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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event
reported): April 10, 2024
KARTOON
STUDIOS, INC.
(Exact name of registrant as specified in its charter)
|
Nevada
(State or other jurisdiction
of incorporation or organization)
|
001-37950
(Commission File Number) |
20-4118216
(I.R.S. Employer Identification No.) |
190
N. Canon Drive, 4th Fl., Beverly
Hills, CA 90210
(Address of principal executive
offices) (Zip Code)
(310) 273-4222
Registrant’s telephone number, including area code
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
| Common Stock, par value $0.001 per share |
TOON |
NYSE American
LLC |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐
| ITEM 7.01 |
REGULATION FD DISCLOSURE |
On April 10, 2024, Kartoon Studios, Inc. (the
“Company”) issued two press releases, first announcing the expansion of their Stan Lee business with the launch of a dedicated
Stan Lee store on Amazon.com, followed by a press release announcing the launch of “Stan Lee Presents” on Youtube. On April
11, 2024, the Company issued a press release announcing that Kartoon Channel!’s streaming business achieved profitability through
the first two months of 2024. A copy of each press release is attached hereto as Exhibits 99.1, 99.2 and 99.3 and incorporated herein
by reference.
The information contained in this Item 7.01 including
Exhibits 99.1, 99.2 and 99.3 hereto, is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934 (the “Exchange Act”), as amended, or otherwise subject to the liabilities of that section, and such information
shall not be deemed to be incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended,
or the Exchange Act.
| ITEM 9.01 |
FINANCIAL STATEMENTS AND EXHIBITS. |
Forward Looking Statements
This Current Report on Form 8-K contains certain
statements which constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may,"
"might," "will," "should," "believe," "expect," "anticipate," "estimate,"
"continue," "predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes
these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release. These forward looking statements are based upon current estimates and
assumptions and are subject to various risks and uncertainties, including without limitation, our ability to generate revenue or achieve
profitability; our ability to obtain additional financing on acceptable terms, if at all; the potential issuance of a significant number
of shares, which will dilute our equity holders; fluctuations in the results of our operations from period to period; general economic
and financial conditions; our ability to anticipate changes in popular culture, media and movies, fashion and technology; competitive
pressure from other distributors of content and within the retail market; our reliance on and relationships with third-party production
and animation studios; our ability to market and advertise our products; our reliance on third-parties to promote our products; our ability
to keep pace with technological advances; our ability to protect our intellectual property and those other risk factors set forth in the
“Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and in the Company's subsequent filings
with the Securities and Exchange Commission. Thus, actual results could be materially different. The Company expressly disclaims any obligation
to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| |
KARTOON STUDIOS, INC.. |
| |
|
| Date: April 11, 2024 |
By: |
/s/ Andy Heyward |
| |
Name: Andy Heyward |
| |
Title: Chief Executive Officer |
Exhibit 99.1
KARTOON STUDIOS ANNOUNCES MAJOR EXPANSION OF
STAN LEE BUSINESS WITH LAUNCH OF DEDICATED STAN LEE STORE
ON AMAZON.COM
Powered by Meteor, Store Goes Live Today, Delivering
Broad Range of Products
Beverly Hills, California – April 10, 2024: Kartoon Studios
(NYSE AMERICAN:TOON), the controlling partner of “Stan Lee Universe, LLC,” launches a new dedicated Stan Lee storefront
on Amazon, powered by Meteor.
The Stan Lee storefront offers a collection of branded apparel and
merchandise with graphics paying tribute to the “godfather of comics.” The new Stan Lee storefront is one way the brand continues
to engage its digital community of fans.
“The launch of our first Stan Lee dedicated storefront with Amazon
and Meteor is game-changing for our brand because it offers an incredible, far- reaching, and trusted ecommerce store to provide Stan’s
legion of tens of millions of devoted fans globally, access for the first time to Stan Lee merchandise,” stated Andy Heyward,
Chairman & CEO of Kartoon Studios. “We are also providing the framework for recurring revenue and growth opportunities.
We look forward to building an engaged community and growing Stan Lee Universe both in the U.S. and globally.”
“We are honored to bring our 20 years of experience in building
fan engagement through merchandise and digital content to create an innovative experience for Stan Lee fans,” said Daniel Kim,
Founder of Meteor. “As a lifelong comic book nerd, this project is truly a dream come true to honor one of the greatest creative
visionaries of all time!”
“Stan Lee’s popularity and fan base continues to grow with
new generations of fans discovering his talent and magic, and we will continue to create opportunities for fans to engage whether it be
through the Amazon storefront or new products and experiences we have in the pipeline,” stated Lloyd Mintz, SVP of Global Consumer
Products, Kartoon Studios.
About Stan Lee
Known by his signature phrase “Excelsior!”, Stan Lee is
one of the most prolific and legendary creators of all time. As Marvel's editor-in-chief, Stan "The Man" Lee helped build a
universe of interlocking continuity, one where fans felt as if they could turn a street corner and run into a superhero from Spider-Man
to the Fantastic Four, Thor, Iron Man, the Hulk, the X-Men, and more. Stan went on to become Marvel’s editorial director and publisher
in 1972 and was eventually named chairman emeritus. He was the co-creator of characters appearing in 4 of the top 10 box office movies
of all time, which featured Spider-Man, Iron Man, the Hulk, Thor, Guardians of the Galaxy, Black Panther, and of course the Avengers,
accounting for billions of dollars of revenue for Marvel and the Walt Disney Company.
Among Stan’s many awards are the National Medal of Arts, awarded
by President Bush in 2008, and the Disney Legends Award, received in 2017. He was also inducted into the comic industry’s Will Eisner
Award Hall of Fame and Jack Kirby Hall of Fame.
About Kartoon Studios
Kartoon Studios (NYSE AMERICAN: TOON) is a global end-to-end creator,
producer, distributor, marketer, and licensor of entertainment brands. The Company’s IP portfolio includes original animated content,
including the Stan Lee brand, Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, on Kartoon Channel!; Shaq’s
Garage, starring Shaquille O’Neal, on Kartoon Channel!; Rainbow Rangers on Kartoon Channel! and Netflix; the Netflix Original, Llama
Llama, starring Jennifer Garner, and more.
In 2022, Kartoon Studios acquired Canada’s WOW! Unlimited Media
and made a strategic investment becoming the largest shareholder in Germany’s Your Family Entertainment AG (FRA:RTV), one of Europe’s
leading distributors and broadcasters of high-quality programs for children and families.
Toon Media Networks, the company’s wholly owned digital distribution
network, consists of Kartoon Channel!, Frederator Network, and Ameba. Kartoon Channel! is a globally distributed entertainment platform
with near full penetration of the U.S. television market and international expansion underway with launches in key markets around the
world, including Germany, Malaysia, India, Africa and Sub-Sahara Africa, Australia, New Zealand, Philippines, and Maldives. Kartoon Channel!
and Ameba are available across multiple platforms, including iOS, Android Mobile, Web, Amazon Prime Video, Apple TV, Amazon Fire, Roku,
Pluto TV, Comcast, Cox, Dish, Sling TV, Android TV, Tubi, Xumo, Samsung and LG Smart TVs. Frederator Network owns and operates the largest
global animation network on YouTube, with channels featuring over 2,000 exclusive creators and influencers, garnering billions of views
annually.
For additional information, please visit www.kartoonstudios.com
About Meteor
Meteor builds “physical to digital powered communities”. These blended reality experiences are an exciting new way
for brands and creators to engage with their biggest fans. For more information, visit https://meteor.land
# # #
Forward-Looking Statements: Certain statements in this press release
constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might,"
"will," "should," "believe," "expect," "anticipate," "estimate," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar expressions, or statements
regarding intent, belief, or current expectations, are forward- looking statements. While the Company believes these forward-looking statements
are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to
us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various
risks and uncertainties, including without limitation, our ability to generate revenue or achieve profitability; our ability to obtain
additional financing on acceptable terms, if at all; the potential issuance of a significant number of shares, which will dilute our equity
holders; fluctuations in the results of our operations from period to period; general economic and financial conditions; our ability to
anticipate changes in popular culture, media and movies, fashion and technology; competitive pressure from other distributors of content
and within the retail market; our reliance on and relationships with third-party production and animation studios; our ability to market
and advertise our products; our reliance on third-parties to promote our products; our ability to keep pace with technological advances;
our ability to protect our intellectual property and those other risk factors set forth in the “Risk Factors” section of the
Company’s most recent Annual Report on Form 10-K and in the Company's subsequent filings with the Securities and Exchange Commission
(the "SEC"). Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or
alter statements whether as a result of new information, future events or otherwise, except as required by law.
MEDIA CONTACT:
pr@kartoonstudios.com
INVESTOR RELATIONS CONTACT:
ir@kartoonstudios.com
Exhibit 99.2
KARTOON STUDIOS LAUNCHES
“STAN LEE PRESENTS” ON YOUTUBE
Newly Branded Global Channel with 300,000+
Subscribers
Pays Tribute to Stan Lee, Offering
Exclusive Content from and Inspired by the “Godfather of Comics”
“Stan Lee Presents” Channel Curated
by Stan’s
Longtime Collaborators, Including Originator and
Executive Producer of the Batman
Movie Franchise,
Michael Uslan
Beverly Hills, California – April 10, 2024: Paying tribute
to the legacy of the “godfather of comics” and the chief architect of the Marvel Universe, Kartoon
Studios (NYSE AMERICAN:TOON), the controlling partner of “Stan Lee Universe, LLC,” announced today the launch
of the “Stan Lee Presents” channel on YouTube,
with over 300,000 subscribers. The newly branded channel, formerly “Cinematica,” will be managed by Kartoon Studios’
subsidiary Frederator Networks, one of the largest animation networks on YouTube, with millions of subscribers and billions
of views annually.
“Stan Lee Presents” focuses on all things Stan Lee, including
content from Stan’s personal archives, digital Stan Lee comic books, interviews, behind-the-scenes footage, rarely seen historical
materials, as well as sneak peaks of upcoming Stan Lee Universe projects, clips, trailers, interviews, and more, available exclusively
on the channel. In addition to content of and around Stan Lee, “Stan Lee Presents,”
will also include programming curated from a broader cultural footprint of the world and fan base of Stan Lee. Kartoon Studios’
Frederator Networks plans to launch two new videos and select shorts each week with schedules expanding throughout 2024.
“Stan Lee Presents” will be curated by longtime Stan Lee
collaborator, Originator and Executive Producer of the Batman movie franchise, and comic
book historian Michael Uslan, and former POW! Entertainment editorial chief Kim Luperi, both of whom worked closely with
Stan through his most recent years. “Stan Lee Presents” will also liaise with studios to review the latest movies and series
as well as cover relevant pop culture trends on the channel.
“Stan Lee’s immense creativity, his relatable characters,
and his groundbreaking storytelling style had a significant global influence on the world of entertainment and pop culture, from Star
Wars to The Simpsons. To honor his incredible legacy, we are launching ‘Stan Lee Presents’ to continue to share
his vision of storytelling to his millions of fans around the world,” commented Andy Heyward, Chairman & CEO of Kartoon Studios.
“’Stan Lee Presents’ will also become a powerful revenue driver for the Company from the awareness and promotion of
the various Stan Lee/Stan Lee Universe consumer products coming to the marketplace this year through our newly launched dedicated Stan
Lee storefront on Amazon and other retail platforms.”
“We believe the next wave of great Stan Lee content will build
upon the success Stan enjoyed with the characters he created, and we are thrilled to launch a channel to showcase content directly to
Stan’s broad fanbase, including his 27+ million passionate followers across social media,”commented Todd Steinman, President
of Toon Media Networks, which includes Frederator Networks. “We will leverage Stan Lee’s significant social media footprint
and market across channels, expanding our audience while driving the fanbase to the new ‘Stan Lee Presents’ YouTube Channel.”
Known by his signature phrase “Excelsior!”, Stan Lee is
one of the most prolific and legendary creators of all time. As Marvel's editor-in-chief, Stan "The Man" Lee helped build a
universe of interlocking continuity, one where fans felt as if they could turn a street corner and run into a superhero from Spider-Man
to the Fantastic Four, Thor, Iron Man, the Hulk, the X-Men, and more. Stan went on to become Marvel’s editorial director and publisher
in 1972 and was eventually named chairman emeritus. He was the co-creator of characters appearing in 4 of the top 10 box office movies
of all time, which featured Spider-Man, Iron Man, the Hulk, Thor, Guardians of the Galaxy, Black Panther, and of course the Avengers,
accounting for billions of dollars of revenue for Marvel and the Walt Disney Company.
Building upon Kartoon Studios’ deal with Marvel, announced in
2022, to license the non-exclusive likeness of Stan to appear in Marvel films, and the separate license to the Walt Disney Company for
the non-exclusive license of Stan Lee’s likeness to be used in the Walt Disney theme parks, the Stan Lee brand business is rapidly
expanding across multiple divisions of the company. In addition to “Stan Lee Presents” channel on YouTube and the new digital
storefront on Amazon, Legible Comics will publish a new series of graphic novels this year with all the characters of Stan Lee Universe,
anticipated to debut at San Diego Comic-Con this summer.
About Kartoon Studios
Kartoon Studios (NYSE AMERICAN: TOON) is a global end-to-end creator,
producer, distributor, marketer, and licensor of entertainment brands. The Company’s IP portfolio includes original animated content,
including the Stan Lee brand, Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, on Kartoon Channel!; Shaq’s
Garage, starring Shaquille O’Neal, on Kartoon Channel!; Rainbow Rangers on Kartoon Channel!; the Netflix Original,
Llama Llama, starring Jennifer Garner, and more.
In 2022, Kartoon Studios acquired Canada’s WOW! Unlimited Media
and made a strategic investment becoming the largest shareholder in Germany’s Your Family Entertainment AG (FRA:RTV), one of Europe’s
leading distributors and broadcasters of high-quality programs for children and families.
Toon Media Networks, the company’s wholly owned digital distribution
network, consists of Kartoon Channel!, Frederator Network, and Ameba. Kartoon Channel! is a globally distributed entertainment platform
with near full penetration of the U.S. television market and international expansion underway with launches in key markets around the
world, including Germany, Malaysia, India, Africa and Sub-Sahara Africa, Australia, New Zealand, Philippines, and Maldives. Kartoon Channel!
and Ameba are available across multiple platforms, including iOS, Android Mobile, Web, Amazon Prime Video, Apple TV, Amazon
Fire, Roku, Pluto TV, Comcast, Cox, Dish, Sling TV, Android TV, Tubi, Xumo, Samsung and LG Smart TVs. Frederator
Network owns and operates the largest global animation network on YouTube, with channels featuring over 2,000 exclusive creators and influencers,
garnering billions of views annually.
For additional information, please visit www.kartoonstudios.com
About Frederator
Frederator, a subsidiary of Kartoon Studios (NYSE AMERICAN: TOON) comprised
of Frederator Networks and Frederator Studios, is a pioneer in streaming video and a leading independent producer of animation for
streaming services, linear television, and online video platforms.
Frederator Networks operates one of the largest global animation
networks on YouTube with over 2,000 channels, garnering billions of views annually. The networks include owned channels
such as Cartoon Hangover, Channel Frederator, The Leaderboard, which deliver hit content, including the
original seasons of Bee and Puppycat, Bravest Warriors and 107 Facts, to name a few.
Over the past 20 years, Frederator Studios has worked with leading
broadcasters and content platforms and produced many series and film shorts, including Butch Hartman’s The
Fairly OddParents on Nickelodeon, Pendleton Ward’s Adventure Time on Cartoon Network, Castlevania
on Netflix, and Natasha Allegri’s Bee and PuppyCat on Netflix. The studio currently has multiple projects in development,
such as Land of Boggs and Chikn’ Nuggit, in partnership with BuzzFeed Animation Lab, and an adult animated
series, starring comedy influencer Adam Waheed aka “Adam W.,” in partnership with Wheelhouse DNA.
For more information, please visit frederator.com
# # #
Forward-Looking Statements: Certain statements
in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such
as "may," "might," "will," "should," "believe," "expect," "anticipate,"
"estimate," "continue," "predict," "forecast," "project," "plan," "intend"
or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company
believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements,
which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates
and assumptions and are subject to various risks and uncertainties, including without limitation, our ability to generate revenue or achieve
profitability; our ability to obtain additional financing on acceptable terms, if at all; the potential issuance of a significant number
of shares, which will dilute our equity holders; fluctuations in the results of our operations from period to period; general economic
and financial conditions; our ability to anticipate changes in popular culture, media and movies, fashion and technology; competitive
pressure from other distributors of content and within the retail market; our reliance on and relationships with third-party production
and animation studios; our ability to market and advertise our products; our reliance on third-parties to promote our products; our ability
to keep pace with technological advances; our ability to protect our intellectual property and those other risk factors set forth in the
“Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and in the Company's subsequent filings
with the Securities and Exchange Commission (the "SEC"). Thus, actual results could be materially different. The Company expressly
disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required
by law.
To
Submit Review Screeners for Coverage Consideration on
Stan
Lee Presents, Please Email StanLeePresents@frederator.com
MEDIA CONTACT:
pr@kartoonstudios.com
INVESTOR RELATIONS CONTACT:
ir@kartoonstudios.com
Exhibit 99.3
KARTOON STUDIOS’ KARTOON CHANNEL!
STREAMING BUSINESS HITS PROFITABILITY MILESTONE
Record Breaking Subscriber Numbers in both January
and February
Surpassing Previous All-Time Highs
Free Trials and Conversions to Paid Subscriptions
Soared by Nearly 50% in February Compared to the Same Month Last Year
Beverly Hills, CA; April 11, 2024: Kartoon Studios (NYSE American:
TOON) today announced its direct to consumer streaming services, including Kartoon Channel!,
achieved profitability through the first two months of 2024, driven by sustained subscriber growth and streamlined operations. As recently
reported,
Kartoon Channel! achieved record revenue and EBITDA breakeven in the fourth quarter of 2023. Available on a wide array of platforms, Kartoon
Channel! has achieved remarkable domestic penetration, reaching nearly 100% of U.S. television households, as its momentum of growth continues.
“It has been less than four years since Kartoon Channel!’s
launch, and in that time, it has rapidly ascended to become a premier destination in children’s entertainment with a vast selection
of family-friendly content. The transition to profitability in that short time is a testament to Kartoon Studios' strategic focus on growing
our subscriber base, reducing customer acquisition costs, maintaining a lean operating infrastructure, and the fundamental safety of the
content. We are extremely proud of this major accomplishment, which many in our industry struggle to achieve. Moreover, we are extremely
encouraged by the outlook for the business, considering the fact that we had record-breaking subscriber numbers in both January and
February, surpassing previous milestones. We attribute the success of the channel growth to the exceptional leadership team, run by
Todd Steinman, President of Toon Media Networks,” stated Andy Heyward, Chairman and CEO of Kartoon Studios.
Kartoon Channel!’s app continues to excel in user satisfaction,
boasting a leading 4.9 out of 5 stars in the Apple App Store and outperforming other competitors in the industry.
This acclaim is a reflection of the channel's commitment to quality
and its diverse library of safe content, including popular titles like Stan Lee’s Superhero Kindergarten, Rainbow Rangers,
and Shaq’s Garage, as well as an expansive library of other leading titles.
Todd Steinman shared his enthusiasm for the channel's impact,
stating, "The positive reception from kids and parents has been tremendous. Our subscriber growth has witnessed a notable increase,
driven by programming like Rainbow Rangers attracting larger audiences for its third season, exclusively on Kartoon Channel! Free trials
and conversions to paid subscriptions soared by nearly 50% in February compared to the same month last year. As Kartoon Channel! continues
to expand, we remain committed to delivering safe, high-quality entertainment to families worldwide, guided by a strategy emphasizing
growth, compelling content, and viewer satisfaction. This approach will solidify Kartoon Studios' streaming business as a pivotal growth
driver for the Company in the years ahead.
Kartoon Channel! Worldwide is also expanding its reach internationally,
with dedicated channels and branded blocks in key markets around the world, representing a target audience of nearly 1.8 billion people.
This global expansion has not only broadened its audience but has also reinforced its position as a premier destination for safe children’s
content, worldwide.
“I would also like to express my gratitude to Paul Robinson,
President of Kartoon Channel! Worldwide, who has been pivotal in growing the international presence of the channel,” continued Heyward.
“His expertise, honed as Managing Director of Disney Channel Worldwide, has been instrumental in expanding our global footprint.
About Kartoon Channel!
Available everywhere and anywhere kids are today, Kartoon Studios’
Kartoon Channel! is a family entertainment destination that delivers 1000s of episodes of carefully curated and safe family-friendly content.
The channel features original content, including Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, Rainbow Rangers,
and Shaq’s Garage, starring Shaquille O’Neal and Rob “Gronk” Gronkowski. Kartoon Channel! also delivers animated
classics for little kids, such as Peppa Pig Shorts, Mother Goose Club, Barney and Friends, Om Nom Stories, as well as content for bigger
kids, like Angry Birds, Talking Tom & Friends and Yu-Gi-Oh! Kartoon Channel! also offers STEM-based content through its Kartoon Classroom,
including Baby Genius and more, as well as a Spanish language collection on the platform, KC En Espanol.
Kartoon Channel! is available across multiple platforms, including
iOS, Android Mobile, Web, Amazon Prime Video, Apple TV, Amazon Fire, Roku, Pluto TV, Comcast, Cox, Dish, Sling TV, Android TV, Tubi, Xumo,
Samsung and LG Smart TVs.
Internationally, Kartoon Channel! is currently available in key territories
around the world, including Africa and Sub-Sahara Africa (StarTimes), Australia and New Zealand (Samsung TV Plus), Germany (Waipu), Philippines
(Tapp Digital) and Maldives (Dhiraagu). Kartoon Channel! Branded blocks are also currently available daily in 61 countries across the
Middle East, Africa, Latin America, and Europe.
About Kartoon Studios
Kartoon Studios (NYSE AMERICAN: TOON) is a global end-to-end creator,
producer, distributor, marketer, and licensor of entertainment brands. The Company’s IP portfolio includes original animated content,
including the Stan Lee brand, Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, on Kartoon Channel! and Ameba;
Shaq’s Garage, starring Shaquille O’Neal, on Kartoon Channel!; Rainbow Rangers on Kartoon Channel! and Ameba; the Netflix
Original, Llama Llama, starring Jennifer Garner, and more.
In 2022, Kartoon Studios acquired Canada’s WOW! Unlimited Media
and made a strategic investment becoming the largest shareholder in Germany’s Your Family Entertainment AG (FRA:RTV), one of Europe’s
leading distributors and broadcasters of high-quality programs for children and families.
Toon Media Networks, the Company’s wholly owned digital distribution
network, consists of Kartoon Channel!, Frederator Network, and Ameba. Kartoon Channel! is a globally distributed entertainment platform
with near full penetration of the U.S. market. Kartoon Channel! and Ameba are available across multiple platforms, including iOS, Android
Mobile, Web, Amazon Prime Video, Apple TV, Amazon Fire, Roku, Pluto TV, Comcast, Cox, Dish, Sling TV, , Android TV, Tubi, Xumo, and Samsung
and LG Smart TVs. Frederator Network owns and operates one of the largest global animation networks on YouTube, with channels featuring
over 2000 exclusive creators and influencers, garnering billions of views annually.
For additional information, please visit www.kartoonstudios.com
# # #
Forward-Looking
Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might," "will," "should," "believe," "expect,"
"anticipate," "estimate," "continue," "predict," "forecast," "project," "plan,"
"intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements.
While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking
statements, which are based on information available to us on the date of this release. These forward looking statements are based upon
current estimates and assumptions and are subject to various risks and uncertainties, including without limitation, our ability to generate
revenue or achieve profitability; our ability to obtain additional financing on acceptable terms, if at all; the potential issuance of
a significant number of shares, which will dilute our equity holders; fluctuations in the results of our operations from period to period;
general economic and financial conditions; our ability to anticipate changes in popular culture, media and movies, fashion and technology;
competitive pressure from other distributors of content and within the retail market; our reliance on and relationships with third-party
production and animation studios; our ability to market and advertise our products; our reliance on third-parties to promote our products;
our ability to keep pace with technological advances; our ability to protect our intellectual property and those other risk factors set
forth in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and in the Company's subsequent
filings with the Securities and Exchange Commission (the "SEC"). Thus, actual results could be materially different. The Company
expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise,
except as required by law.
MEDIA CONTACT:
pr@kartoonstudios.com
INVESTOR RELATIONS CONTACT:
ir@kartoonstudios.com
v3.24.1.u1
Cover
|
Apr. 10, 2024 |
| Cover [Abstract] |
|
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8-K
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false
|
| Document Period End Date |
Apr. 10, 2024
|
| Entity File Number |
001-37950
|
| Entity Registrant Name |
KARTOON
STUDIOS, INC.
|
| Entity Central Index Key |
0001355848
|
| Entity Tax Identification Number |
20-4118216
|
| Entity Incorporation, State or Country Code |
NV
|
| Entity Address, Address Line One |
190
N. Canon Drive, 4th Fl.
|
| Entity Address, City or Town |
Beverly
Hills
|
| Entity Address, State or Province |
CA
|
| Entity Address, Postal Zip Code |
90210
|
| City Area Code |
(310)
|
| Local Phone Number |
273-4222
|
| Written Communications |
false
|
| Soliciting Material |
false
|
| Pre-commencement Tender Offer |
false
|
| Pre-commencement Issuer Tender Offer |
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|
| Title of 12(b) Security |
Common Stock, par value $0.001 per share
|
| Trading Symbol |
TOON
|
| Security Exchange Name |
NYSE
|
| Entity Emerging Growth Company |
false
|
| X |
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| Name: |
dei_AmendmentFlag |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
| Name: |
dei_DocumentPeriodEndDate |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:dateItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
| Name: |
dei_DocumentType |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:submissionTypeItemType |
| Balance Type: |
na |
| Period Type: |
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|
| X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
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| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Definition
+ References
+ Details
| Name: |
dei_EntityAddressCityOrTown |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionCode for the postal or zip code
| Name: |
dei_EntityAddressPostalZipCode |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionName of the state or province.
| Name: |
dei_EntityAddressStateOrProvince |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:stateOrProvinceItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityCentralIndexKey |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:centralIndexKeyItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionIndicate if registrant meets the emerging growth company criteria. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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dei_EntityEmergingGrowthCompany |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
| Name: |
dei_EntityFileNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:fileNumberItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
| Name: |
dei_EntityIncorporationStateCountryCode |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:edgarStateCountryItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
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| Period Type: |
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|
| X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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| Namespace Prefix: |
dei_ |
| Data Type: |
dei:employerIdItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionLocal phone number for entity.
| Name: |
dei_LocalPhoneNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
| Name: |
dei_PreCommencementIssuerTenderOffer |
| Namespace Prefix: |
dei_ |
| Data Type: |
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| Balance Type: |
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| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
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dei_PreCommencementTenderOffer |
| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
na |
| Period Type: |
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|
| X |
- DefinitionTitle of a 12(b) registered security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
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dei_ |
| Data Type: |
dei:securityTitleItemType |
| Balance Type: |
na |
| Period Type: |
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|
| X |
- DefinitionName of the Exchange on which a security is registered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
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dei_SecurityExchangeName |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:edgarExchangeCodeItemType |
| Balance Type: |
na |
| Period Type: |
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|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Section 14a
-Number 240
-Subsection 12
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dei_SolicitingMaterial |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
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|
| X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
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dei_TradingSymbol |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:tradingSymbolItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
| Name: |
dei_WrittenCommunications |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
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