LA-based Genius Brands has announced that will change its name to Kartoon Studios on June 26 to reflect its shift towards becoming a production, distribution and licensing company.
The new movement is a ‘better fit’ according to the company’s focus on making and distributing cartoons for kids and licensing them for consumer products, said president and CEO Andy Heyward in a release.
Along with the name change, the company is moving its stock listing from the Nasdaq Capital Market to the NYSE American exchange.
Genius Brands has made several acquisitions in recent years, including Canadian animation company WOW! Unlimited Media and its subsidiaries Frederator Studios, Frederator Network and Mainframe Entertainment. GB also acquired SVOD platform Ameba TV, media agency group Beacon Media, and a significant stake in Germany’s Your Family Entertainment.
‘We now have capabilities to do everything in-house, from content creation to production, distribution and global merchandising’, said Heyward.
GB has also been buying and producing a lot of content lately for its Kartoon Channel! AVOD platform. Production started in March on 26 shorts based on the animated series Warren Buffet’s Secret Millionaires Club, and two months later the company acquired 2D-animated series Jeremy & Jazzy from Vérité Films. Additionally, company is co-developing a series called Blue Origin Space Rangers with Jeff Bezos’ Blue Origin and Michael Strahan’s SMAC Productions, as well as working with celebrity chef Wolfgang Puck on Wolfgang Puck’s Chef Academy.
The busy company also launched a new music division in January, and is aiming to establish new revenue streams for all of its acquired and original music.
