Kartoon Channel! Growth Surges

Kartoon Studios
Kartoon Studios

In This Article:

PROFITABILITY TREND IN Q2 2024 CONTINUES BUILDING ON GAINS FROM 2023 AND Q1 2024

Kartoon Channel!'s Paid Subscribers on Amazon Prime Video Grows by 120% Year-Over-Year from June 2023 – June 2024

Premier Entertainment Destination for Kids, Now Carried on 16 Platforms in US; Goal of Growing into a ‘Netflix for Kids’ Becoming a Reality

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BEVERLY HILLS, Calif., July 11, 2024 (GLOBE NEWSWIRE) -- Kartoon Studios (NYSE American: TOON) continues to deliver on its mission to grow Kartoon Channel! into a premier entertainment destination for kids, as the platform continues growing profitability, platform carriage, and paid subscriber growth entering Q3 2024.

As previously announced, after four years of investment in content, infrastructure, and marketing, Kartoon Channel! reached breakeven at the end of 2023 and became profitable in Q1 2024. Kartoon Channel!’s paid subscriber growth on Amazon Prime Video surged by 120% from June 2023 – June 2024. Over the same time period, the platform achieved a 28% year-over-year growth in paid direct-to-consumer streaming subscribers across all its streaming services which include Apple iOS, Amazon Prime, Amazon Fire, Android TV, Android Mobile, Tubi, Roku, Pluto, Xumo, Comcast, Cox, Dish, Sling, Samsung, and LG Smart TVs.

Kartoon Channel! subscriber growth and projected growth.
Kartoon Channel! subscriber growth and projected growth.


Above: Kartoon Channel! subscriber growth and projected growth.

Andy Heyward, Chairman & CEO of Kartoon Studios commented: “We are now witnessing ongoing month-over-month growth for Kartoon Channel! This growth has been fueled by management, led by Todd Steinman, President of Kartoon Studios’ Toon Media Networks, as well as a carefully executed strategy, and ongoing expansion of network coverage. As a provider of compelling original content combined with curated acquisitions, Kartoon Channel! has now firmly established itself as a premier destination for young viewers. In the children’s media landscape, we are witnessing the third wave of television distribution, as children migrated from Saturday morning network television, to children’s cable TV, à la Nickelodeon, and now to streaming, with Kartoon Channel! positioning itself to be at the forefront of this streaming revolution for kids.”

Heyward added: “The first stated goal of building a children’s channel system that would be nothing less than a ‘Netflix for Kids’ is becoming a reality. We believe Kartoon Studios’ streaming business (including Ameba) is poised to become a pivotal revenue driver for the company for years ahead. Unlike YouTube, which has endless content, Kartoon Channel! provides highly curated content, which means it is SAFE. We witness this not only in our growth numbers and improved profitability, but also in the published rankings from viewers in the Apple App store.”