Kartoon Channel! reached breakeven at the end of 2023 and became profitable in Q1 2024. Kartoon Channel!’s paid subscriber growth on Amazon Prime Video surged by 120%. from June 2023 – June 2024. Over the same time period, the platform achieved a 28% year-over-year growth in paid direct-to-consumer streaming subscribers across all its streaming services which include Apple iOS, Amazon Prime, Amazon Fire, Android TV, Android Mobile, Tubi, Roku, Pluto, Xumo, Comcast, Cox, Dish, Sling, Samsung, and LG Smart TVs.
Andy Heyward, Chairman & CEO of Kartoon Studios referred to the company's growth: “We are now witnessing ongoing month-over-month growth for Kartoon Channel! This growth has been fueled by management, led by Todd Steinman, President of Kartoon Studios’ Toon Media Networks, as well as a carefully executed strategy, and ongoing expansion of network coverage. As a provider of compelling original content combined with curated acquisitions, Kartoon Channel! has now firmly established itself as a premier destination for young viewers. In the children’s media landscape, we are witnessing the third wave of television distribution, as children migrated from Saturday morning network television, to children’s cable TV, à la Nickelodeon, and now to streaming, with Kartoon Channel! positioning itself to be at the forefront of this streaming revolution for kids," commented.
Meanwhile, Todd Steinman, President of Kartoon Studios’ Toon Media Networks mentioned some of the keys to success: “The strong year-over-year growth in paid streaming subscribers is a testament to Kartoon Channel!'s commitment to quality and its diverse library of safe content. We actively manage for growth and the numbers keep rising each month. This significant growth is even more remarkable given our commitment to operational efficiency and cost control measures, including prudent marketing budgets aimed at driving long-term, profitable growth. As Kartoon Channel! continues to grow, we remain guided by a strategy emphasizing safety, compelling content, and viewer satisfaction," added.
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