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Online entertainment abounds, for adults and children alike. The problem for children can sometimes be whether the content is actually safe for them.
GROM Social Enterprises Inc. GROM, a Florida-based entertainment, technology, and social media company that aims to provide age-appropriate content for kids by producing its own family-friendly programming, is focusing on cultivating original intellectual property (IP) for the highly lucrative preschool market.
One example is the development of “Baldwin’s Big Adventure” franchise, the story of a young and fearless train with a giant heart who embarks on a journey with his pal to reunite with his father. The project revolves around an animated preschool series and an accompanying book that’s destined for shelves this spring.
The opportunity to serve families through preschool entertainment is reflected in GROM’S recent acquisition of Curiosity Ink Media, a multiplatform original content creator for children, which Grom acquired in 2021.
The “Baldwin’s Big Adventure'' franchise is in partnership with Germany’s Toon2Tango, a Munich-based production company that specializes in the development and distribution of family content throughout the world. Additionally, Toon2Tango will help Curiosity tailor the show to accommodate local cultural and language needs.
The First of Many?
GROM brought Curiosity Chief Content Officer Russell Hicks on board as part of the acquisition. Hicks, a former ViacomCBS Inc. VIAC-owned Nickelodeon veteran who helped cultivate blockbuster hits such as “SpongeBob SquarePants” and “Dora the Explorer” is now hard at work developing the preschool side of GROM’s entertainment offerings, along with other responsibilities. The “Baldwin’s Big Adventure” project is expected to be the first of many – including the recently announced animated musical series “Aloha Hoku” – with the goal of creating a TV hit that helps unlock numerous other revenue-producing opportunities.
“We see an enormous global potential for “Baldwin's Big Adventure” and are excited to partner with the experts from Toon2Tango to bring this franchise to life," Hicks said at the time the franchise was announced. "Their dedication to storytelling through compelling custom animation makes them the ideal partner to cultivate this emerging property and serve as a gateway to revenue-generating opportunities presented by the success we envision for this title."
Franchise success can lead to multiple other opportunities, Hicks said. Most toy products, for example, are sold in the 2- to 8-year-old age range and, by developing preschool content and licensing other related products, it can help build a brand that lasts beyond the early years of a child’s life, according to Hicks.
“It’s very important to build a brand that can last a lifetime,” Hicks told Benzinga. “Kids want to play with related toys outside of a television show or wear the same apparel — all the things that come out of licensing.”
The increasing focus on preschool content is not unique to GROM. Major players in the entertainment industry are also upping the ante in the growing field.
In its latest quarterly results, Walt Disney Co. DIS said there would be a renewed focus on preschooler content. Netflix Inc. NFLX is another content provider boosting its preschooler range.
"Subscription-based programmers have become aware of the considerable opportunities a preschool hit can represent," explains Cheryl Gotthelf, President of Cheryl Gotthelf Consulting. "A successful property can not only add to -- and retain -- your subscriber base, but also unlock other potentially lucrative revenue streams including consumer products, licensing, merchandising and even experiential touch points such as live theatrical touring."
This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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