Kartoon Studios Announces Increase In Content Production Planned For 2024; CFO Cites Initiatives Designed To Increase Revenue And Streamline Operations As Key Factors Expected To Drive Company Towards Sustained Profitability
Portfolio Pulse from Benzinga Newsdesk
Kartoon Studios (NYSE:TOON) plans to increase content production in 2024, aiming for sustained profitability. Initiatives to boost revenue and streamline operations are cited as key factors. The company's streaming service, Kartoon Channel!, achieved breakeven in 2023 and is expected to be profitable in 2024. New series and movies are in the pipeline, including original IP from Stan Lee Universe. Gregg Goldin, with experience from DreamWorks Animation and Cartoon Network, is appointed as Senior Vice President, Development & Production.
January 22, 2024 | 2:04 pm
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Kartoon Studios is set to increase content production in 2024, with a focus on profitability. The appointment of Gregg Goldin as SVP of Development & Production is expected to bolster the company's creative direction.
The announcement of increased content production and the appointment of a seasoned industry executive like Gregg Goldin are positive indicators for Kartoon Studios' future growth and profitability. This strategic move, along with the breakeven of Kartoon Channel!, is likely to be viewed favorably by investors, potentially leading to a short-term increase in stock price.
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