Why Social Media & Online Entertainment Content Users Are Focusing More on Developing 3D Animated Content

PALM BEACH, Fla., July 29, 2021 — (PRNewswire) — FinancialNewsMedia.com News Commentary - Social media and online communications and marketing campaigns, have utilized more content, both video and audio… and lately animation… across all platforms. Consumers buy more products and services, and educators and marketers can get their points across with video and animations. 3D animation is a growing tool for online and social media users. 3D animation is a method in which pictures or images are manipulated to appear as moving object. In addition, animation is an illusion created by showing a series of pictures in rapid succession. It is used for color grading, concept art, match moving, compositing, 3D modelling, rotoscoping, and matte painting. One of the major advantages of animation include conveying complex information to customers in simplest format, without an internet connection. Moreover, rise in the use of 3D mapping technology in navigation and geospatial analysis is expected to create lucrative opportunities for the market growth.   A report from Allied Market Research said that the global 3D animation market was valued at $14.08 billion in 2018, and is projected to reach $33.78 billion by 2026, growing at a CAGR of 11.60% from 2019 to 2026.   Active Companies in the markets today include Grom Social Enterprises, Inc. (NASDAQ: GROM), The Walt Disney Company (NYSE: DIS), Cinemark Holdings, Inc. (NYSE: CNK), iQIYI, Inc. (NASDAQ: IQ), Gaia, Inc. (NASDAQ: GAIA).

The Allied Market Research report said: "The 3D modelling segment dominated the 3D animation market industry in 2018 and is projected to maintain its dominance during the forecast period, owing to its usage in different industry vertical for generating pictorial image of the image. Furthermore, visual effects segment is expected to grow at a significant CAGR during the forecast period, owing to the rise in demand for visual effects solutions for producing the Sci-fi, fictional movies, and reducing the production cost of films.  The media & entertainment sector dominated the 3D animation market industry in (recent years)  and is projected to maintain its dominance during the forecast period, owing to the increase in adoption of animation for attracting the customers and providing a realistic view in the movies. Furthermore, the healthcare sector is expected to grow at a significant CAGR during the forecast period, owing to its numerous benefits developing the different medical areas such as marketing, education and patient's communication."

Grom Social Enterprises, Inc. (NASDAQ: GROM) BREAKING NEWSGROM SOCIAL ENTERPRISES, INC. AGREES TO ACQUIRE MAJORITY CONTROL OF KIDS AND FAMILY CONTENT CREATOR CURIOSITY INK MEDIA LLC - Grom Social Enterprises, Inc. today announced it has entered into a definitive purchase agreement to acquire 80% of the equity and control of Curiosity Ink Media LLC ("Curiosity" or "CIM") - a producer and developer of original kids and family content – which is expected to complement the Company's existing offerings of brand-safe social media for kids, animation production and web filtering solutions. Upon completion of the acquisition, Grom will retain one of the key architects of Curiosity's early success, Brent Watts, in his current role as Chief Creative Officer, where he will continue to cultivate storytelling IP for Curiosity and provide visual design acumen for the studio. The announcement was made by Darren Marks, Grom's Chairman and Chief Executive Officer. Closing of the purchase transaction is subject to certain regulatory and other customary closing conditions, and is expected to take place in mid-August 2021.

The acquisition will bring Curiosity's original IP catalog to the Company's portfolio of assets, with Watts helping to spearhead Curiosity's migration into the Grom family. Watts will again join Russell Hicks, one of Curiosity's founders, whose role as Chief Content Officer and President of Top Draw Animation, Inc. was announced in April.  Since its inception in 2017, Curiosity has fostered multiplatform storytelling content in publishing, preschool entertainment, series development, feature film franchises and ancillary revenue opportunities.

Curiosity recently unveiled a host of initiatives that are expected to bring its multiplatform IP to market for consumers everywhere in the coming months and years. Some of the projects that CIM recently announced include: a collaboration with global toy company Cepia LLC to develop the hit online shorts Cats vs. Pickles into a television series; and an original animated holiday musical feature Santa.com, which will serve as a companion to a Santa.com virtual holiday hub and ecommerce initiative.  Additionally, CIM will foray into publishing with new partner Dynamite Entertainment, to create books for kids rooted in Curiosity's original IP and other brands, kicking off with PAW PatrolTM and Baldwin's Big Adventure, which is being developed into an animated preschool series.

"We believe bringing Curiosity Ink Media and Brent Watts into the Grom family furthers our mission to serve today's kids and families in new and exciting ways," explains Marks. "Incredible IP, being championed by several proven kids' entertainment executives, underscores our commitment to premium content that we believe unleashes significant opportunities to boost and expand our portfolio." 

Watts will continue to guide Curiosity's design, content acquisitions, synergy and overall growth strategy. Earlier in his career, he founded and served as Executive Creative Director for Struck – the award-winning boutique design and advertising agency specializing in breakthrough brand building, design, experiential spaces and digital engagement. While there, Watts made his mark through innovative design solutions on behalf of the agency's blue-chip clientele, including Pinterest, McDonald's, Disney, Warner Bros. Paramount Pictures, Sony Corp., Universal Pictures and DreamWorks SKG. Watts was the creative force behind Will.i.am's Wizards and Robots and award-winning title designs for films such as Lemony Snicket's A Series of Unfortunate Events, and Universal's Land of the Lost.  Also, his versatility allowed him to be the creative lead on the design of the medals and torch presented at the Salt Lake 2002, Winter Olympics.    CONTINUED…  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) Board of Directors recently announced the election of two new directors: Amy Chang, veteran technology executive, and Calvin McDonald, Chief Executive Officer of global athletic apparel company lululemon athletica inc. (LULU). The elections of Ms. Chang and Mr. McDonald are effective immediately.

"Amy Chang and Calvin McDonald are highly-respected leaders with a deep understanding of the nexus between technology and the consumer experience, and we are excited to have them join the Disney board," said Robert A. Iger, Executive Chairman and Chairman of the Board, The Walt Disney Company. "Ms. Chang brings vast expertise in the tech industry, where her developments in machine learning and artificial intelligence have enabled companies to improve collaboration and gain deeper consumer insights. And Mr. McDonald has a wealth of experience in scaling brand-name retailers like lululemon through innovation, finding new ways to connect with consumers across digital channels, in stores and at home."

Cinemark Holdings, Inc. (NYSE: CNK) one of the largest motion picture exhibitors in the world, recently announced that it will report its second quarter 2021 operating results pre-market and host a webcast and conference call to discuss the results on: Friday, August 6, 2021 @ 8:30 a.m. Eastern Time

Interested parties can listen to the call via live webcast or by phone. 

Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world. Cinemark's circuit, comprised of various brands that also include Century, Tinseltown and Rave, operates 523 theatres (325 U.S., 198 South and Central America ) with 5,872 screens (4,436 U.S., 1,436 South and Central America ) in 42 states domestically and 15 countries throughout South and Central America . Cinemark consistently provides an extraordinary guest experience from the initial ticket purchase to the closing credits, including Movie Club, the first U.S. exhibitor-launched subscription program; the highest Luxury Lounger recliner seat penetration among the major players; XD - the No. 1 exhibitor-brand premium large format; and expansive food and beverage options to further enhance the moviegoing experience.

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