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Kartoon Studios Inc. (TOON-0.62%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations, including its focus on producing and distributing children's content and providing media advisory and advertising services. The company operates through its segments: Content Production and Distribution, and Media Advisory and Advertising Services.
For the fiscal year 2024, Kartoon Studios reported total revenues of $32.6 million, a decrease from $44.1 million in 2023. The decline in revenue was primarily attributed to lower production services and content distribution revenues.
The company recorded a net loss of $20.7 million for the year, an improvement from the $77.1 million net loss in 2023. The improvement was largely due to reduced impairment charges and operating expenses.
Kartoon Studios' production services revenue decreased by 33% to $17.9 million, primarily due to a lower volume of animation production services projects.
Content distribution revenue fell by 18% to $9.6 million, mainly due to reduced revenue from Frederator's creator network on YouTube.
Licensing and royalties revenue decreased by 54% to $0.3 million, reflecting lower earnings from consumer products and music licensing agreements.
Media advisory and advertising services revenue remained relatively stable, with a slight decrease of 2% to $4.8 million.
The company highlighted several strategic initiatives, including a $30 million joint venture for a 'Winnie-the-Pooh' project and the development of 'Andrew The Big BIG Unicorn,' an animated children's series.
The filing also notes the company's efforts to manage liquidity, including raising $4 million and $4.5 million through securities offerings in April and December 2024, respectively.
Kartoon Studios continues to focus on expanding its content production footprint and leveraging strategic partnerships in key international markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Kartoon Studios Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.