Darren Marks, CEO Grom Social Enterprises
Full Inteview
Could you give us a brief overview of the company and subsidiaries for those that are not familiar?
Grom Social Enterprises, Inc. (NASDAQ: GROM) is a growing social media platform and original content provider of entertainment for children under 13 years of age, which provides safe and secure digital environments for kids that can be monitored by their parents or guardians. The Company has several operating subsidiaries, including Grom Social, which delivers its content through mobile and desktop environments (web portal and apps) that entertain children, let them interact with friends, access relevant news, and play proprietary games while teaching them about being good digital citizens. The Company owns and operates Top Draw Animation, which produces award-winning animation content for some of the largest international media companies in the world. The company owns an 80% stake in Curiosity Ink Media, which is a global media company that develops, acquires, builds, grows and maximizes the short, mid, and long-term commercial potential of Kids and Family entertainment properties and associated business opportunities. Grom also includes Grom Educational Services, which has provided web filtering services for K-12 schools, government and private businesses.
The Santa.Com Movie appears to be Grom’s next major theatrical release as it is already in the production phase. What are the anticipated revenue streams and their structure?
1. Home Entertainment: Movies generate revenue through sales and rentals of DVDs, Blu-rays, and digital downloads. Streaming platforms also acquire rights to stream movies, contributing to this revenue stream.
2. Television and Cable Broadcasting: Movies can be sold to television networks or cable channels for broadcasting rights. This includes both network TV and cable syndication.
3. Streaming Services: With the rise of streaming platforms, movies can be licensed to streaming services for on-demand viewing. This has become a significant revenue source in the modern entertainment landscape.
4. Merchandising: Successful movies often lead to merchandising opportunities. This includes the sale of products related to the movie, such as toys, clothing, and other branded items.
5. Licensing and Syndication: Movies can generate revenue through licensing their intellectual property. This includes licensing characters or content for use in video games, theme park attractions, and other media.
6. International Sales: Movies can be sold for distribution in international markets, contributing to global box office revenue.
7. Product Placement: Some movies feature product placement, where brands pay to have their products prominently displayed within the film. This can be an additional source of income.
8. Grants and Subsidies: In some cases, movies may receive grants or subsidies from government agencies or film funds to support production.
9. Awards and Nominations: Winning or being nominated for prestigious awards can lead to increased box office sales and subsequent revenue.
Santa.com and American Greetings Collaboration: Can you elaborate on the strategic objectives behind the partnership with American Greetings for Santa.com, and how has this collaboration affected product sales?
Our Key strategic objectives are (A) Generate revenue through sales of American Greetings product on Santa.com, (B) Utilize association with American Greetings brand equity and exposure to bring credibility and audience to Santa.com, (C) Generate potential ongoing advertising revenue opportunities. Limited American Greetings products were sold on Santa.com in 2023, with the objective of increasing scope and product sales velocities in 2024.
Cats’ vs Pickles Licensing Deal Impact: How has the licensing deal with Well Played Toys for Cats vs Pickles impacted your company’s product sales, strategy, and what has been the market’s response?
Curiosity Ink Media (CIM) brokered the Cats vs Pickles licensing deal with Well Played Toy (WPT), on behalf of Cepia’s Cats vs Pickles toy brand/property. CIM will benefit from a licensing agent fee which accounts for approximately 30% of the licensing revenue that is paid to Cepia. WPT has paid a $15,000 advance license fee (which CIM received it’s 30% share of) and is expected to begin shipping product Q1, with potential reorders throughout 2024. The first shipment of WPT’s licensed Cats vs Pickles product is planned to be on shelves for Easter 2024.
Global Strategy and Brand Extension: With the commencement of production on ‘Hey Fuzzy Yellow!’, what is Grom’s strategy for establishing this series as a global preschool entertainment franchise, and what specific brand extension opportunities are you exploring to maximize its impact and reach?
Global content distribution agents are working, with Toon2Tango and CIM consultation, to establish placement on the strongest preschool channels and/or streaming platforms around the world. With best-in-class broadcast/streaming placement, Hey Fuzzy Yellow is positioned for; broad exposure, growing brand affinity and the desire for children to consume Hey Fuzzy Yellow in ancillary products outside of the series (toys, games, publishing, apparel, etc).
Which titles in your portfolio get you excited in terms of future revenue and why?
We’re currently in the production phase of two promising projects with substantial growth potential: Santa.com feature film and Hey Fuzzy Yellow. Our collaboration with Toon2Tango, a global production and distribution powerhouse, adds significant value to our ventures. Furthermore, we’ve secured ownership of the Santa.com domain, a comprehensive shopping and entertainment e-commerce platform tailored to meet all your holiday needs.”
In closing, is there anything in the works you would like to touch on for our distribution?
2nd quarter 2024. look for the re-launch of our kids app Grom Social.
Big social consistently fails to provide a safe social experience for kids under 13 – who are not supposed to have accounts by law. However, lax sign-up invites kids to create accounts without parental consent. Thanks to pending legislation and growing consumer outrage, the world is finally taking the necessary steps to keep kids safe on social media… something Grom has been doing since 2012!
Bi-partisan support, lead by Senator Blackburn (R-Tenn) and Senator Blumenthal (D-Conn), aims to hold big social accountable and prevent kids under 13 from creating accounts.
The White House announced earlier this year that protecting kids on social is a major priority.
Grom was welcomed by Trump White House officials, guests of New Jersey Gov. Phil Murphy as well as Senator Corey Booker.
California is leading the way with new laws – and heavy fines – for media companies that fail to help protect our kids on their platforms.
Ohio has proposed new law requiring parental consent for kids under 16 to access social.
Wow, thanks for that great insight into the future of Grom Social and thank you for your time.
For more information on Grom Social Enterprises visit:
EF Hutton Analyst Research Report and Price Target
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