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Sony Takes Stake in Genius Brands image

Sony Takes Stake in Genius Brands

Sony Pictures Home Entertainment (SPHE) bought a 7% stake in Genius Brands International as part of a deal that gives it global streaming and DVD distribution rights for the company’s series, including “SpacePop”, “Kid Genius”, “Baby Genius” and “Warren Buffet’s Secret Millionaire’s Club”. SPHE initially signed on in February to handle Genius’ North American distribution and extended the agreement as part of an effort to bolster its children’s programming business, Genius CEO Andy Heyward said in a letter to shareholders. Genius previously handled content distribution itself.

Genius retains product licensing agreements tied to the shows, a spokeswoman said. In licensing, 24 SpacePop items at Toys R Us, including headphones, beauty kits and fashion dolls, and a 10-piece DTR apparel collection – bomber jacket, t-shirts, hoodies — at Kohl’s, have been “showing strong sales” in their first weeks of availability, Heyward said. And Macmillan, based on the “early success” of the first two SpacePop books, plans to expand the publishing program to other formats, Heyward said.

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