting-edge equipment, flexibility, and camera skills are a few of the foremost business propositions fueling the demand for video production services. Providers of video production services are also meticulous about the audience for a powerful storyboarding. Growing demand for compelling video contents among corporates is a crucial trend expected to shape the contours of the video production services market. Demand for video editing service has also risen among corporate consumers. Players in the market are leaning on diversifying their portfolio of services in order to meet wide range of demands in the market. They are adopting advances camera technologies, such as 4K. One of the skills that has been attracting attention of providers of video production services are honing in digital marketing expertise. Another skill set that providers are giving increased attention is animations. The demand for event videos has also witnessed a marked increase over the past few years. Active Companies in the markets today include Grom Social Enterprises, Inc. (NASDAQ: GROM), Fox Corporation (NASDAQ: FOXA), The Walt Disney Company (NYSE: DIS), Discovery, Inc. (NASDAQ: DISCA), DISH Network Corporation (NASDAQ: DISH).
Video production services providers create digital video content as per end-user requirement. Increasing penetration of mobile computing devices, availability of low-cost smartphones, and increasing internet penetration are some of the key factors accelerating the video production services market globally. A report from Transparency Market Research said that: “Increasing internet penetration and adoption of smartphones are major factors accelerating the demand for new video content. In 2018, approximately 58.8% of the total world population used the internet wherein North America accounted for dominating position in the internet penetration rate. Increasing number of internet users are replacing cable TV with over-the-top media services, which increases the demand for new video content, subsequently accelerating the video production services market. In addition, the increasing adoption of smartphones and tablets has increased the digital platform subscriber base which raises the demand for digital video content, spurring the growth of the video production services market. The promotional video segment is expected to expand with the highest CAGR during the next few years. The increasing trend of e-commerce has accelerated the demand for digital promotional videos which helps companies to engage customers.”
Grom Social Enterprises, Inc. (NASDAQ: GROM) BREAKING NEWS: Curiosity Ink Media and Toon2Tango Partner to Develop Santa.com into CGI Animated Musical Christmas Special – Grom Social Enterprises, Inc. (NASDAQ: GROM), which recently entered into an agreement to acquire Curiosity Ink Media – a producer of original multiplatform family entertainment – today announced that Curiosity and global production and distribution powerhouse Toon2Tango GmbH & Co. KG will develop Santa.com into an original animated musical holiday special. The special will serve as a feature length companion to Santa.com, Grom’s previously announced ecommerce initiative in which visitors can enjoy the merriest time of year in a virtual North Pole. The announcement was made jointly by Curiosity Ink Media’s Chief Content Officer, Russell Hicks and Toon2Tango Chief Executive Officer, Ulli Stoef.
Inspired by annual favorites like “Rudolph The Red Nosed Reindeer” and “Elf,” Santa.com tells the story of how Santa’s retirement results in a fully automated North Pole. Elves oversee a workshop in which holiday wishes are fulfilled by robotic candy cane arms and gifts are delivered by peppermint drones. The updated system works smoothly and efficiently until Cyber Scrooge hacks the system and threatens to cancel Christmas. However, proving that technology can never replace the true spirit of Christmas, Yo-Yo the Elf embarks on a worldwide adventure to round up the now retired reindeer, find Santa’s broken sleigh and lure Santa out of retirement.
The feature length special serves as a brand companion to the Santa.com website, which Grom and Curiosity will debut in November 2021. This virtual holiday hub allows visitors to register their wish lists, tour the North Pole, play holiday-themed games, and even schedule a virtual visit with Santa Claus. The site offers one-stop-shopping for users to browse, purchase and send personalized gifts from the comfort of home. The ecommerce venue represents an opportunity to tap into the growing holiday retail market, projected to top $1 trillion this year, including a 11.3% climb in ecommerce to over $206B in sales. (emarketer.com Holiday 2021 Preview)
The partnership builds on Curiosity’s recent alliance with Toon2Tango to develop preschool original IP franchise Baldwin’s Big Adventure into an animated series. The Munich, Germany-based production company, who are specialists in development and global distribution of kids’ and family content, will aid Curiosity’s efforts to enhances their global reach in animation production and brand building to prepare IP for global audiences.
“The world needs a fresh, fun and inventive take on Christmas and Toon2Tango is the perfect partner to help us craft a new, instant holiday classic,” explains Hicks. “Their visual storytelling approach blends seamlessly with Santa.com’s heartwarming story, original musical score and richly defined characters to capture the fun and nostalgia of Christmas and create a new holiday tradition the whole family will love.”
“We are very happy to partner with Curiosity on this very fresh approach to a Christmas Story,” adds Stoef. “The idea offers everything Toon2Tango is looking for in order to bring outstanding original IP to the small and big screen.” CONTINUED… For more information about Grom Social Enterprises please visit https://gromsocial.com/
Other recent developments in the markets include:
The Walt Disney Company (NYSE: DIS) recently reported earnings for its second fiscal quarter ended April 3, 2021. Diluted earnings per share (EPS) from continuing operations for the quarter increased to $0.50 from $0.26 in the prior-year quarter. Excluding certain items, diluted EPS for the quarter increased 32% to $0.79 from $0.60 in the prior-year quarter. EPS from continuing operations for the six months ended April 3, 2021 decreased 64% to $0.52 from $1.43 in the prior-year period. Excluding certain items, EPS for the six months decreased 48% to $1.11 from $2.13 in the prior-year period. Results for the quarter and six months ended April 3, 2021 were adversely impacted by the novel coronavirus (COVID-19). The most significant impact was at the Disney Parks, Experiences and Products segment where since late in the second quarter of fiscal 2020, our parks and resorts have been closed or operating at significantly reduced capacity and our cruise ship sailings have been suspended.
“We’re pleased to see more encouraging signs of recovery across our businesses, and we remain focused on ramping up our operations while also fueling long-term growth for the Company,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “This is clearly reflected in the reopening of our theme parks and resorts, increased production at our studios, the continued success of our streaming services, and the expansion of our unrivaled portfolio of multiyear sports rights deals for ESPN and ESPN+.”
Discovery, Inc. (NASDAQ: DISCA) recently announced that its President and CEO David Zaslav had presented at Credit Suisse’s 23rd Annual Communications Conference on Tuesday, June 15, 2021.
A link to the webcast of the presentation is available in the “Investor Relations” section of Discovery’s website at https://corporate.discovery.com/. An on-demand replay of the webcast will be available on the Company’s Investor Relations website.
Discovery, Inc.is a global leader in real life entertainment, serving a passionate audience of superfans around the world with content that inspires, informs and entertains. Discovery delivers over 8,000 hours of original programming each year and has category leadership across deeply loved content genres around the world.
DISH Network Corporation (NASDAQ: DISH) recently reported revenue totaling $4.50 billion for the quarter ending March 31, 2021, compared to $3.22 billion for the corresponding period in 2020.
Net income attributable to DISH Network totaled $630 million for the first quarter 2021, compared to $73 million from the year-ago quarter.
Diluted earnings per share were $0.99 for the first quarter, compared to $0.13 per share during the same period of 2020.
Pay-TV – Net Pay-TV subscribers decreased approximately 230,000 in the first quarter, compared to a net decrease of approximately 413,000 in the year-ago quarter.
The company closed the quarter with 11.06 Pay-TV subscribers, including 8.69 million DISH TV subscribers and 2.37 million SLING TV subscribers.
Wireless – Retail wireless net subscribers decreased by approximately 161,000 in the first quarter, compared to a net decrease of 363,000 in the fourth quarter.
Fox Corporation (NASDAQ :FOXA) FOX News Digital recently said it had closed out the month of May surpassing CNN.com in total multiplatform minutes for the third consecutive month and outperforming all other news brands in the news competitive set, with nearly 3.4 billion total multiplatform minutes, according to Comscore. In May, the digital network notched nearly 1.6 billion total multiplatform views, also outpacing CNN.com in the metric and delivered over 85 million total unique visitors. Additionally, the FOX News Mobile App drove 7.1 million unique visitors in May, edging out CNN in the category.
For the 81st consecutive month, FOX News remained the most engaged news brand on social media (Facebook, Twitter and Instagram). FOX News was also the top-performer in Facebook and Instagram interactions among news competitors, with over 24 million Facebook interactions and 21 million on Instagram, according to Socialbakers. FOX News also reigned as the top news outlet in YouTube video views, with over 214 million, while FOXBusiness.com topped the business competition in the category with 27 million views.
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