Why Is The Dolphin Entertainment (DLPN) Stock Soaring Today?

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The leading entertainment marketing and premium content production company, Dolphin Entertainment, Inc. (NASDAQ: DLPN) opened its trading on March 23 with a price increase of more than 100%.

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In terms of the 52-week range for Dolphin Entertainment stock, the price has ranged from $1.95 to $12.45. As of the writing of this article, the DLPN stock has risen from the previous closing price of $5.75 to $13.59. With the creation of a new division for by Dolphin Entertainment, the DLPN stock price has been on the rise of 149% in early trades today.


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Why was the division created?

Dolphin Entertainment is a leading media company developing exclusive premium content and marketing services for media companies. DLPN provides expert marketing and publicity services to the top brands in the film, music, hospitality, television, and gaming industries through its subsidiaries, 42West, The Door, and Shore Fire Media.

With a full-service branding capability as well as social media marketing and influencer marketing services, Viewpoint Creative and Be Social complement each other’s efforts. Since its inception in 2006, DLPN’s original content production business has produced award-winning digital series and multiple feature films.

Earlier today, Dolphin Entertainment announced that they have launched a new Non Fungible Token (NFT) division.

This division will be responsible for designing, producing, releasing and promoting NFT products for its own industry as well as its clients, which includes film, television, music, game, epicurean and technology.

Executives working in Dolphin’s newly created division will come from all six of its wholly-owned subsidiaries. They will combine their expertise in marketing, sales, public relations, production, digital design, and production.

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Conclusion:

With the entry of NFTs into the digital entertainment world of Dolphin Entertainment (DLPN), has pushed it to create a dedicated division. Through this, DLPN will be leveraging its advantageous position to maximize revenue gains.

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