Subscription Video On Demand (SVOD) Industry Is Booming As Consumers Turn Away From Cable
PALM BEACH, Fla., April 7, 2021 /PRNewswire/ — Subscription Video on Demand is a booming industry for many reasons. It empowers consumers to pay for only the content that they want, a major reason why audiences are turning away from cable and other traditional providers. Also, it provides businesses a direct line of revenue from consumers without having to consult or sell to advertisers. This has the added benefit of relieving users from annoying ad interruptions. Subscription Video on Demand (SVoD) is a subscription-based service that enables users to have unlimited access to streaming video content for any given period of time at a routine fee. Through SVoD, customers have control over the content they want to watch. They can decide when to start or pause the program. They also get the option of fast forwarding, rewind, or stop the video at their wish. Through this service, high-quality content is available on-demand, anytime, and anywhere directly on the customer’s television set. SVoD services include Amazon Video, Netflix, Now TV, Hulu Plus, TVPlayer, etc. These services have drawn a lot of attention from end-users for their diversified content that includes sports, web series, and movies. Active Companies in the markets today include Grom Social Enterprises, Inc. (OTCQB: GRMM), The Walt Disney Company (NYSE:DIS), Netflix, Inc. (NASDAQ: NFLX), Facebook, Inc. (NASDAQ: FB), Genius Brands International, Inc. (NASDAQ: GNUS).
A report from Transparency Market Research said: “Developments in digital technology have transformed the digital video consumption platforms. At present, there are multiple platforms, such as mobiles, tablets, and smart TVs, to access video on demand services. Moreover, with increasing pool of viewers, demand for personalized content to control and select viewing as desired has led to a recognizable adoption of video on demand systems, which is expected to grow further in the long term. Video on demand service providers are laying emphasis on enhancing delivery technologies to enhance viewer experience. Moreover, with improved speed of networks for digital transmission, video on demand service providers are delivering high-definition videos at a faster streaming rate to viewers.
Grom Social Enterprises, Inc. (OTCQB: GRMM) BREAKING NEWS: GROM SOCIAL ENTERPRISES, INC. TO ACQUIRE FAMILY-FRIENDLY CONTENT CREATOR CURIOSITY INK MEDIA – Grom Social Enterprises, Inc. (Grom the “Company”, “we”, “us”, or “our”), today announced it has entered into a binding letter of intent to acquire kids and family entertainment company, Curiosity Ink Media, LLC (“Curiosity”) – a producer and developer of original kid-friendly content – to complement the Company’s existing offerings of brand-safe social media for kids, animation production and web filtering for schools, government agencies and private businesses. Additionally, Grom appointed two former Nickelodeon executives – Curiosity’s President Russell Hicks and Paul Ward — to lead the Company’s animation, social media and educational divisions. An emerging platform and content provider of entertainment for kids under 13 years old, the Company’s subsidiary, Grom Social, Inc. (“Grom Social”), provides a secure social media venue for kids that is monitored around the clock and invites parents and guardians to play an active role in a child’s social media activities. The announcements were made by Darren Marks, Grom’s Chairman and Chief Executive Officer.
The Company believes that the addition of Curiosity would enable Grom to explore original programming, including serving as an original content pipeline for Subscription Video On Demand (SVOD) services and others looking to fortify their content offerings with kid and family-friendly programming. Additionally, the Company anticipates that the acquisition would unlock the potential for Grom to create cross-platform synergies whereby Curiosity’s content can debut on Grom Social, gain user feedback and help inform series development.
“We expect that the acquisition of Curiosity will strengthen our foothold in original content production and allow us to explore synergies across our animation, social media and educational services while fortifying our mission to serve kids and families in a variety of ways,” said Marks. “We believe the arrival of Russell and Paul to drive Grom’s portfolio, along with the addition of Curiosity Ink Media, will be a watershed moment for us. We are energized and elated by the possible opportunities the addition of Russell, Paul and Curiosity Ink Media represent.”
As Chief Content Officer of Grom, Hicks will continue to oversee Curiosity Ink Media’s original film, television and publishing projects, in addition to his new role as President of Grom’s subsidiary, Top Draw Animation, Inc. {“Top Draw”). Top Draw boasts a 22-year history as an animation producer of several series including Tom & Jerry, The Hollow, Monster Beach and Penn Zero, among others. Hicks will join Top Draw’s Chief Executive Officer and founder, Wayne Dearing, and the studio’s Executive Senior Vice President, Stella Dearing, in combining original animation with the company’s legacy role as a producer of animated content.
Ward will assume two roles for Grom. In the newly-created position of President of Grom Social, Ward is charged with building on the success of Grom’s emerging COPPA-compliant social media platform, which is designed to engage kids while educating users about the importance of Internet safety. As Executive Vice President, Social Enterprises, Ward will spearhead the evolution of the Company’s subsidiary, Grom Educational Services, Inc., a provider of web-filtering services used in education, government and private businesses.
The Company anticipates that, together, Hicks and Ward will identify and champion synergistic opportunities across Grom’s portfolio. Both veterans of kids’ and family entertainment, Hicks and Ward served as executives with Nickelodeon and Nick at Nite during the combined network’s historic, uninterrupted 13-year run as the number one network in ad-supported cable television. For more information about Grom Social Enterprises please visit https://gromsocial.com/
Other recent developments in the markets include:
The Walt Disney Company (NYSE:DIS) recently said it Topped 100 Million Global Paid Subscriber Milestone. The Service is Available in 59 Countries around the World and Features an Impressive Collection of High-Quality Content from Disney’s Content Studios. Disney+ has surpassed 100 million global paid subscribers in just 16 months since its launch, Bob Chapek, Chief Executive Officer, The Walt Disney Company (NYSE: DIS), announced during the Company’s virtual Annual Meeting of Shareholders.
“The enormous success of Disney+ —which has now surpassed 100 million subscribers—has inspired us to be even more ambitious, and to significantly increase our investment in the development of high-quality content,” Mr. Chapek said. “In fact, we set a target of 100+ new titles per year, and this includes Disney Animation, Disney Live Action, Marvel, Star Wars, and National Geographic. Our direct-to-consumer business is the Company’s top priority, and our robust pipeline of content will continue to fuel its growth.”
Netflix, Inc. (NASDAQ: NFLX) recently announced it will post its first-quarter 2021 financial results and business outlook on its investor relations website on Tuesday, April 20, 2021, at approximately 1:00 p.m. Pacific Time. At that time, the company will issue a brief advisory release via newswire containing a link to the first-quarter 2021 financial results and letter to shareholders on its website.
A video interview with Netflix co-CEO Reed Hastings, co-CEO & Chief Content Officer Ted Sarandos, Chief Financial Officer Spence Neumann, COO & Chief Product Officer Greg Peters and VP, IR & Corporate Development Spencer Wang will be available at 3:00 p.m. Pacific Time. The discussion will be moderated by Nidhi Gupta, Fidelity Management & Research Co., with questions submitted via email.
Netflix is the world’s leading streaming entertainment service with 204 million paid memberships in over 190 countries enjoying TV series, documentaries and feature films across a wide variety of genres and languages. Members can watch as much as they want, anytime, anywhere, on any internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments.
Facebook, Inc. (NASDAQ: FB) recently announced that the company’s first quarter 2021 financial results will be released after market close on Wednesday, April 28, 2021.
Facebook will host a conference call to discuss its results at 2 p.m. PT / 5 p.m. ET the same day. The live webcast of the call can be accessed at the Facebook Investor Relations website, along with the company’s earnings press release, financial tables, and slide presentation.
Genius Brands International, Inc. (NASDAQ: GNUS) recently announced a collaboration with Marvel Studios where Marvel Studios has licensed from Genius Brands certain likeness rights to Stan Lee in support of exciting future marketing content celebrating the legacy of Marvel Studios. This initiative between Genius Brands and Marvel Studios using the assets of Stan Lee is the first collaboration between the companies. The companies are also discussing ways to work together on other Stan Lee related initiatives in the future.
Genius Brands, through “STAN LEE UNIVERSE”, its recently announced joint venture with POW! Entertainment, LLC, controls the Stan Lee name, the animated and live Stan Lee likeness, the Stan Lee signature, as well as the broad Stan Lee brand/Stan Lee Presents, and a variety of Stan Lee properties created post Marvel.
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