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Jared Wolfson CEO of Grom Social Enterprises’ (NASDAQ: GROM) Curiosity Ink Media
Chief Executive Officer
As CEO of Curiosity Ink Media, Jared Wolfson is responsible for leading key initiatives, including; corporate vision, strategy and culture, partnerships and deal structuring, portfolio management, operations and finance, among others. A winning business development executive and marketing specialist in the Kids and Family industry for more than 20 years, Jared has built and managed numerous successful franchise properties, architected and driven multi-media marketing plans and initiatives powering record sales revenues and led development, production, and operational activities for studios, amassing hundreds of half-hours of entertainment content, in various formats and mediums.
GROM Interview (NASDAQ: GROM)
Could you please provide a brief overview of your company’s segments and operations?
We are an entertainment, technology and social media company dedicated to family-friendly programming, web filtering technology and safe, secure social media for kids.
GromSocial is poised and ready to entertain today’s kids and families. What makes us stand out is:
Our proprietary product line meets the growing demand for our safe, family friendly social media platform. Top-of-the-line educational services and world class 2D animation content.
Seasoned management team with deep sector expertise. Our diversified portfolio of IP will allow us to maintain an advantage over our competitors in order to preserve market share profits and barriers to entry. Cross platform synergies – Drive awareness distribution and series development to unlock many revenue opportunities. Network of strategic partnerships with blue chip organizations.
How will the partnership with WEP LLC on the Denver, The Last Dinosaur feature film help to expand Grom Social’s reach and influence in the entertainment market?
(Jared Wolfson) Denver, The Last Dinosaur, which originally released in the late 1980’s, in 120 different countries, with 50 x 30-minute episodes was a hit series in the kids 2-11 demographic, regularly beating out shows like; The Smurfs, Transformers, The Jetsons, My Little Pony, GI Joe, Popeye, Gumby, Yogi Bear and more. 25 – 30 years later, the kids that grew up on Denver have kids of their own. Additionally, with “retro” now being a relevant trend, and dinosaurs never going out of style, Denver is well positioned for a strong comeback. We are working wtih WEP to re-launch the retro Denver brand via social media and a ground swell of select licensing opportunities, while concurrently developing a 4-quadrant comedy-adventure feature film that is positioned to drive franchise success – all of which will greatly benefit Grom, Curiosity Ink Media, WEP and any of our invested partners.
Could you share more about the financial aspects of the co-production deal with WEP LLC, and how it is expected to impact Grom Social’s financial performance?
(Jared Wolfson) We have structured a 50-50 revenue sharing deal with WEP, as well as the opportunity to represent the licensing rights in and to the Denver, the Last Dinosaur property. With success, Grom and Curiosity Ink Media are positioned to generate significant revenue through content distribution, licensing of consumer products, digital games, publishing and various other categories of business.
How do you anticipate this co-production will add value to Grom’s brand in the context of the company’s overall strategy?
(Jared Wolfson) In the entertainment business, success begets success. The more momentum we continue to build and execute on, the more studios, networks, broadcasters, streamers, co-production partners and creators will desire to collaborate with Grom and Curiosity Ink Media. As we continue to move our portfolio of I.P. from development into production and distribution/broadcast, they are positioned to generate healthy streams of ongoing revenue.
How are you planning to monetize the partnership with WEP LLC, especially considering the potential consumer appeal in over two dozen retail categories?
(Jared Wolfson) As licensing agent for Denver, The Last Dinosaur, we are in the process of working towards as many targeted licensing relationships as possible, with the goal of building out awareness for the property and generating licensing revenues for both WEP and Grom / Curiosity Ink Media.
Could you elaborate on how the partnership opportunities presented at the International Licensing Expo 2023 will contribute to Grom Social’s growth strategy?
(Jared Wolfson) Licensing Expo is a healthy marketpace for which entertainment brands, lifestyle brands, character I.P.s and more are presented. Relationships that are formed and or nurtured through this trade event are crucial to the ongoing success of the business, as in many cases, partnerships and agreements build from meetings and discussions that commence during the Expo and build into real business opportunities in coming months. These partnerships may be as focused as a single category licensing deal, all the way up to the aquisition of a new property, or the forging of a larger scale business partnership or co-production agreement.
How does the licensing strategy for these properties align with Grom’s overall business model, and what are the anticipated benefits?
(Jared Wolfson) Grom and Curiosity Ink Media are firmly focused on maximizing the short, mid & long term value of our growing portfolio of original I.P. and partner brands & properties. Licensing is one of the key ways to generate revenue from an I.P. that appeals to an audience who has an affinity for a specific character or property and the desire to represent that character or property outside of it’s initially released form factor. In other words, in success, a TV series will spawn toys, games, publishing, apparel, drinkware, etc. We fully intend to exploit all potential opportunities in this space.
What are the targeted outcomes of the Licensing Expo in terms of securing new partnerships and expanding the company’s influence in the industry?
(Jared Wolfson) At Licensing Expo 2023, we were focused on our representation of Cepia’s Cats vs Pickles and the VS World, WEP’s Denver, the Last Dinosaur, our Santa.com digital/e-commerce platform, and any other potential relationships around the Curiosity Ink Media portfolio of properties. The shared booth presence was very strong, pulling in potential partners across many sides of the business. We fully intend to continue to evolve discussions from the expo in order to execute on all opportunities (licensing, co-production partnerships, etc).
Can you provide insight into the financial implications of these new licensing opportunities, especially as they relate to Cats vs Pickles, Denver, the Last Dinosaur, and Santa.com?
(Jared Wolfson) As a licensing agent, Grom/Curiosity Ink Media will receive an industry standard licensing agent fee off the top of all deals that are entered into, as well as receive this same percentage fee from the royalty revenues that are paid in by licensee partners as they sell their goods based on the licenses. In other words, if $1,000,000 in royalty revenues are set to be paid to our partner (Cepia or WEP) from the sale of goods based on their property, Grom/Curiosity Ink Media would receive roughly 25% or $250,000.
Can you explain the strategic rationale behind GROM Social’s equity stake/partnership in Toon2Tango?
(Jared Wolfson) For sake of clarity on this question, Grom/Curiosity Ink Media are equity partners with Toon2Tango on several properties, not stakeholders in Toon2Tango’s organization. When financing the production of any entertainment, there is strength in partners. For Santa.com and Hey Fuzzy Yellow!, Toon2Tango has been instrumental in helping to structure production financing through a combination of international subsidies and tax incentives, as well as foreign pre-sales and distribution partners.
How does the partnership with Toon2Tango align with GROM Social’s current business model and overall strategy?
(Jared Wolfson) Per above, this partnership supports obtaining production financing, distribution and our vision for long term success in being able to drive I.P. out into the marketplace with strong returns via distribution revenue, licensing revenue and more.
How much of an equity stake does GROM Social hold in Toon2Tango, and what are the financial implications of this partnership?
(Jared Wolfson) Per above, Grom/Curiosity Ink Media does not hold an equity stake in Toon2Tango, but rather both parties have equity shares in revenue streams generated from the properties that are partnered on.
Can you provide more information about the “Hey Fuzzy Yellow” project that Toon2Tango is undertaking, and how it will contribute to GROM Social’s portfolio?
(Jared Wolfson) Hey Fuzzy Yellow is an all-new preschool “edutainment” series that is now in production and slated to start airing globally as early as Spring 2025. Once Hey Fuzzy Yellow! hits air, the partnership fully anticipates growth into a very healthy franchise that benefits from the sale of multiple categories of licensing and merchandise.
What impact do you anticipate the partnership with Toon2Tango to have on GROM Social’s future growth prospects and earnings?
(Jared Wolfson) Partners like Toon2Tango are essential in being able to leverage strengths in production financing, global distribution and licensing around the world. We anticipate this relationship to be fruitful for Grom/Curiosity and our partners over the course of all of our projects.
How will GROM Social leverage its partnership with Toon2Tango to enhance its offerings and increase engagement among its target audience?
(Jared Wolfson) Circling back to the above answer about “momentum,” this partnership has supported entering into production on two key entertainment properties for Grom/Curiosity Ink Media, which will allow us to continue to build on this momentum with highly visible industry awareness.
Can you share any details about potential future projects that GROM Social and Toon2Tango might collaborate on?
(Jared Wolfson) Not at this time, but we do have a very healthy portfolio of projects in various stages of development, which will be ready for presentation to the studio/network/broadcast/co-production community later this year.
What is the target demographic for the “Hey Fuzzy Yellow” project, and how does this align with GROM Social’s existing user base?
(Jared Wolfson) Hey Fuzzy Yellow! is a preschool-targeted series (2 – 5), which has been designed to also achieve cult-classic status with parents and teens. It has a great sense of humor, vibrant character design, and a wonderfully fresh perspective, which we do believe will garner much acclaim.
Considering Toon2Tango’s recent major funding for the “Hey Fuzzy Yellow” project, how does this influence GROM Social’s financial outlook?
(Jared Wolfson) We believe the momentum that is generated by this partnership will benefit the ability to move other projects in the Grom/Curiosity Ink Media portfolio forward into production and distribution partnerships.
How will the partnership with Toon2Tango enhance GROM Social’s positioning in the market and differentiate it from competitors?
(Jared Wolfson) Per above, partners like Toon2Tango are essential in being able to leverage strengths in production financing, global distribution and licensing around the world. We anticipate this relationship to be fruitful for Grom/Curiosity and our partners over the course of all of our projects, as well as continue to keep Grom/Curiosity visibly relevant in the kids & family entertainment marketplace.
More on Grom Social Enterprises
Recent News
Grom’s Curiosity Ink Media Announces September Production Start for Theatrical Release of Santa.com Animated Movie Full Article
Grom’s Curiosity Ink Media Enters Production on New Global Preschool Entertainment Franchise, Hey Fuzzy Yellow! Full Article
Thank you for your time Jared.
Steve Macalbry
Senior Editor Best Growth Stocks
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