Photo courtesy of Top Draw Animation
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People are finally going back to the movies despite a pandemic that has been anything but kind to the entertainment industry. According to box office analyst Comscore SCOR, all signs are pointing to a return.
The company has reported that domestic ticket revenue for October hit $638 million, making it the biggest month for the movie industry since the start of the COVID-19 pandemic. Around the world, from Asia to Europe and Mexico, movie distributors are starting to roll out movies that were postponed due to the pandemic.
Big-experience companies like Imax Corp. IMAX also just had one of their best Octobers ever thanks to the release of “Dune” in the U.S. and China. “Dune” was responsible for more than 22% of the company’s record revenue, beating the previous October high of $83 million in 2013.
With companies expecting trends to go in the right direction, some smaller global companies are investing heavily and betting on an increasingly brighter post-pandemic season for movies, both action, and animation. Florida-based Grom Social Enterprises Inc. GROM says it has begun production with its subsidiary Top Draw Animation (TDA) on approximately $1 million in new projects through its animation studio in Manila, Philippines. The company has begun production on 2 new recurring episodic animated TV series, leveraging its staff of animation professionals.
Russell Hicks, TDA’s president, believes that developing animation will lead to long-term revenue opportunities for the company.
“Animation consistently delivers dedicated audiences because it’s typically timeless and escapist,” Hicks said. “Programmers rely heavily on their animated series, and Top Draw Animation is energized to help entertainment companies around the world bring this visually rich brand of storytelling to life. We have hundreds of animation experts and artists focused on feeding what we believe is an increasingly growing demand for animated entertainment.”
Grom acquired TDA in 2016 and serves as a critical part of its offerings, including safe social media for kids, school web filtering, and original family entertainment through its Curiosity Ink Media. TDA produces animated series, movies, specials, and short-form content for several global entertainment providers.
Employing more than 400 artists in its sprawling 30,000 square-foot studio campus in Manila, TDA has accumulated a portfolio of TV animation totaling more than 2,000 half-hour episodes.
The company states that it works in cooperation with the Film Development Council of the Philippines, Quezon City, and Manila local government and is benefitting from a post-pandemic return to entertainment and adhering to strict safety protocols. TDA has set a goal of having 80% of its staff vaccinated by the end of 2021.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
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