Grom’s Top Draw Animation Subsidiary Secures Over $1.2 MM in New Production Assignments
Adds to the Value of the Manila-Based Studio’s Production Assignments Already Underway of $2.2MM as of June 30, 2023
BOCA RATON, Fla., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Top Draw Animation (TDA), a leading source of premium animation production services for programming shown throughout the world, and a division of Grom Social Enterprises Inc. (NASDAQ: GROM), today announced that it will begin work later this month on new assignments for a combined value of $1.259MM USD. The new projects add to the $2.2MM of value from remaining contracted assignments already in progress as of June 30, 2023. The values and assignments were confirmed today by Top Draw Animation’s Executive Vice President, Jared Wolfson.
Top Draw’s team of 300 animation pros oversee all facets of production on the animated TV projects and short-form content. Based in Manila, Philippines, the company produces animated series, movies, specials and short-form programming for several leading global and international entertainment providers and was acquired by Grom Social Enterprises in 2016. The studio operates under the direction of the company’s two Hollywood-based leaders; President Russell Hicks, who earlier led Nickelodeon’s original animation and live action production; and the aforementioned Wolfson, both of whom assumed their new roles in 2021.
“Top Draw Animation continues to deliver best-in-class animation production to audiences around the world,” explains Wolfson. “The passion, creativity and commitment to excellence coming from the dedicated teams at our Manila-based headquarters continue to drive studio growth.”
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 https://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 for Top Draw Animation/Grom
Paul Ward
+1-917-0593-6066
Paul@gromsocial.com
