Benzinga | Dec 1, 2021 07:30AM EST

EXCLUSIVE: Grom Social Commissioned For An Additional $1M In New Animation Production Work

Grom Social Enterprises Inc's (NASDAQ:GROM) subsidiary, Top Draw Animation (TDA), has been commissioned for an additional $1 million in new animation production work at its studio in Manila, the Philippines.

What Happened: The animated projects, none of which have been previously disclosed, are on behalf of global entertainment providers.

Some of the production work is already underway. Top Draw did not disclose the commissioned series or clients.

Why It Matters: In October, Top Draw Animation commenced production on approximately $1.0 million in new projects. The assignments, two recurring episodic animated TV series, bolster the studio's output.

Top Draw produces animated series, movies, specials, and short-form content for entertainment providers.

The studio employs over 400 artists, animation, and production executives at its 30,000 square foot, state-of-the-art campus in Manila.

TDA has accumulated a portfolio of TV animation, producing more than 2,000 half hours of content. Grom acquired Top Draw Animation in 2016.

Related: Grom Social Reveals Digital Holiday Hub with Santa.com, To Introduce Holiday-Themed Content for Kids and Adults.

Price Action: GROM shares are trading 1.78% higher at $2.29 premarket on the last check Wednesday.

Photo by StartupStockPhotos via Pixaby