充分利用省级政府投资基金，鼓励社会资本或有条件的地方设立数据产业发展基金，支持数据企业股权融资。

鼓励金融机构开发数据保险、数据信托、数据资产抵押融资及证券化等金融服务产品，提升数据金融服务水平。

近日，厦门市律师协会在厦门市数据管理局和厦门市司法局的指导下，推出《厦门市数据资产合规报告指引》，为数据资产登记全流程合规审查提供专业指引。

“积善之家，必有余庆；积不善之家，必有余殃”是《易经·坤卦》“文言”部分的内容，用以诠释《坤卦·初六》的“履霜，坚冰至”爻辞。全句着重强调一个“积”字，认为不管人们行善或是作恶，吉凶后果都是自己日积月累的行为所致。这种“余庆”或“余殃”，表示除了自己一代的庆或殃之外，还会延及子孙。

的本体世界是与人的心灵密切相关的天地人的共同根源,本体世界是包含着本原,实体,与活动的真实,而非一个静止的状态”。《否》卦中的九五爻中有道：“危者,安其位者也；亡者,保其存者也；乱者,有其治者也。是故君子安而不忘危,存而不忘亡,治而不忘乱,是以身安而国家可保也。”。这都暗示了本体对于人生命的意义,是人的活动之本。

。因为,我们已经把自己“根植于宇宙”之中。如有季节的更替,日出日落,月亮和辰星等。在他看来,人要生存就要符合自身的一种道德观,这种渺小的人类道德观是在于一种宇宙的大节奏之下的。这些自然现象的运行节奏也就是“人最大的需求,是永远更新生与死的整个节奏”。因此,劳伦斯的“人-天”关系也就是人得以生存之根本。

自2002年实施《大学生素质拓展计划》以来，安徽工业大学开始对学生第二课堂活动的育人功能进行科学化探索。历经15年的探索实践，作为全国第一批“第二课堂成绩单”试点高校，2017年1月，《安徽工业大学“第二课堂成绩单”制度实施办法》正式试行，逐步建立起以人才培养目标为基础、以学生需求为导向、以第二课堂课程项目库为内容的高校第二课堂育人模式，有效助力学生思想引领。

2020年，面对新冠肺炎疫情和经济下行压力双重叠加带给高校毕业生就业创业工作的诸多挑战，该校积极探索出：提高政治站位，就业创业工作“有担当”;强化组织领导，就业创业工作“有保障”;全程化教育指导，就业创业指导“有举措”;坚持因势而变，就业创业服务“有创新”;坚决落实政策，精准就业帮扶“有爱心”;线上线下发力，稳定就业创业“有落实”的“六有”就业创业模式，实现该校2020届毕业生就业去向落实率达86.39%，本科生升学深造率达28.70%(创历史新高)，在全省2020年度高校就业工作动态监测考核中取得显著成效，也是受到省人社厅、省教育厅通报表彰的我省仅有的三所本科院校之一。

“‘第二课堂’经历可视化，一直是我们的工作目标。”据安徽师范大学团委书记梁燕介绍，2016年，该校设计开发了“第二课堂”信息管理系统。系统记录学生参与的每一项活动，对学生能力和素质进行评估，引导学生科学规划大学生活，毕业时可以打印出专属于自己的“成绩单”，为用人单位提供另一种评估角度。“‘第二课堂’的课程评价功能很好，学生的评价给了我很多启发，也让我思考举办一个活动如何能真正对学生有用，促进他们的成长。”王丽珍是安徽师范大学图书馆负责公共活动组织的老师，“第二课堂”信息系统平台不仅给她发布和组织活动带来便利，也免去了开展工作找“对象”的痛苦，“花在活动组织上的工作量少了，用在前期策划和后期追踪的心思多了。”

“我是学文科的，之所以参加学校专利发明大赛还是因为‘第二课堂’的激励。”安徽师范大学2014级学前教育专业叶品同学，大二时带着自己发明的多功能衣架参加了校内评比会，自那以后，她开始留意生活中的细节。发现老师上完一节课后头发“银白”，粉笔灰落了一身，于是她发明出一个带吸尘功能的粉笔擦。“同学们都说我是‘学霸’，其实‘第二课堂’才是我的强项。”叶品向记者展示了自己的“第二课堂成绩单”，从幼儿故事创编大赛到钢琴六级，从动漫设计大赛到“青春飞扬”舞蹈大赛，佳绩频频。“第二课堂打开了我的另一扇窗，这么说吧，从碰上到爱上。”叶品说。

“拿到手后我才发现，这玩意儿触感太硬了，就像是没有刷头的加粗版电动牙刷，我根本不敢深入使用。而且震动会有声音，我也不敢在宿舍用。”　　这次的经历并不理想，但许梦显然不想止步于此，并开始了自我科普之路。　　浏览了大量社区帖子后，许梦知道了TENGA、Womanizer、丽波、Kiss Toy等等牌子。而根据别人的推荐，许梦下单了一款软体震动棒，几经摸索，体验到了自己带给自己的高潮。　　“一开始新奇感比较重，但也只是周末回家趁爸妈睡着了偷偷地开始。毕业后到现在，因为工作比较忙，我都好久没拿出来过了。上一次用还是疫情期间在家无聊的时候。”

Recent findings from the National Survey of Sexual Healthand Behavior indicate that, among 20 to24-year-olds, 92% ofmen and 77% of women have masturbated

更值得一提的是，为了缓和民族矛盾，使阿拉伯人感受到犹太人的友好，梅厄夫人还为阿拉伯人也建造了住房，她还亲自在海法的海滩上恳求阿拉伯人留在以色列这片土地。

女性用户崛起改变消费格局中国情趣用品市场产品种类分为计生用品（避孕套、避孕药、孕检等）、情趣用品（延时喷雾、延时套环、润滑剂、按摩油、情趣制服、飞机杯、振动棒等）、衍生产品（智能硬件、情趣酒店）三大类。谈到近两年增速较高情趣用品，网易春风负责人对《每日经济新闻》记者表示，近两年增速比较高的情趣用品仍是男用器具为主，例如飞机杯。这首先源于男性用户比较容易接受情趣用品，其次互联网品牌的进入也为情趣用品注入潮流时尚文化属性，增加了90后男性的接受度和认同感。不过，硬币的另一面，一些有意思的变化应运而生——女性消费“拐点”已至，其在情趣用品市场的占比不断攀升。例如，他趣方面向记者提供的2018年~2019年1月情趣用品销售占比数据显示，销售占比依次为避孕套品类（26%）、女用玩具（21%）、男用玩具（15%）、延时润滑类（14%）、情趣服饰（13%）、其他（11%）。此外，2018年全年销量最高的产品是某款女用跳蛋。此外，Analysys易观数据显示，以全网用户为样本，女性用户中等消费能力及以上占比更高。中、高消费者在全网用户和女性群体中的占比分别为26.44％和40.04％；高消费者在全网用户和女性群体中的占比分别为4.10％和8.75％。

什么情趣产品卖得最好？安全避孕是男生与女生共同的追求。除此之外，男生就剩下了追求爽爽爽。相较之下，女生还会关注自身的怀孕情况，使得验孕测孕产品在女性购买产品中排名第六，然而这类产品并未出现在男性购买产品的前列。

此外，尽管国内大代工厂也有从事高端成人用品代工的业务，但是大多是针对欧美市场，即便是代工厂能够不断积累经验，人种的问题依然难以跨越，适合欧美人种的成人用品对亚洲人来说往往并不合适，而本土缺少人体工学人才愿意从事这一行业，所以很多时候要从日本买回产品抄袭，但因为材料和工艺的问题，难以做出好产品。

女性26-35岁占比是唯一高于男性的年龄段，说明85-95后这个年龄段女性自我认知更强，追求自我满足、释放天性是这个年龄段女性的标志之一

从品牌集中度上看，头部效应高于平均值，但在长尾市场中，创新趋势比较一致，市场高度分散

人们对于“性”健康的需求明显增强。该品类几乎覆盖所有人群，并且因年龄、学历及婚姻状况而进入细分领域突围时代

此前有研究报告指出，2020年中国情趣用品市场规模将突破1300亿元，而互联网零售凭借其私密性、便捷性优势，市场规模将超过600亿元，预计未来很快超过50%

其三，版权意识不足导致改编权授权争议多发。全版权运营的主要方式是通过改编权的授权许可，实现内容在不同类型作品上的呈现。随着改编作品越来越多，近两年来，在司法审判中，因作品改编引起的版权诉讼数量呈上升趋势。作品改编过程中可能会涉及到改编和原作的关系，改编与复制权的关系等等。这些关系涉及作品改编权与其他不同权利的边界，若处理不慎，则有可能带来侵权风险。比如在司法审判中，较为常见的情形就是被告改编作品后被原作者起诉侵犯了保护作品完整权。

在集团式运营模式中，一些大型集团往往已建立起能够进行联动的多元平台，这些平台之间能进行资源共享，共同对某一个版权项目进行联动开发，让同一内容得到多元化呈现，实现版权价值的最大化。比如腾讯集团已完成互联网与游戏、动漫、文学、影视等文化领域的融合布局，拥有阅文集团、腾讯视频、QQ 、微信等众多平台，共同组成腾讯互娱全新的泛娱乐业务矩阵。因此，进行全版权开发，腾讯集团既有内容版权优势，还有输出平台优势，以及社交平台优势、支付平台优势。阿里巴巴集团在以电商业务及支撑电商体系的金融业务为核心建立起的商业生态圈内，已布局影视、游戏、视频、音乐等泛娱乐业务，并提出了以集团的基础设施赋能网络文学等内容形态，进行版权衍生，开发粉丝经济，并突出了IP消费这一理念。

其本质在于通过精准营销，让作品在多渠道授权许可以及多形态作品的改编权授权许可，实现对作品的多次呈现，多元利用和多次收益，以深度挖掘版权内涵，扩大版权的辐射面和影响力，实现版权价值的最大化。

也就是说，只要商业模式是不断更新并发展的，现实中，就永远没有「全」的版权，充其量叫做「多版权」。对此，立法者也相当狡猾，为了让法律更加全面，《著作权法》的第十条在规定了复制权、发行权、摄制权、信息网络传播权等十几项权利后，列了一个「兜底条款」——「应当由著作权人享有的其他权利」——立法者也知道，版权的种类是不能穷尽的。

「版权」背后的真正内涵其实是商业模式。具体来讲，每一种版权的背后都对应了一种商业模式。以「出版权」为例，就是作者将文字作品授权出版社出书、卖给各种读者并获取利润的权利，因此在交易这种权利的时候，出版社购买的是种商业模式对应的盈利机会。

版权」背后的真正内涵其实是商业模式。具体来讲，每一种版权的背后都对应了一种商业模式。以「出版权」为例，就是作者将文字作品授权出版社出书、卖给各种读者并获取利润的权利，因此在交易这种权利的时候，出版社购买的是种商业模式对应的盈利机会。

也就是说，只要商业模式是不断更新并发展的，现实中，就永远没有「全」的版权，充其量叫做「多版权」。对此，立法者也相当狡猾，为了让法律更加全面，《著作权法》的第十条在规定了复制权、发行权、摄制权、信息网络传播权等十几项权利后，列了一个「兜底条款」——「应当由著作权人享有的其他权利」——立法者也知道，版权的种类是不能穷尽的。

Domestic Cable Networks

Revenues

While the pandemic continues to impact our company, resulting in an adjusted loss of $0.20 a share in the fourth quarter, the prolonged situation has prompted us to find new and innovative ways to deal with the difficult and often unpredictable challenges we're facing. We successfully made adjustments and have resumed many of our operations, clearly demonstrating the resiliency The Walt Disney Company is known for.

By separating content creation from distribution, we've been able to streamline our processes and better align the organization, towards these important strategic objectives, as we accelerate our pivot to a DTC-first business model. We intend to build upon the success we've achieved thus far. And look forward to sharing more of our plans with you, at our upcoming Investor Day.

We have since rolled out the services in more than 20 countries worldwide. And on Tuesday, we will launch in Latin America, including Brazil, Mexico, Chile and Argentina followed by more overseas markets in the coming year.

The following table presents our revenues by segment and primary geographical markets

The following table presents our revenues by segment and major source

Segment revenues and segment operating income are as follows

Parks, Experiences and Products

The following table summarizes the third quarter segment revenue and total segment operating income for fiscal 2020 and 2019 (in millions)

是否具备动画化的能力已经成为衡量一个漫画平台是否具备下一阶段竞争力的标准；而“漫画+动画+社区”的多媒体平台，可能是下一阶段漫画平台发展的产品形态。

动态漫画评分较高，播放量差距不大

不过从整体行业趋势上来看，近半年持续低调的漫画平台向我们证明了2017-2018年被予以厚望的「全产业链开发+漫画付费」效果远低于预期，并不能顺利实现可持续发展的闭环。原因很简单，平台用户量级不够大、作品更新速度不够快、爆款IP及衍生开发的门槛高可复制性差。

牟方冉告诉数娱梦工厂，漫画是一个长线积累的过程，在出版时代，这个积累周期需要至少五年时间，而即使到了互联网漫画时代，这个时间也需要三到五年。例如在有妖气连载的《端脑》，2011年5月开始连载，2014年11月动画上线，经历三年时间，这个速度在业内已经算是顶尖。

现在，至少在商业化方向，腾讯动漫和壹动漫都是乐观的。毕竟在传统IP开发环节之外，漫动画还能采用短视频信息流的广告模式变现，特别是在微视、快手等平台进一步跑通短视频的多元化商业模式后，漫动画这个能够加速IP孵化、放大内容影响力的新品类，或许能有个更具想象力的未来——脱离平台策略式的发展路径，成长为独立的内容品类。

另一方面，从横屏转变为竖屏后，画面重点也需做出相应的调整。“横屏状态下，制作者需要考虑很多大场景，但到了变窄的竖屏时会更多地关注人物，甚至是大量运用特写镜头表现人物表情。”黄恂恂解释道。这意味着漫动画这一内容形态更适合塑造人物，因此，将IP中具有标识性的形象单独抽离进行放大和孵化也有了更多可能。

黄恂恂要求团队产出的“漫动画”需要在三分钟时间内有清晰的起承转合和故事发展。“我们希望在短时间内，用户能够进入到这个故事里，并可持续性地完成多个视频的浏览。”为保证更优质的体验，画面也要做到流畅自然。因此，镜头必须保持连贯，而不是像有声动漫和动态漫画那样，在处理画面时只进行简单位移甚至直接静止。同时，还需要兼顾到细节完整性：如果画面中出现太阳，对应的也要出现阴影，并且还要随着镜头推动做出光影的变化。

潘恒进一步向我们解释了动态漫画与漫画原著的关系：“我们目前已经启动、或者筹备当中的动态漫画项目，都是数据比较好、用户数量比较高的漫画作品，基本都是采用多主笔模式，更新速度能保证每周4话更新，而4话也基本就是动态漫画中的一集，这样的进度就可以保证我们的动态漫画在市场状况良好的情况下，可以始终保持每周连载，而不必彻底地断更，不需要观众等半年一年再上线下一季。”

目前主流视频平台与内容方的合作模式，基本上都是会员播放量分成+贴片广告分成，优酷则是纯会员播放量分成模式。根据潘恒的经验，像爱奇艺这种会员用户较多的大平台，会员分成占比要高于广告分成。

对于杭漫文化来说，动态漫画也是突破发展瓶颈的一次尝试。潘恒为我们列了一组数据，目前国内最大的漫画平台快看漫画，月活用户仅为4000万左右，而头部视频平台优酷、爱奇艺、腾讯视频的月活用户均为4~6亿，芒果TV的月活用户也在1.6亿左右，因此进军视频平台意味着接触更多的潜在用户，踏入更广阔的市场。

动态漫画的盈利模式本质上与漫画没有区别，大多数的中低端作品都沦为了竞争中的炮灰，甚至是“上线一周游”，只有少数的头部作品可以保持较好的盈利状况，因此这种高投入、高品质的作品，也就成了杭漫文化的必然选择。

潘恒表示：“《影后谋略》除了人物形象使用原漫画素材以外，其他的人物动作、表情、嘴型、配音，以及场景绘制、后期特效等等，都是以动画标准去制作的。而我们筹备中的热血少年向动态漫画《逆天剑神》，已经开始加入动画原画，使人物动作进一步呈现出与动画一样效果，这也是对动态漫画视觉体验上的一种精品化内容升级。”

从当下这个时间节点来看，动态漫画、尤其是短视频动态漫画或许真有机会成为一个好的生意。首先，MAU两亿以上的抖音、快手等短视频平台已经成为视频内容制作方处心积虑想拥有的渠道，但是本来国产动画产能就不多，价格又贵，周期又长，做的多半也都是头部作品，用漫画原作底层文件补帧+CV+音乐音效就能实现的动态漫画成为了动漫内容短视频化的最好选择。漫画平台们想得很清楚，短视频动态漫画一方面有机会在短视频平台取得不错流量，另一方面也可以克服自身用户过于低龄和垂直的弱点，抢夺短视频平台大众用户。同时短内容也更适合社交平台的传播，简直是上好的出圈机会。

腾讯动漫并入PCG后立刻调整平台内容，投入「漫动画」开发

现在漫画有很多优秀的作品，而动态漫画能更加丰富人们的阅读体验，视频的传播效果在媒介上又往往大于漫画本身的传播。动态漫画能完全还原漫画画面，提高漫画本身的传播力，在整个IP链条中提升作为源头的漫画存在地位，放大IP影响力。

2013年，从狼烟工作室的《山海师》开始

燃也现在团队中一共有24个人，一半是运营团队，另一半是制作团队。公司目前的业务除了前文提及的外包动态漫画业务以外，主要还是进行自己所代理漫画作品授权业务。燃也通过进行项目投资来对自己签下的作品实现占股，进行更深的绑定。

不过并不是所有内容都适合短视频的开发，短剧单集时长在1-2分钟，要在这么短的内容里俘获观众的心，这就要求作品有梗、反转不断，还对演员的选角、导演的视频语言功底要求极高。 同样不容忽视的是，在优异的播放数据与口碑背后，商业化变现，却受限于短视频这种内容形式，在现阶段难以直接带来效果。1-2分钟的单集时长制约了商业广告的植入，台词口播和中插广告都会略显突兀，动漫IP要想在短视频平台上实现更多的商业变现，似乎长路漫漫。

此外，短视频的持续火热给了竖屏动态漫一个更好展现机遇，这种将传统静态漫画经过经过简单的技术处理之后，转变为一种具有动态效果的漫画作品方式，赵波最开始并不看好，因为动态漫相对来说只是漫画到成熟影视化的一个过渡。然而后来他发现，动态漫在短视频平台上的数据表现非常亮眼，《水晶鞋》动态漫在抖音上的点赞量单集在10w以上，总播放已经超过了4800万，这让赵波看到了动态漫的影响力。

现在各方面对动态漫画的认可度都提高了许多。”抖漫工作室负责人童千格在接受骨朵国漫（ID：guduoguoman）采访时表示。目前各大平台方和漫画CP方自主开发动态漫画的意向日趋较强，甚至在签约漫画版权时，都会明确关于动态漫画的条款，这在以前是没有发生过的事。

　自有品牌多表现出三个层面的竞争力。一是品类宽，自有品牌能覆盖消费者日常80%的商品需求；二是品质优，奥乐齐跟供应商有长期的合作关系，在品控上一直非常稳定；三是买手精选能力，奥乐齐自有品牌对本地消费者需求的理解能力比很多本土零售商都好。 　　也因此，奥乐齐在产品价格上有优势。如4L饮用纯净水售价6元，都比同类市场瓶装水农夫山泉、怡宝等便宜35-40%。 　　在产品品质上，奥乐齐联合供应商共同开发自有品牌，能参与到产品的设计制造，建立了更完整的质量控制流程，从原材料、产品设计生产到供应链优化和质量检测上都能参与提升，确保商品的高品质。这也使得奥乐齐自有品牌产品虽然价低但品质高。 　　以鸡蛋为例，奥乐齐只做两款商品，一种是10枚450克的保洁鲜鸡蛋，售价10.9元，一种是12枚的540克营养谷物蛋，售价9.9元，售价比市场同类产品便宜40-50%，但鸡蛋都是紫外线灭菌、清洗涂膜还能对鸡蛋进行溯源。 　　独家的高性价比产品也让奥乐齐拥有自带流量效应，自有品牌去除了品牌溢价，能在同等质量商品上具备价格优势。在消费升级趋势下，相较于为品牌溢价买单，消费者更愿意为高品质买单。 　　值得注意的是，因为去掉了品牌加持，在货架和商品陈列上也发生了质变。在传统模式下，商品陈列是以利润驱动，毛利率高的商品陈列在消费者容易看到的位置以及强势品牌为更好的货架位置支付溢价。 　　而去掉品牌效应的自有品牌，产品陈列是依据流量、实际动销和利润率等多因素共同作用的，这需要零售商时刻保持对日常经营的精细化运营，同时对商品和消费者需求有极深的理解。

在店面陈列上，除了少量商品有货架或冷柜之外，多数商品采取少货架化或者直接在箱内选购，节省了店铺营业空间还节省了店员理货时间。面积小且需要的人员少，奥乐齐也获得了超高的坪效，门店坪效接近13000美元/平米，是沃尔玛坪效的2-3倍，远远高于同行竞争者。

奥乐齐货品多数为自有名牌。据奥乐齐北方集团2015年持续发展报告，其自有品牌占比高达93%，而国际零售企业自有品牌商品占比一般约为20%。

在商品选择上，奥乐齐有三条准则：销售量、平衡商品贡献率和质量。商品只有销量超过一定标准才能在奥乐齐中继续销售，对每种商品的贡献的计算公式是，商品贡献率=周转率×毛利率，这个公司也是奥乐齐选择商品的重要参考，只有销售额、库存额和毛利额协调得当，才能是业绩最大化，最后奥乐齐的产品都出自名牌生产厂家。

RedManta, LLC has already brought in over a million in revenue for 2020, all from Roblox. 

While that is a lofty goal, Team Adopt Me is working from a position of considerable strength. Speaking to GamesIndustry.biz in 2017, Roblox CEO Dave Baszucki said that the goal was for the platform's most successful creators to earn $10 million in annual revenue. Ling can't comment on the specifics of what Adopt Me makes, but his response suggests that Baszucki's milestone has already been passed by a number of teams.

The Adopt Me team certainly has more than one programmer now. Indeed, the team now has more than 30 people -- an order of magnitude greater than one year ago -- and Ling describes plans to grow to between 80 and 100 people before the end of 2020.

Perhaps the most prominent example in June 2019 was Adopt Me, which was at the start of a burst in popularity due to an update that added collectible pets to the game. The development team was just three people at that time, and they asked Ling to join to help supervise the growth that the game's ballooning popularity demanded.

The idea to have Dora mature, albeit it modestly, has been explored before. Viewers got a glimpse of a less polished older Dora in the 2009 holiday special “Dora’s Christmas Carol Adventure.” Also in 2009, in the “Dora’s Explorer Girls” special, viewers met a preteen Dora — whose look was the basis for this version — as she experienced her first concert. To promote the special, Nickelodeon teamed with Mattel to create a preteen Dora doll with new friends called the Dora Links Dolls, which initially generated concern about what an older Dora would look like

The aged-up Dora takes on city life and is in a school where she has human friends who take part in real-life and magical adventures. She’s armed with a magical charm bracelet, and in a true sign of the times, her dependable Map has been upgraded to a Map app on her phone. Music is also a heavy player in the new series.

Despite her preteen look, the older Dora is not necessarily intended for older kids. The show’s target audience, much like “Dora the Explorer,” is the preschool set of 2- to 5-year-olds.

But her maturation allows Nickelodeon to expand the Dora franchise (including the “Go, Diego, Go!” spinoff) even further while keeping “Dora the Explorer” alive. And it lands as the network carries ratings momentum with its preschool programming after being challenged last year by Disney’s newly formed kiddie channel Disney Junior.

The creators credit the success of "Dora the Explorer" to the extensive research that went into each episode. Gifford told NPR that researchers would read a "storybook version" of episodes to more than 200 kids before they aired.

Each episode relies on the advice of educators and cultural experts, and can take more than a year to produce, in part because not one gets into the air without first being screened in front of the most honest and feared jury: at least 75 children."Just the heartbreak to see those kids disappointed! We really take it personally. ... These 3 year olds," Gifford said. They really listen to the children, said Walsh Valdes.

Dora asks her audience to answer questions in an interactive show that includes silences that are long enough for viewers to suggest an answer.

Cortes advised that Dora should always be inclusive, so producers decided not to give her a particular country of origi

"She didn't start as a Latina or a heroine -- she was a forest animal," said co-creator and executive producer Valerie Walsh Valdes. "Nickelodeon actually asked us to consider making her a Latina because a recent study said that there were no positive bilingual characters on children's television."

Fisher Price Dora the Explorer toys

. However, as Q3 progressed, and exacerbated by the death of co-founder Orlando Corradi, trading took a turn down. The principal client for Rowly Powlys, and Dee and Duh, withdrew shortly after. Then, in the second half of November, three major Asian customers gave notice that they wished to review their investments in various properties following weak demand in their local markets.

Mondo TV handles both its own brands and third-party properties for which it is the representative, where it receives a commission. Rights are sold to merchandisers and toy manufacturers and there is therefore no physical stock risk. In December 2018, Mondo became the sub-licensee for Feisty Pets in Italy and the Iberian Peninsula, the first brand it represents not linked to a TV series. This broadens out the potential pool of licences that the group can acquire.

Enlargement of the structure dedicated to licensing and merchandising: The group is targeting mid-size toy companies, looking for a partner to help them expand their brand in European markets. In FY16 it reported a significant increase in licence sales, which increased to 19% of revenues (FY15: 4%). Sissi and Robot Trains are the key contributors currently and management is optimistic regarding the merchandising potential of YooHoo and Invention Story, currently in production.

Mondo TV Suisse, a division of major European animation producer/distributor Mondo TV, has secured a global licensing and merchandising agreement for the brand-new YooHoo & Friends kids’ series with Panini SpA. The deal will see the publishing subsidiary create and market a line of products including stickers, trading cards and photocards featuring the characters in local languages, set to launch in early 2018.

The alliance will focus on developing, producing and distributing unique and high-quality programs with strong merchandise appeal — at least eight new animated TV series in the next four years, which Mondo TV Group and Toon2Tango will co-produce and distribute. A number of projects are already being evaluated. These projects will target the international market, where Mondo TV’s main focus will be on Southern Europe and Asia. Toon2Tango will manage Northern and Central Europe and the English-speaking territories.

Mondo TV possesses one of the largest animation libraries in Europe, with more than 2,000 episodes of television series and more than 75 feature-length animated films

announced a major deal with Amazon for Latin America. Starting in April 2019, a great part of the Mondo TV library will be distributed on the Amazon Prime Video Direct platform to a customer base throughout the region. The deal includes animated favorites such as The Treasure Island, The Drakers, The Jungle Book and much more

Mondo TV is also bringing its live-action hit Heidi Bienvenida, produced by Mondo TV Iberoamerica along with Alianzas Producciones. Series 1, Heidi, Bienvenida a Casa (60 x 45’), follows a happy, carefree girl who leaves her beloved mountain home to live in the big city. The second, Heidi Bienvenida al Show (in production), sees Heidi return to the big city, making new friends and discovering a talent for creating perfumes

Also on the way is series two of Robot Trains (52 x 11’), co-produced with Korea’s CJ E&M, which introduces a number of new characters and themes. There’s even more big news in the shape of YooHoo to the Rescue (52 x 11’), as Netflix plans a worldwide Netflix Original Series spring 2019 release of the environmentally-focused adventures, co-produced by Mondo TV and Aurora World of Korea.

YooHoo to the Rescue (52 x 11’; 3D CGI; Preschool) is based on the line of multi-million-selling plush toys made by Aurora World. Now confirmed as a Netflix Original Series, the show is expected to launch in 2019.

Invention Story (104 x 11’; 3D CGI; Kids 5-9) is a science-themed co-production from Henan York Animation and Mondo TV that arrives next year. It’s the tale of an intelligent and creative fox who, in each episode, comes up with a new invention, delighting most of the inhabitants of his adopted home Carrot Town – and making a few very, very jealous.

Mondo TV Group is wagging its tail for toy property Puppy in My Pocket. The Italian toon powerhouse is producing an animated TV show based on Puppy, in conjunction with the creator, Giochi Preziosi. With an estimated budget of $7.3 million, the series will be co-produced with MEG and Preziosi and distributed by Mondo TV in Italy and abroad.

Padmalaya will retain commercial rights for the new shows in India, Pakistan, Sri Lanka and other countries in the region, as well as 20% of rights for the rest of the world except Italy.

India’s Padmalaya Telefilms Ltd., a subsidiary of Zee Telefilms Ltd, has entered into a $14 million co-production and licensing deal with animation house Mondo TV Group. The pact will see the production of four new animated TV series and two feature-length films.

Play Around pocket money toys range available from autumn at multiple outlets  

Outside animated entertainment, the 260-episode, web-based show House of Talent, is a major new undertaking for Mondo – and a big success! House of Talent is already a phenomenon: a crew of over 20 talented teenage online influencers boasting more than half a billion monthly impressions that has also inspired two novels (with more to come) and multi-venue fan meet-and-greets that have attracted over 80,000 fans since the beginning of 2019.

The second season of the animated action adventure Robot Trains – which is now rolling out across multiple markets – was quickly followed by an agreement between Mondo TV and CJ ENM, one of South Korea’s largest content and media companies, for the production of a third season of the series, featuring exciting new adventures for the Railwatch team members. The 52 x 11’ 3D CGI series will debut in autumn 2020. Mondo TV, which was the distributor and licensing agent of series one and added co-production to its portfolio for series two, is in charge of the whole production, along with distribution and licensing, for series three.

Mondo TV and Toon2Tango will also be showcasing some of the projects in development since the launch of their strategic alliance, announced in 2019.

Building on our impressive track record in co-production and distribution, we’re always on the lookout for great partnerships – and especially keen to develop partnerships on projects with great content creators worldwide.

Mondo TV Iberoamerica has secured a major agency agreement with producer Azteka Film SRL (Argentina) — headed by renowned film & TV producer Daniel Stigliano (CEO & Chairman), award-winning actress Maite Zumelzú (Director) and veteran TV exec Martin Cappelletti (International Producer). Under the deal, Mondo will negotiate and secure commercial agreements with third parties to obtain production financing and find international distribution for projects, and has been granted distribution rights in all territories except Argentina.

The new YooHoo to the Rescue CG series (52 x 11’), co-produced with Italy’s Mondo TV

Italian distributor and producer Mondo TV has become the exclusive agent and rep for TV rights of a slate of shows by Home Plate Entertainment across Africa and the Middle East. The company will hold the non-exclusive rights for on-demand. Among the various titles up for grabs is Wild Grinders, the recent animated comedy from MTV personality and professional skateboarder Rob Dyrdek.

Italian animation house Mondo TV will co-produce and distribute the new 2D animated series based on the Russian property Cat Leopold, in conjunction with Russian Mobile TV.

Though royalty fees vary based on the size and scope of the company, they can be as high as 10% of what an item sells for.

Soon, tech companies like Apple and Microsoft come out with their own sets of proprietary emoticons. But as emojis became a part of a new everyday language, The Smiley Company saw residual benefits in its licensing business: It rolled out partnerships with push toys, games, food companies, fashion retailers.

In 1999, he rolled out more than 470 iterations — what are purported to the first-ever set of portrait-orientation emoticons. “We had winky smileys, angry smiley, animal smileys, fruit smileys, flag smileys, Statue of Liberty smileys…there was a smiley for everything,” says Nicolas.

“It was totally against all marketing theory: If you have a logo, you don’t create new ones,” he says. “My father was furious. He said, ‘It’s stupid what you’re doing! You have a trademark! Keep the logo, but don’t change it!’” But Nicolas sensed a larger shift happening: The rise of the internet and mobile technology.

Nicolas formed The Smiley Company and secured trademarks for the ‘smiley’ brand name in 100 countries around the world. In countries where it was taken, the Loufranis bought it, or battled the owner in court (including a famous, 10-year legal battle with Walmart in the US).

While other licensors fought for strict control over how their logos were used, Loufrani set the smiley free and let it ride the tides of cultural movements. “He didn’t fight the adoption of the logo into something else,” says Nicolas. “My father didn’t care. He’s never cared about how people think. He is an unconventional person who always wants to try new things.”

This began naturally, with early electro DJs like Danny Rampling using the logo on fliers for parties — and once Loufrani sensed this new culture embracing his symbol, he capitalized on it. He reached out to DJs, stayed on top of all the trends, and hit the clubs, selling t-shirts and buttons. Simultaneously, this new market drove licensing deals with trendy apparel companies.

Two years into his trademark, Loufrani secured a lucrative partnership with the candy company Mars, which printed the smiley face on its chocolate Bonitos (the forerunner to M&Ms in Europe).

Loufrani printed the smiley onto 10 million stickers and handed them out for free. The icon’s simplistic joy played into the movement and was soon plastered on car bumpers all over the country.

After it ran in the France-Soir in January of 1972, a smattering of other newspapers paid to use it. But Loufrani realized he had to get the word out on a wider scale to attract a diversity of industries.

In 1971, while working for the paper France-Soir, he became fed up with the constant stream of negative news and decided to design a symbol that would alert readers of positive stories.

Licensing, or allowing other businesses to use your logo in exchange for a percentage of every sale, wasn’t a very popular business model in Europe at the time. Loufrani was among the earliest to venture into the space — and at first, it was a hard sell.

Oh, they can. Mr. Loufrani described a “dark side” to the smiley-face industry. He claimed that millions of unlicensed products are destroyed each year thanks to enforcement of his trademark. “We need to protect our existing licenses and our business,” he said. When Mr. Cherman sold his first smiley-face printed Chinatown Market shirt to Gen-Z retailer Urban Outfitters in late 2016, it took just two weeks for the Smiley Company to confront him with a cease and desist order.

With the myriad stressors of daily life today (social media bullies, harsh political pundits, a neighbor who won’t stop stealing your parking space) an uncomplicated smile can offer comfort, some say. “For me the smiley face is the beacon of light at a time when the world is so f**ked

Not everyone forks over a usage payment. The Smiley Company holds the trademark only to the quintessential yellow-and-black version.

We have now globally close to 300 licensees and the value of the smiley products selling globally is over $400 million

Today, the Smiley Company charges labels low (Zara and H&M ) and high (Fendi and Moncler) and everywhere in between a per-use fee to slap the recognizable grin on garments and other merchandise of all sorts.

His father, French journalist Franklin Loufrani, registered the smiley face in France in 1971 and licensed it to Levi’s and Mars candy.

Since 1996, London’s The Smiley Co. has held a trademark on the smiley in over 100 countries world-wide. “We’re a classic licensing business like Hello Kitty,” said CEO Nicolas Loufrani, 47, over the phone from his Paris home.

Smiley Co. has already secured a licencing deal for India with the clothing retailer Lifestyle as well as the gift store Archies. The brand has also partnered with Dream Theatre for India licencing. According to Loufrani, the coming months will see many new products with the trademarked logo on hit Indian stores including clothes, food, stationary, school bags, and toys.

全年全国艺术表演团体共演出296.80万场，比上年降低5.0%，其中赴农村演出171.27万场，赴农村演出场次占总演出场次的57.7%；国内观众12.30亿人次，比上年增加4.6%，其中农村观众7.68亿人次；演出收入127.77亿元，降低16.1%。

But “Brud holds no patents in AI, robotics, or related fields,” and Lil Miquela is little more than a well-crafted image.

Blawko, a boy and self-described “young robot sex symbol” whose mouth is constantly covered with designer pollution masks and who has a paltry 135,000 followers; and Bermuda, his ex-girlfriend and Lil Miquela’s blonde, Trump-voting foil, whose bio boasts that she is a “Robot/Unbothered mogul with daddy’s PIN and a flawless highlight

Whether digital influencers catch on or not, the fashion industry is about to spend a ton of money on them

Other brands, such as Barneys, don't seem to mind Miquela isn't real, either. Marissa Rosenblum, VP of content at Barneys New York, told CNNMoney the company was interested in reaching Miquela's audience of Gen Zers and didn't partner with her solely because she's a CGI.

It can be less risky than partnering with a person because there is more control over the image. "Assuming the design team can design quickly enough, they will always be able to post the right thing at the right time with the right angle that the brand wants," he said.

There won't be issues in a CGI's past that could get the brand in trouble, such as criminal history or use of profanity, Detert added. It's also a way for companies to show they're creative and on the cutting edge of technology.

But in April, she made a confession. "I am not a human being," she wrote in an Instagram post. "I'm a robot."

You seem to have a more hands-on approach with your community compared to many other influencers. For example, you direct message a lot of your followers if they want advice or have questions.

The 19-year-old, Los Angeles-based, Brazilian/Spanish model and musician fills her Instagram feed with an endless stream of "outfit-of-the-day" shots, featuring Chanel, Proenza Schouler, Supreme, Vetements and Vans. She shares pictures of herself attending events like ComplexCon with fellow influencers and celebrity friends, along with memes and inspirational quotes. She even uses her platform to support social causes including Black Lives Matter and transgender rights.

Her debut single "Not Mine" reached number eight on Spotify Viral in August 2017.

The 19-year-old, Los Angeles-based, Brazilian/Spanish model and musician fills her Instagram feed with an endless stream of "outfit-of-the-day" shots, featuring Chanel, Proenza Schouler, Supreme, Vetements and Vans. She shares pictures of herself attending events like ComplexCon with fellow influencers and celebrity friends, along with memes and inspirational quotes. She even uses her platform to support social causes including Black Lives Matter and transgender rights.

The freckle-faced, CGI-generated teen robot is the invention of startup Brud, which positions her as a “Gen Z tastemaker” and has inked brand partnerships for Miquela with companies including Samsung, Prada, Calvin Klein and YouTube.

Her internet fame didn’t start to take off until 2018, once her creators decided to feature her in online brand deals, advertisements and magazine features.

over 576,000 followers on the newly popular app Tik Tok

two years into the development of the Miquela persona, brud‘s founders knew that the fad could lose some of its luster as the is-she-or-Isn’t-she-real tension dissipates under the weight of continuously thwarted expectations

All of the virtual drama with Miquela started late last week when news outlets (including TechCrunch) reported that Miquela’s Instagram account (or that of her handlers) was hacked by operators of a social media account belonging to another virtual personality known as “Bermudaisbae” (a more right wing social media persona with fewer followers).McFedries, brud‘s founder and chief executive, confirmed that the Miquela account had been hacked in a text exchange with me, writing, “some redditor idiots hacked the page we think.”That was a lie.The account “hack” was architected by brud as part of an ongoing virtual reality drama playing out on Instagram and other social media platforms between avatars it had developed, all designed to attract media attention, according to people with knowledge of brud and its plans. It worked. 

It’s less well-known that the company is backed by some of the biggest names in venture capital investment — firms like Sequoia Capital. Our sources put the company’s funding somewhere around $6 million in its recent funding round

Meisheng has offered to purchase newly issued Jakks’ shares in order to increase its stake to 51 percent in a deal that would shift control of the company’s key licensing agreements – and possibly reshuffle its business model. The move would also give the Chinese company a greater portion of the $21.6 billion American toy market dominated by Mattel Inc. and Hasbro Inc.

Takeover bid

Nasdaq wasn’t playing nice when it sent out a notice to the maker of popular Harry Potter and Disney toys warning the publicly traded company it could be delisted.

These will be available at mass retailers for $29.99. The boots  will also be available separately for $16.99.

Available at Target, Walmart, Spirit Halloween and Amazon.

Costume costs are not cheap—anywhere from $20 to $100 or more, depending on the size (child vs. adult) and the character. Licensed cosplay costumes will cost more than generic ones. For example, on one popular online retail site, a toddler's Spider-Man costume cost $25, and the same outfit for an adult was $50. Homemade costumes can be cheaper—for example, for $10, you can buy a white, flat sheet and turn it into a ghost costume.

The increase in total revenue over fiscal 2018 is due to the acquisition of Kidoz Ltd. and strong demand for kid-safe advertising generated by the introduction of strong regulations worldwide.

The Kidoz KidSafe ad technology, all COPPA in America and GDPR-K in Europe approved, is now installed in more than 3,800 different apps, making it the most popular child focused mobile solution in the market.”

Advertising – Selling privacy compliant ads. Kids apps can drive a lot of traffic, but because of what I’ve described above this traffic doesn’t necessarily convert to sales. This is where the ads come in. Many parents are skeptical to the concept of ads for kids, but they are generally accepted in products that don’t require you to pay.

The Education market has an endless amount of estimates. This one says the global market in 2018 was around $6 trillion, of which less than 3% was spent on digital in 2018. But that’s still $152 billion. All of that isn’t for kids, so let’s give that a conservative haircut of 50%.

Let’s say that the kids app category on iOS and Google Play globally grossed around $350 million in 2018. For simplicity, let’s ignore all consoles and PC games (Nintendo, Steam, Xbox, Playstation, etc). I’m also skipping Amazon here (that is a major player) and all of the games outside of the kids category.

In early 2020, kids in the U.S. were spending 86 minutes on YouTube per day, down from 88 minutes in 2019. In the U.K., kids are watching 75 minutes per day, down from 77 minutes in 2019. And in Spain, kids watch 63 minutes per day, down from 66 minutes in 2019.

The No. 3 category in Apple's App Store is education, with nearly 200,000 apps as of 2017, according to statista.com, a provider of market and consumer data

For the world, I think spreading opportunity more equally.

The other thing is that I think it will help us advance some of the future technology we’re working on around remote presence

One is access to a wider talent pool

What are some of the benefits you see in having thousands of Facebook employees working in a more distributed way?

But we’re doing it in a methodical way. Some people would want us to just say ‘Okay, anyone in the company can can just decide now that they want to work remotely, and go buy a house wherever they want.’ And that’s not really the approach. If you’re experienced, if you’re at a certain level within the company, if you have good performance ratings, if you’re on a team that’s going to support remote work, and if you get approval, then you’ll be able to know now that you’ll be a permanent remote worker. And then we’ll open it up more over time as we learn. But this is too important of a thing to just say everyone can go do this, and then kind of figure it out along the way.

I think it’s a few things. One is that we’re working on a lot of remote presence technology and products. Everything from the private communication stuff that we’re working on, to Workplace for enterprise communication, to Portal for remote presence, which we’re rolling out a bunch of [new] features around. And then on the long-term stuff, VR and AR is all about giving people remote presence. So if you’re long on VR and AR and video chat, you have to believe in some capacity that you’re helping people be able to do whatever they want from wherever they are. So I think that that suggests a worldview that would lead to allowing people to work more remotely over time.

We’re going to focus on experienced employees rather than new college grads, who I think need to be in the office more, for training.

Facebook and other companies voicing an interest in remote work are also likely to find significant support from communities outside the Bay Area hoping to attract new, high-paid residents.

Some areas are already trying. A nonprofit program called Tulsa Remote offers $10,000 and other benefits to people who relocate to the Oklahoma city to work full-time for a company elsewhere. Vermont’s state government has a similar program.

Some companies with sizable or entirely remote teams try to minimize such problems by asking workers to get comfortable logging every discussion, decision, and disagreement with shared documents or other tools for coworkers.

It’s trickier for a manager to notice the cocked eyebrow or sharp inhalation that signals unease with a new decision when the meeting takes place via group video chat, rather than around a conference room table.

Choudhury says a hybrid of remote and office work is hard to pull off without disadvantaging people offsite who receive less attention from leadership, while onsite workers can more easily cater to executives and win promotions. “That’s a recipe for disaster,” he says. “To do it well you have to have all or the majority remote, and you have to have managers who are remote.”

But adopting remote work has costs less easily tracked on a spreadsheet. One of the biggest is coordinating and managing workers spread across locations and time zones, and able to meet only virtually.

Zuckerberg said surveying Facebook workers showed 20 percent were very or extremely interested in working remotely, with another 20 percent somewhat interested.

Raj Choudhury, a Harvard Business School professor who studies the geography of work, says chief financial officers generally love the idea of slashing real estate costs

Zuckerberg said Facebook will reduce salaries for people who move to cheaper places.

Zuckerberg and their executives will have to tear themselves from their Bay Area roots—in some cases physically—if they are to avoid making their new legions of remote workers second-class employees.

His announcement came after Twitter CEO Jack Dorsey said that company’s workers don’t have to ever return to the office if they prefer to work elsewhere.

And right now, as we speak in this very day in New York City, Clifford is taking Manhattan with production and New York City of the live-action feature coming in fall 2020 from Paramount. We are thrilled to see the renewed success of Scholastic entertainment as a creative engine that leverages platforms and media to bring new life to Scholastic content that has captivated young people for generations.

In the March to May period of any other year, our school-based book fairs and book clubs would be in full operation in 30,000 to 40,000 schools. This year, after a strong start in the first two weeks of March, just in the last few days, we have seen many of those schools either closed or preparing to close. This disruption is far-reaching and we are looking at a challenging situation in the final months of our FY '20 quarter, normally our most profitable period of the year.

Robinson set out to build the company's brand, and by the late '70s, Scholastic had created an entertainment division that was turning out TV shows based on its popular books, such as Clifford, the beloved "big red dog."

We can believe this is the last book on Harry Potter. We look at Harry Potter as a wonderful icing on top of the cake, but we are essentially a children’s book and media company, with our own distribution network and book clubs. There’s no question that Harry Potter gave us a big boost. It brought us name recognition, but Harry Potter never exceeded 8 percent of our total revenue.

Sure, even then the book had high production values. Scholastic had shelled out $105,000 for American rights to the title — about 10 times the average — and the publisher wanted to recoup some of its costs. While the book’s British sales had been healthy, there was no indication at that stage that this particular book would become a beloved international bestseller.

At my elementary school, the book fair was held in the library, during parent-teacher conferences. The idea was that parents could pick up their children’s report cards, and then they could take their kids to the book fair as a reward for good grades or an impetus to improve during the next term — so for me, Scholastic Book Fair nostalgia is inextricably associated with smart-kid smugness, parental approval, and the weird milk-and-sweat-and-paper smell of my school library, which was crammed into a corner of the basement next to the cafeteria/gym.

Every year, Scholastic holds 120,000 book fairs at schools across the US, and more internationally. The company has been putting on regional fairs since the 1970s and nationwide fairs since the ’80s, so Gen Xers, millennials, and Gen Zers alike grew up with the tradition of filing into the school library — or gym or cafeteria or auditorium or wherever your school could fit book tables — and finding pile after pile of riches, as if the perfect independent bookstore had come to your school and set up shop, just for a week, just for you. (After the fair is over, either a percentage of the revenue or some of the remaining stock goes to the school, in exchange for hosting the event.)

In 1981, Scholastic launched its in-school book fairs business with the purchase of a California book fair. Scholastic Book Fairs currently host more than 120,000 book sale events in partnership with schools across the country, giving more than 35 million students and their families’ access to thousands of affordable books and educational products.

It certainly looked like one. Metal bookshelves lined the room, topped with brightly colored banners designating genres—science, adventure, animals. Schoolchildren flitted from section to section, giggling as they went. A person dressed from head to toe as Clifford the Big Red Dog, the star of a well-known Scholastic-made book series, waved his fluffy red paws enthusiastically.

According to the EY report, growth of digital content consumption in India created a significant opportunity for broadcasters and OTT platform providers. Animation-based content had a major share in this growth of online content consumption.

AT&T has pledged to invest $4 billion in HBO Max over the next three years. That includes the cost of programming for the service as well as lost WarnerMedia earnings from steering movies and TV shows to HBO Max that otherwise would have been licensed to outside buyers.

Our goal remains to have theoperational issues that caused such a disruption in 2019 largely behind us as we enter Q3, and to make sure we enter 2021 with a warehousing and distribution cost run rate in line with historical norms

In February, we announced our newest preschool franchise, Mighty Express, will debut as planned on Netflix in September. Mighty Express features a cast of trains to give kids an expansive world filled with amazing adventures. Mighty Express is our biggest production to date and marks our first series launching directly on a streaming platform. The launch marks a shift for Spin Master, as we will hold the rights for all consumer products, not only for toys. This will allow us toimprove the margins we make on non-toy licensing and merchandising revenue streams.We also announced PAW Patrol: The Movie will be launched in August 2021 in association with Nickelodeon Movies and distributed by Paramount Pictures. The entertainment team is working on completing the voice talent, and we hope to share an update on the exciting cast soon

Sago now has over 150,000 subscribers across its platforms, including Sago School, which went live late in March after 16 months of development and is building very nicely

Sales of our digital toys have grown as parents look for ways to entertain and educate their kids at home. Overall, we saw views up over 30 percent on our Toca Boca and Sago Mini platforms in Q1 and views are up 100 percent currently. Toca Boca and Sago Mini combined now average 25 million monthly average users per month globally, giving us a strong base of users to expand both app sales and direct-to-consumers subscription-based products.

Cash, end of period

Segment information(continued)

As we look at the new content slate for 2020, many studios have shifted movie release dates through the latter half of 2020 and into 2021. As a result, we have adjusted our manufacturing time line to match the new release schedules and for items that were already in production, we will be holding them at our factories and in our warehouses.

Currently, we anticipate that Q2 is likely to be our most challenging quarter this year as we face the continued effects of COVID-19 around the world.

We have intensified our focus on our e-commerce initiatives and increased the number of SKUs on our website.

The tables below show the breakdown of net sales on a geographical and product category basis (in thousands):

Proactively drawing down a portion of the Company’s $75.0 million revolving credit facility to increase cash on hand; Reducing operating expenses across personnel, marketing, travel, professional fees and contract labor which is expected to decrease planned SG&A expenses by $15 million in the second quarter of 2020; Cutting non-product development capital expenditures, which is anticipated to reduce total capital expenditures by approximately one third for the year; and Proactively managing working capital by reducing incoming inventory to align with anticipated demand.

We are targeting $90 million of adjusted SG&A savings in 2020 compared to 2019. Most of the SG&A savings are structural and will come from the expansion or acceleration of actions we were contemplating before COVID-19. As part of that, yesterday, we announced the reduction of our global non-manufacturing workforce by 4%. The remainder of the SG&A savings are planned to be realized from temporary actions taken in response to COVID-19. As a reminder, separately from these efforts, we expect to realize $92 million of adjusted EBITDA savings this year from our recently concluded Structural Simplification program as well as the previously announced $50 million of savings from our Capital Light program.

global music licensing agreement with Warner Music. Warner Music will serve as the exclusive distributor of Mattel's current catalog of more than a thousand songs from brands including Barbie, Hot Wheels, American Girl, Fisher-Price and Thomas & Friends, among others. We will also be partnering with Warner Music on new music releases from our brands just.

Given the combination of these factors, we expect a more significant revenue decline in the second quarter than we experienced in the first quarter.

With the majority of our manufacturing and distribution centers operational and increasing demand for our toys, we believe the main challenge in the current environment has become getting our products into the hands of consumers. The retail disruptions we faced in March were also present in April and are expected to continue over a longer period, most likely through June. In addition, we will be impacted by the postponed launch of Universal's Minions which was expected to be a key driver for us this year and has moved to summer 2021 as well as a number of Olympic tie-ins across our brands.

eOne

segment revenues were down, primarily due to lower digital gaming revenues

International segment revenues declined. The European region started the year strong and revenues increased 6% for the quarter with physical store closures increasing late in the quarter. Latin America revenues were down, as the team works through high retail inventory at the start of the year. Store closures began later in Latin America, however, ecomm is a small percentage of Latin America revenues. Asia Pacific revenues declined as much of Asia was impacted by COVID-19 during the first quarter. Pacific revenues increased. The International segment operating loss improved led by gains in Europe including favorable product mix and lower expenses.

Hasbro’s total gaming category, including all gaming revenue, most notably MAGIC: THE GATHERING and MONOPOLY which are included in Franchise Brands in the table above, totaled $340.5 million for the first quarter 2020, up 40% versus $243.4 million for the first quarter 2019. Hasbro believes its gaming portfolio is a competitive differentiator and views it in its entirety.

However, certain consumer products’ categories, in particular, soft goods like apparel, are showing weakness within the industry, and we expect this will be a challenging period for license categories.

we expect the second quarter may be more challenging than the first. This is due to several factors, including that laid in the first quarter and the start to second quarter, more stores in countries have shutdown activities, entertainment properties where we are launching products that moved to later release dates in 2020, and into 2021. And some have gone straight to PVOD, and our own live-action in TV and film entertainment production is limited.