Genius Brands is collaborating with LG USA to offer Kartoon Channel and expand its premiere children’s entertainment destination.
Genius Brands International (GNUS) continues to explore new channels of television entertainment and diversify its premiere children’s entertainment destination, Kartoon Channel. To strengthen its network, Genius has partnered with one of the largest television manufacturers, LG Electronics USA.
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The new collaboration deal pulled Genius’ shares to an upward movement on Tuesday. The stock rallied to the day’s high of $1.67 soaring up to 21%. GNUS shares closed the trading at $1.61 up from the prior close of $1.39.
The trading volume was also high above 53 million up from the average volume of 27.8 million.
As we write this at 8:42 A.M. before hours, GNUS was trading at $1.66 rising by 3.11%.
The partnership deal with LG Electronics USA was followed by a major executive transition in the company. Recently, Genius Brands promoted its Senior Vice President of Business Affairs, Michael Jaffa to Chief Operating Officer post.
Genius Brands is one of the leading firms that focus on providing Kids with a top-level entertainment platform. Its cooperation with LG USA is strategically part of its policy to inflate the footprint of its premiere children’s entertainment platforms including Kartoon Channel and Kartoon Classroom.
Genius will provide free access to its Kartoon Channel on all LG Smart TVs with an immediate effect. The is Genius’ second deal with TV manufacturers followed by another deal with Samsung in September 2020.
Just like in LG Smart TVs, Kartoon Channel will be available across all Samsung Smart TVs.
The multimedia entertainment content provider has an audience of over 100% in all U.S. TV households and over 300 million devices. These stats are gathered from both Kartoon Channel and Kartoon Classroom.
Genius is introducing a new technology that allows the audience to enjoy the Kartoon Channel. This new technology will slide the company one step ahead that is a major part of its strategy.
The media giant’s deal is driving its programming out in front of more viewers. The General Manager of Kartoon Channel, Jon Ollwerther stated that they will be making more such deals over the next year. This is part of their deal that is to capitalize on the evolving viewer habits. This will help the entertainment network to stamp its authority in the fast-growing market.
The LG deal is a very strategic move as it is the second-largest player in the U.S. TV market. LG will enhance Kartoon Channel’s viewership, adding new contributors to Genius Brands International (GNUS) network.