An animation studio is a company producing animated media. The broadest such companies conceive of products to produce, own the physical equipment for production, employ operators for that equipment, and hold a major stake in the sales or rentals of the media produced. They also own rights over merchandising and creative rights for characters created/held by the company, much like authors holding copyrights. In some early cases, they also held patent rights over methods of animation used in certain studios that were used for boosting productivity. Overall, they are business concerns and can function as such in legal terms.

Bray Productions was a pioneering American animation studio that produced several popular cartoons during the years of World War I and the early interwar era, becoming a springboard for several key animators of the 20th century, including the Fleischer brothers, Walter Lantz, Paul Terry, Shamus Culhane and Grim Natwick among others.