Disney and Hasbro are leading names in kid entertainment, but GROM's potential for near-term explosive growth may soon run circles around these big players.
Disney and Hasbro are leading names in kid entertainment, but GROM's potential for near-term explosive growth may soon run circles around these big players.
Narwhal Studios, a wholly owned subsidiary of Arctic7, reveals its role in the highly anticipated David Ayer TV project ‘Lollipop’ and Francis Ford Coppola movie ‘Megalopolis’
PALM BEACH, Fla., June 25, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The experts agree that through 2031 the Global Virtual Production Market should continue to grow at an increasing rate. This robust expansion is driven by the escalating demand for realistic and immersive visual content in the film and gaming industries, coupled with advancements in technologies such as real-time rendering, motion capture, and augmented reality. Additionally, the film industry's shift towards remote and virtual filming techniques, accelerated by the COVID-19 pandemic's impact on traditional production methods, further fuels this growth by providing safer, more flexible, and cost-effective alternatives to conventional on-location shoots. According to a report from an industry insider on LinkedIn: “COVID-19 first appeared in Wuhan (China) in December 2019, and has since spread throughout the world. The media and entertainment industries have also suffered. As a result, the pandemic will act as a brake on the growth of various markets related to this industry in the coming months. On-site shooting and production is one of the most severely impacted critical areas. The industry is fighting back to recoup its losses and develop new business models. Companies are developing shows for streaming devices in order to monetize. With the increasing penetration of OTT devices, the crisis has accelerated the trend of media streaming. Since the outbreak of this pandemic, streaming companies have seen a significant increase in subscriptions and viewers. This has increased the demand for virtual productions significantly. The COVID-19 pandemic has had a positive impact on the overall growth of the virtual production market.” Active companies in the markets this week include Grom Social Enterprises, Inc. (NASDAQGROM), Fox Corporation NASDAQ: FOXANASDAQFOXA)(NASDAQ: KRKRNASDAQKRKR, Super League (NASDAQ: SLENASDAQ), AMC Entertainment Holdings, Inc. (NYSE: AMCAMC).
Led by Newly-Installed COO, Cyrus Mistry, Top Draw Offers Award-winning Team, Tax Incentives, and Preferred Partnerships for Clients at Annual Animation Conference
PALM BEACH, Fla., June 25, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The Virtual production Market is projected to continue to grow significantly over the next several years. Virtual production allows filmmakers to interactively visualize and explore digital scenes within the studio, such as realistic virtual characters, three-dimensional graphics, and a real-time virtual interactive background environment. Over the years, significant advancements in the field of virtual production have resulted in the introduction of solutions that allow filmmakers to transfer an actor's motion-captured movement to virtual characters, which are then previewed in real-time in conjunction with live-action footage and virtual set extension elements. Such solutions assist filmmakers in planning and communicating their creative ideas in novel and intuitive ways. A report from SNS Insider said that: “The Virtual Production Market Size was valued at USD 2.98 billion in 2023 and is expected to reach USD 8.87 billion by 2031 and grow at a CAGR of 14.62 % over the forecast period 2024-2031.” The report added: “Based on type, the virtual production market is segmented into Production, Pre-production, and Post-production. In the virtual production market, the production phase is expected to grow at the fastest CAGR. The increased use of virtual production technology aids in project front-loading, early evaluation and editing, and a reduction in the need for guesswork while filming. It also contributes to a smoother phase and helps to limit post-production expenses. This is primarily due to an increase in the number of movies and television shows produced entirely through virtual production technology.” Active companies in the markets this week include Grom Social Enterprises, Inc. (NASDAQGROM), The Walt Disney Company NYSE: DISNYSEDIS)(NASDAQ: CMCSANASDAQCMCSA, Netflix, Inc. (NASDAQ: NFLXNASDAQ), Warner Bros. Discovery, Inc. (NASDAQ: WBDWBD).
Grom Educational Services Division DCL Program – Offered to Schools Nationwide – Part of Grom’s Completely Updated Safe Social Media App Just for Kids!
