Kartoon Studios Inc (NASDAQ: TOON) is a children's entertainment company that produces and distributes animated content through owned studio operations and branded digital channels. Revenue comes from three streams: animation production services billed to third-party clients on a percentage-of-completion basis, film and television licensing of owned and acquired IP, and media advisory and advertising services. Mainframe Studios, the company's primary production entity headquartered in Vancouver, Canada, has produced over 1,200 television episodes, 70 movies, and three feature films as of the FY2025 10-K filing. Kartoon Studios also operates Kartoon Channel!, a family-oriented streaming destination available across AVOD, SVOD, and linear platforms including Roku, Amazon Fire, Tubi, Pluto TV, and Samsung smart TVs, with Kartoon Channel! Worldwide covering over 61 territories across Europe and beyond as of FY2025. The company is headquartered in Beverly Hills, California.

Revenue model

Three reported revenue streams: (1) animation production services recognized over time using percentage-of-completion method for third-party commissioned content; (2) film and television licensing of owned IP and acquired rights across streaming and broadcast platforms; (3) media advisory and advertising services operated through Beacon Media Group. Revenue is organized into two segments: Content Production and Distribution, and Media Advisory and Advertising Services.

Products and services

Animation production services via Mainframe Studios, producing titles including Barbie Dreamhouse Adventures, Octonauts: Above & Beyond, Cocomelon, SuperKitties, Unicorn Academy, and Winnie and Friends (in active development and production as of FY2025). Branded streaming destinations: Kartoon Channel!, Kartoon Channel! Worldwide, Frederator, and Ameba. Owned IP includes Rainbow Rangers, Stan Lee brands, and Shaq's Garage. Media advisory and advertising services via Beacon Media Group.

Customers and end markets

End markets are family and children's entertainment audiences reached via streaming platforms. Production service clients are third-party global media companies commissioning animated content. Distribution customers include AVOD, SVOD, FAST, and linear platform operators such as Amazon Prime Video, Roku, Tubi, Pluto TV, Cox, DISH, Sling TV, and YouTube Kids. No customer concentration disclosures are provided in the excerpts.

Value-chain role

Vertically integrated content producer and distributor. Mainframe Studios handles production; the company owns distribution infrastructure through branded streaming channels and licenses IP directly to platforms. Also acts as a production services contractor for third-party media companies.

Geographic exposure

Primary operations in Beverly Hills, California (5,838 sq ft, lease commenced August 1, 2019) and Vancouver, Canada (45,119 sq ft, assumed April 2022). Additional office in Toronto, Canada (lease expires September 30, 2026). Kartoon Channel! Worldwide distributed across over 61 territories in Europe and additional international markets as of FY2025.

Source: SEC 10-K, filed 2026-03-31

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