Global Animation Market Size Expected to Exceed $587 Billion by 2030

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., June 28, 2022 /PRNewswire/ -- Animation is a technique of creating moving graphics from visual files. This is done with the help of animation software. Large numbers of good animation software are used by the animators to create effects and animated visuals. Animation creates illusion, transition 3D computer animation, motion graphics, and much more. Animation is one of the best ways of exercising one's imagination and expanding the creativity horizons. These days animation is being adopted by all sizes organizations with a view to promote and expand their businesses. Technological advancements in the communications as well as technology sectors across the globe is major factor driving growth of the target industry. Emergence of virtual reality and artificial intelligence technologies across the globe is expected to generate new opportunities to market players operating in the global market. Various existing XR (Extended Reality) technology such as Virtual Reality and Artificial Intelligence Technologies are becoming more advanced in terms of creative use and application in the animation industry. AI will have a massive and profound effect on industrial growth and have transformative effect on the animation industry which is offering potential opportunities for the key players in the market. Rising adoption of visual effects technology in movies is another factor which is expected to boost growth of the target industry during the forecast years 2021 to 2030. A report from Precedence Research predicted the global animation market size to reach over USD 587.1 billion by 2030, growing at a CAGR of 5.2% through 2030. It said: "Crucial factors accountable for market growth are: Advancements and developments across the communications and technology sectors; Growing media and entertainment industry; and Increased internet penetration across different regions." Active Companies in the markets today include Grom Social Enterprises, Inc. (NASDAQ: GROM), Netflix, Inc. (NASDAQ: NFLX), The Walt Disney Company (NYSE: DIS), The9 Limited (NASDAQ: NCTY), Roku, Inc. (NASDAQ: ROKU).

Precedence Research continued: "The study report contracts with the business predictions of animation products around are as counting Europe, Latin America, Asia-Pacific, North America, Middle East and Africa. Animation market is occupied by North America due to augmented intake of the animation in various end use applications, coupled with presence of major companies in the North America and business plans that are executed by the chief players in the nations. Asia Pacific is probable to list the remarkable CAGR, on account of growing in the demand for the animation in evolving economies owing to increased preferences form automotive industry. Likewise, utmost of the companies functioning in the market are advancing heavily in order to get the modest edge in the animation market in Asia Pacific. Further, the Latin America as well as Middle East and Africa regions will likely to register moderate growth in the coming.  It concluded: "The major trend witnessed in the global market in growing numbers of strategic partnerships among major key players. This trend is anticipated to continue and will boost growth of the market in the near future."

Grom Social Enterprises, Inc. (NASDAQ: GROM) BREAKING NEWS: Grom Social's Top Draw Animation Studio Continues New Business Streak With $528K in New Assignments - Premium Supplier of Animation Production for Global Entertainment Brands Bolsters Output and Leverages New Leadership Team - Top Draw Animation (TDA), a leading source of premium animation production services and a division of Grom Social Enterprises Inc., has secured an additional $528,000 in animation production assignments, it was announced today by Top Draw's President, Russell Hicks. Recognized throughout the animation and entertainment industry as a go-to studio for its quality and reliable production services, Top Draw produces animated series, movies, specials and short-form content for several leading global and international entertainment providers. The company does not publicly disclose clients or specific projects for competitive reasons and client privilege.

Acquired by Grom in 2016, Top Draw serves as a centerpiece of Grom's offerings, which include safe social media for kids, web filtering utilized in school districts nationwide and original family entertainment through Curiosity Ink Media. The studio, which employs over 400 artists, animation and production executives in Manila, the Philippines, continues its increased output under direction of the company's two recently-installed leaders – the aforementioned Hicks, who earlier led Nickelodeon's animation and live action direction, as well as Top Draw EVP, Jared Wolfson, both of whom assumed their new roles last fall. Since opening its doors in 1999, TDA has accumulated an impressive portfolio of TV animation, producing more than 2,000 half hours of content on behalf of programmers and other leading entertainment providers.

"Top Draw is honored to be entrusted with bringing yet another client's beloved franchise to life," said Hicks. "We hold ourselves, our product and our process to a very high standard and we look forward to continuing to deliver the visually rich animated programing that our clients worldwide have come to expect from us."  CONTINUED…  For more information about Grom Social Enterprises please visit https://gromsocial.com/  

Other recent developments in the markets include:

The9 Limited (NASDAQ: NCTY), an established internet company, recently announced that following the recent signing of partnering stars, its NFT community and trading platform NFTSTAR (www.nftstar.com) has proliferated to 180,000 pre-registered users from 176 countries. The platform is planned to be officially launched one week before Christmas on December 17, 2021.

As of today, NFTSTAR has announced several partnering stars including the NFL football star Christian McCaffrey, Portuguese football legend Luís Figo, Korean football star Son Heung-Min, and two-time NBA MVP winner basketball star Giannis Antetokounmpo and his three brothers.

Netflix, Inc. (NASDAQ: NFLX) recently announced it will post its second quarter 2022 financial results and business outlook on its investor relations website at http://ir.netflix.net on Tuesday, July 19, 2022, at approximately 1:00 p.m. Pacific Time. At that time, the company will issue a brief advisory release via newswire containing a link to the second quarter 2022 financial results and letter to shareholders on its website.

A video interview with Netflix co-CEO Reed Hastings, co-CEO & Chief Content Officer Ted Sarandos, Chief Financial Officer Spence Neumann, COO & Chief Product Officer Greg Peters and VP, IR & Corporate Development Spencer Wang will be available at 3:00 p.m. Pacific Time. The discussion will be moderated by Doug Anmuth, JPMorgan, with questions submitted via email. Questions from investors should be submitted as well in advance as possible for inclusion to [email protected]. 

The video interview can be accessed on the Netflix Investor Relations YouTube channel at youtube.com/netflixir.

The Walt Disney Company (NYSE: DIS) recently reported earnings for its second fiscal quarter ended April 2, 2022. Revenues for the quarter and six months grew 23% and 29%, respectively, despite a $1.0 billion reduction for the amount due to a customer to early terminate license agreements for film and television content delivered in previous years in order for the Company to use the content primarily on our direct-to-consumer services.

Diluted earnings per share (EPS) from continuing operations for the quarter decreased to $0.26 from $0.50 in the prior-year quarter. Excluding certain items, diluted EPS for the quarter increased to $1.08 from $0.79 in the prior-year quarter. EPS from continuing operations for the six months ended April 2, 2022 increased to $0.89 from $0.52 in the prior-year period. Excluding certain items, EPS for the six months increased to $2.14 from $1.11 in the prior-year period.

Roku, Inc. (NASDAQ: ROKU) recently announced that the Roku Brand Studio and Mast-Jägermeister US will create a new limited streaming series, "The Lesbian Bar Project," directed by Erica Rose and Elina Street, and hosted by Lea DeLaria ("Orange is the New Black") who also serves as Executive Producer along with The Katz Company. The series will spotlight Lesbian bars and the colorful communities that they serve across the United States. The three-episode docuseries is slated to launch in October 2022 on The Roku Channel, the home of free and premium entertainment on America's No. 1 TV streaming platform.

In the 1980s, there were roughly 200 Lesbian Bars in the United States. Today, there are fewer than 25. As these bars disappear, co-directors Erica Rose and Elina Street established "The Lesbian Bar Project" to celebrate, support, and amplify the remaining Lesbian bars. Each episode of "The Lesbian Bar Project" series will tell the lively and powerful stories of different Lesbian bar owners and patrons in Houston, Phoenix, and Chicago.

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