The company also continued to invest in “Llama Llama” and “Rainbow Rangers” throughout the quarter.
The company’s strong quarter was driven by success in its Licensing & Royalties and Television & Home Entertainment businesses. The company’s licensing division reported a 10 percent increase in revenues, primarily due to the popularity of the “SpacePOP” property. Meanwhile, the television division reported a 245 percent increase in revenue, which was directly related to licensing activity for “Thomas Edison’s Secret Lab” and “SpacePOP.”
Genius Brands also noted its increased investments in “Llama Llama” and “Rainbow Raingers” during the quarter, which have both generated sales activity in advance of their completion. During the quarter, the company secured licensing partners in categories spanning animatronic plush, cosmetics, backpacks, clothing and motorized toys for each brand.
Other highlights from Genius Brands’ Q3 results include: deferred revenue
In addition, the company’s results for the nine months ended Sept. 30, 2017, were also positive. The company reported that revenues remained constant compared to the prior period and operating expenses decreased 17 percent over the prior period.
“Today, we released our financial results for the three and nine-month periods ended Sept. 30, 2017,” says Andy Heyward, chairman and chief executive officer, Genius Brands. “The third quarter of 2017 was a positive quarter for the company from both an operational and financial perspective.”
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