GlobeNewswire
2012-07-16
Focus on Fast-Growing Educational App Market; eLearning is
Estimated at $16.6 Billion for 2012 and Growing at 33% Per
Year
SAN DIEGO, July 16, 2012 (GLOBE NEWSWIRE) -- On the heels of announcing
the launch of a new line of educational mobile apps for children that
run on Microsoft Corp.'s Windows Phone(R) operating system through its
partnership with Nokia Corporation (NYSE:NOK), Genius Brands
International, Inc. (OTCQB:GNUS), is leveraging its brand name
recognition, intellectual property, and core skills in creating top
selling edutainment content into the growing, multi-billion dollar
children's mobile app market.
Through agreements with Microsoft and Nokia, Genius Brands is scheduled
to launch two Baby Genius(R) apps this summer, Rexi the Dinosaur and
Bubbles the Bear, for preschool aged children. These apps are the first
two in the Genius Brands' Ready, Play, Learn(TM) line of educational
apps being developed to prepare young children for preschool and
kindergarten. The next educational apps in the series are scheduled to
launch in the 4th quarter of 2012.
According to a report published by The Joan Ganz Cooney Center at
Sesame Workshop titled, "iLearn II, An Analysis of the Education
Category of Apple's App Store," over 80% of the top selling paid apps
in the education category of the iTunes Store target children, with 72%
aimed at preschool and elementary aged children. The report indicates
that apps for toddlers and preschoolers is the most prominent age
category representing 58% and experiencing the fastest growth at 23%
per year. 60% of the top 25 selling apps target toddlers and preschool
children. The report states, "The fact that apps targeting children are
so prominent amongst the top-25 list reinforces strong demand for
educational apps for children."
GSV Advisors' EDU Education Sector Factbook 2012 states that eLearning
for K-12 is a $16.6 billion market in 2012 and growing at 33% per year
to $69 billion by 2017. According to Forrester Research the app market
will grow to $38 billion by 2015.
"Genius Brands has invested time, funds and focus in the development of
children's edutainment programs and quality branding. We have built
tremendous brand recognition for Baby Genius(R) through the engaging,
entertaining and educational content we've created in our DVDs, CDs,
books and toys. Today, we are extremely excited to leverage these
assets onto digital platforms including mobile apps which address
multibillion dollar markets. Having our content featured as recommended
apps by Nokia for its Windows(R) phone is a significant achievement
reinforcing the value of our brands," stated Klaus Moeller, Genius
Brands' Chairman and CEO
"The potential for our brand on these digital platforms may well
eclipse the markets we've traditionally addressed. While our current
licensing agreements are the result of the brand equity we've built to
date, we believe that the broader, global distribution of Baby
Genius(R) mobile apps will further strengthen our licensing business."
Genius Brands has several licensing deals for its Baby Genius(R) brand
including a toy line scheduled to launch in August of 2012 with JAKKS
Pacific and a sunglass line with Sunscape slated for the 2012 holiday
season. Baby Genius(R) books are part of each Kids Meal for children
under the age of three at 6,500 Wendy's(R) restaurants. Baby Genius(R)
products have gained growing awareness and recognition by generating an
estimated 30 million impressions on Groupon where the Company's DVDs
and CDs have been selling over the past year.
The Baby Genius(R) brand was recognized by 70% of moms in the U.S.,
according to a study conducted in 2009 by a third party commissioned by
Genius Brands. "With the growing visibility that our Baby Genius(R)
brand has built in the past year, through Groupon, Wendy's(R), and
being the #1 children's video on demand on Comcast and Cox cable with
one million downloads per month, we believe that an even greater
percentage of moms recognize Baby Genius(R) today," added Moeller.
With an immediate focus on Baby Genius(R) and Little Genius(R) mobile
apps, Genius Brands is also planning e-learning programs on other
digital platforms for a range of age categories and subject matters
including English as a second language, which the Company believes will
bring the Genius brand to millions of young language learners around
the world.
About Genius Brands
Genius Brands International, Inc. is the developer and marketer of
entertainment products including the award winning Baby Genius(R) line
of music and education-based products and characters. The Company is
developing and marketing a growing line of Genius branded products that
entertain and educate the whole family. Baby Genius(R) awards include:
Mom's Choice Award, The National Parenting Center Seal of Approval, The
Toy Insider Best Toddler Toys, Dr. Toy 100 Best Children's Products,
NAPPA Honors Award, iParenting Excellent Product Award, Creative Child
Preferred Choice Award, Latino DVD Awards, iParenting Media Award, Film
Advisory Board Award of Excellence, Kids First! Quality Children's
Media Endorsement, Parents Magazine 2002 "Video of the Year," and Best
"Under 3" QSR Program 2004/2005 from Restaurant Magazine. Baby
Genius(R) products are available at most major retailers and have
international exposure in over 40 countries. For brand information
please visit www.babygenius.com. For Company information please visit
http://ir.stockpr.com/babygenius/overview.
The Genius Brands International, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=11441
Forward-looking statements
This release contains forward-looking statements made by or on behalf
of Genius Brands International Inc. All statements that address
operating performance that the Company expects will occur in the
future, including statements relating to operating results for fiscal
2012 and beyond, revenue growth, future profitability or statements
expressing general optimism about future operating results, are
forward-looking statements. These forward-looking statements are based
on management's current views and we cannot assure that anticipated
results will be achieved. These statements are subject to numerous
risks and uncertainties, including, among other things, uncertainties
relating to the Company's success in judging consumer preferences,
financing the Company's operations, entering into strategic
partnerships, engaging management, seasonal and period-to-period
fluctuations in sales, failure to increase market share or sales,
inability to service outstanding debt obligations, dependence on a
limited number of customers, increased production costs or delays in
production of new products, intense competition within the industry,
inability to protect intellectual property in the international market
for our products, changes in market condition and other risks and
uncertainties indicated from time to time in our filings with the U.S.
Securities and Exchange Commission (SEC) available via the SEC's
website at www.sec.gov. Readers are cautioned not to place undue
reliance on forward-looking statements and are encouraged to consider
the risk factors that could affect actual results. The Company
disclaims any intent to update forward-looking statements.
CONTACT: Investor Relations Contact:
Mr. Andrew Haag
Managing Partner
IRTH Communications, LLC
Tel: +1-866-976-IRTH (4784)
E-Mail: Andrew@irthcommunications.com
Website: www.irthcommunications.com
Media Contact:
John Russel
RUSSEL Public Relations
Tel: +1-818-561-5072
Cell: 818-516-8572
E-Mail: JRussel@russelprla.com