Kartoon Studios Continues Execution of Growth Strategy With Profitability Targeted for Q2 2025; Provides Business Update for the First Quarter of 2024
With the implementation of AI in production, we will continue to see margins increase and opportunities to expand our catalog of evergreen animation.
- With the implementation of AI in production, we will continue to see margins increase and opportunities to expand our catalog of evergreen animation.
- In the first quarter of 2024, our direct-to-consumer streaming services, including Kartoon Channel!, achieved profitability, driven by sustained subscriber growth and streamlined operations, showing month-over-month improvements continuing throughout the quarter and projected to continue growing.
- has achieved extraordinary domestic penetration, reaching nearly 100% of U.S. television households, as its growth continues.
- We are managing towards a strong future and look forward to the Company’s prospects.”
Kartoon Studios reported revenue of $6.1 million for the quarter ended March 31, 2024.