Genius Brands Stock Surges 21% on Samsung TV Deal

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Genius Brands (NASDAQ:GNUS) stock is on the rise Friday after announcing a deal to bring its content to Samsung Smart TVs.

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According to a Genius Brands news release, the company’s Kartoon Channel! will start showing up on Samsung Smart TVs for free. The company notes that Samsung currently holds 20% of the global TV market.

Genius Brands points out that the Samsung TV deal is the first that the company has made. However, that doesn’t mean there aren’t other ways to use its app. The Kartoon Channel! app is available on a wide variety of platforms and is free to download.

It’s worth noting that this deal with Samsung means that Genius Brands’ Kartoon Channel! will have an easier time getting in front of viewers. That, in turn, will likely result in more viewers giving it a shot.

Jon Ollwerther, general manager of Kartoon Channel! and executive vice president of global business development for Genius Brands, said this about the news moving GNUS stock.

“We are very proud of what our team has accomplished in just three months since launching Kartoon Channel! with distribution across a broad spectrum of platforms with new partners being added frequently and new content coming to the channel on a weekly basis.”

Genius Brands has been looking to expand its platform and content. That includes a deal earlier this year to acquire rights to Stan Lee’s works. However, it’s worth noting that this doesn’t cover his creations while working under Marvel.

GNUS stock was up 20.7% as of Friday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/09/genius-brands-stock-surgeson-samsung-tv-deal/.

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