Global 3D Animation Market Size Estimated To Reach $39.96 Billion By 2028
PALM BEACH, Fla. , Oct. 7, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - In the content creation industry, software has been driving the 3D and animation markets. The significant increase in the adoption of cloud solutions for animation, rising demand for high-quality content by consumers, and the increased use of Visual Effects (VFX) in movies are some of the key factors driving the market growth. The integration of Artificial Intelligence (AI) with 3D animation has made the simulation process more streamlined. Hence, many companies are partnering with AI technology providers to simplify their simulation tasks and enhance the overall quality of several operations. According to a recent report from Grand View Research the global 3D animation market size is estimated to reach USD 39.96 billion by 2028, registering a CAGR of 11.7% from 2021 to 2028. The report said: "The substantial adoption of VFX in the entertainment sector is expected to fuel market growth. The technique is being preferred to depict scenarios that cannot be shot in a real environment by game developers, movie makers, and animators. The latest trend of applying VFX in adverts and infomercials to display products, using 3D elements such as animated logos, is anticipated to drive the growth of the market for 3D animation. Several entertainment businesses are exploiting techniques such as 3D videos, interactive 3D, virtual reality 3D, inverse kinematics, fluid simulation, and 3D skeletal animation in their media offerings. For instance, Warner Bros. Entertainment Inc, Dreamworks Animation, and Disney (Pixar) are producing animated movies using these techniques, thus driving the market."Active Companies in the markets today include Grom Social Enterprises, Inc. (NASDAQ: GROM), Roku, Inc. (NASDAQ: ROKU), Liberty Media Corporation (NASDAQ: LSXMA), Netflix, Inc . (NASDAQ: NFLX), JAKKS Pacific, Inc. (NASDAQ: JAKK).
The report continued discussing 3D Animation Market Report Highlights, saying: " In terms of component, the software segment is expected to witness the fastest CAGR of over 12.5% from 2021 to 2028… In terms of end use, the media and entertainment segment accounted for the largest revenue share of over 35.0% in 2020 and is likely to maintain its dominance till 2028. The Asia Pacific region is anticipated to register the highest CAGR of nearly 13.0% over the forecast period as the market is witnessing a high deployment of advanced 3D technologies in various application areas In terms of technique, the 3D modeling technique segment dominated the market in 2020 and is expected to maintain its dominance over the forecast period as this technique enables the designing and creation of digital objects."
Grom Social Enterprises, Inc. (NASDAQ: GROM) BREAKING NEWS : Grom Social's Top Draw Animation Studio Adds $1 Million in New Assignments - Premium Supplier of Animation Production for Global Entertainment Brands Bolsters Output and Leverages New Leadership Team - Grom Social Enterprises, Inc. today announced that its wholly-owned subsidiary, Top Draw Animation (TDA), has commenced production on approximately $1.0 million in new projects through its sprawling studio in Manila, the Philippines . The assignments, two recurring episodic animated TV series, bolster the studio's output and leverage the expertise of Top Draw's animation professionals as well as Russell Hicks and Jared Wolfson , the studio's newly installed President and Executive Vice President, respectively. Due to confidentiality, Top Draw did not disclose either the series or the commissioning client.
Recognized throughout the animation and entertainment communities for premium production services, Top Draw produces animated series, movies, specials and short-form content on behalf of several leading global entertainment providers. The company was acquired by Grom in 2016 and serves as a centerpiece of Grom's offerings, which include safe social media for kids, web filtering utilized in school districts nationwide and original family entertainment through Curiosity Ink Media. Founded by Hicks and advertising executive Brent Watts in 2017, Curiosity is intended to serve as Grom's pipeline for original IP (Intellectual Property) development through which the company aims to serve the entertainment needs of kids and families.
"Animation consistently delivers dedicated audiences because it's typically timeless and escapist," explains Hicks. "Programmers rely heavily on their animated series and Top Draw Animation is prepared and energized to help entertainment companies around the world bring this visually rich brand of storytelling to life. We currently have hundreds of animation experts and artists focused on feeding the growing demand for animated entertainment."
Top Draw Animation studio employs over 400 artists in its 37,000 square foot, state-of-the-art studio in Manila , the Philippines. TDA has accumulated an impressive portfolio of TV animation totaling more than 2,000 half hours. As the entertainment industry slowly welcomes personnel back into the office, Top Draw continues work in cooperation with the Film Development Council of the Philippines , Quezon City and Manila Local Government to ensure that all necessary Covid 19 safety protocols are in place to protect studio employees. Currently, Top Draw is tracking to have 80 percent of its staff vaccinated by the end of 2021. CONTINUED… For more information about Grom Social Enterprises please visit https://gromsocial.com/
Other recent developments in the markets include:
According to The Streaming Decade survey released recently by Roku, Inc. (NASDAQ: ROKU), Content producers, advertisers, and marketers take note, TV streaming popularity continues to rise with 4 in 5 Canadians classifying themselves as TV streamers (versus 3 in 4 who pay for traditional TV), The annual survey provides insights into consumer TV viewing behaviors and preferences, and how the pandemic accelerated the ongoing shift to TV streaming.
The Streaming Decade survey also revealed that content such as new movie releases (72 per cent), and sports (68 per cent) is a key reason Canadians would try a new streaming service. As well, the ease-of-use, cost-savings, and content quality of TV streaming was shown to have extremely broad, intergenerational appeal among Canadian consumers.
Liberty Media Corporation (NASDAQ: LSXMA) recently announced the payment of a quarterly interest payment to the holders as of September 15, 2021 of its 2.25% Exchangeable Senior Debentures due 2046 (the "Debentures"). The amount of the quarterly interest payment is $5.625 per $1,000 original principal amount of Debentures. As of September 30, 2021 , the aggregate adjusted principal amount outstanding is approximately $25 million , after giving effect to today's quarterly interest payment.
Under the Indenture for the Debentures, the original principal amount of the Debentures is reduced in an amount equal to each Extraordinary Additional Distribution that is made to holders of the Debentures. Thereafter, the adjusted principal amount is further reduced on each successive quarterly interest payment date to the extent necessary to cause the quarterly interest payment to represent the payment of an annualized yield of 2.25% of the adjusted principal amount. This latter adjustment, to the extent it is made by reason of a particular Extraordinary Additional Distribution that results in a reduction to the principal amount of the Debentures, takes effect on the second succeeding interest payment date after the payment of that Extraordinary Additional Distribution.
Netflix, Inc . (NASDAQ: NFLX) recently announced it will post its third-quarter 2021 financial results and business outlook on its investor relations website on Tuesday, October 19, 2021, at approximately 1:00 p.m. Pacific Time. At that time, the company will issue a brief advisory release via newswire containing a link to the third-quarter 2021 financial results and letter to shareholders on its website.
A video interview with Netflix co-CEO Reed Hastings, co-CEO & Chief Content Officer Ted Sarandos, Chief Financial Officer Spence Neumann, COO & Chief Product Officer Greg Peters and VP, IR & Corporate Development Spencer Wang will be available at 3:00 p.m. Pacific Time. The discussion will be moderated by Nidhi Gupta, Fidelity Management & Research Co., with questions submitted via email. Questions from investors should be submitted as well in advance as possible
Netflix is the world's leading streaming entertainment service with over 209 million paid memberships in over 190 countries enjoying TV series, documentaries and feature films across a wide variety of genres and languages. Members can watch as much as they want, anytime, anywhere, on any internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments
JAKKS Pacific, Inc. (NASDAQ: JAKK), leading toy and consumer products manufacturer, recently announced the launch of its new line of toys developed for the upcoming theatrical release of Disney's " Encanto ." JAKKS is launching a comprehensive, cohesive global line celebrating the entire family ensemble, key moments, music and room environments allowing kids to play out their favorite parts of the film with their favorite characters.
The line coming to retail on Oct. 3 features interactive playsets including the Magical Casa Madrigal, Singing Mirabel and Magic Butterfly doll, Sing and Play Mirabel doll, Mirabel and Isabela fashion doll assortment, Mirabel's Musical Accordion, 7" key character plush assortment and character role play dresses. The product assortment plays original scores from the upcoming movie and includes interactive elements that bring the plot of the movie to life.
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