Kartoon Studios Announces Significant Increase in Content Production Planned for 2024

Chief Financial Officer Cites Initiatives Designed to Increase Revenue and Streamline Operations as Key Factors Expected to Drive Company Towards Sustained Profitability; Streaming Network, Kartoon Channel!, Continues Growth After Achieving Break Even in 2023

Slate of New Series and Movies in the Pipeline, Including Original IP from Stan Lee Universe, Blue Origin Space Rangers, & Chikn’ Nuggit

Former DreamWorks Animation, and Cartoon Network Creative Executive Gregg Goldin Appointed Senior Vice President, Development & Production

Beverly Hills, Calif., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Kartoon Studios (NYSE AMERICAN: TOON) announces a significant increase in content production and development planned for 2024 for the Company’s Kartoon Channel!, Frederator Networks, Mainframe Studios, as well as major broadcasters and streamers, including Netflix, Disney Channel, and others. The Company has also appointed Gregg Goldin, former creative executive at DreamWorks Animation, Cartoon Network and MTV, to the newly created position of Senior Vice President, Development & Production.

Kartoon Studios kicks off 2024 with a roster of properties in production and/or development, including Stan Lee’s Cosmic Crusaders and three series for Frederator Networks: Land of Boggs; Chikn’ Nuggit, in partnership with BuzzFeed Animation Lab; and an adult animated comedy series in partnership with Wheelhouse DNA, starring internet sensation Adam W, who was named one of “The 20 Most Influential Creators” by Rolling Stone Magazine with over 50 million followers across his channels.

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. Goldin will report jointly to Kartoon Studios’ Chairman & CEO Andy Heyward and COO Michael Jaffa.

Brian Parisi, Chief Financial Officer, commented, “We have significantly streamlined our operations and have built a highly scalable infrastructure. With the increase in content production and other initiatives to be announced in early 2024 to drive revenue, we are well on our way to achieving our goal of sustained profitability. It should be noted that our streaming service Kartoon Channel! achieved break even in 2023, only three years after launch, and is expected to move to profitability in 2024, alongside Netflix. Kartoon Channel! continues to dominate the User Rankings in the Apple app store among all services delivering kids’ content.”