BAG Films Ltd has entered into a joint venture with SieunDesign Company Ltd, a Korean firm, which has presence in production, distribution and licensing of animation movies and TV series.
BAG Films has a strong presence in programming, films and new media business segments besides promoting a media school, ISOMES.
The new entity will significantly enhance BAG Films’ presence in the fast growing animation and new media business. The JV is proposed to be named Sieun & BAG Animation Pvt Ltd, with both companies holding an equal stake.
The JV proposes to commence operations with a 50-seat animation production studio (which will also do OEM productions). Sieun & BAG Animation will also administer and manage an animation academy, which will further extend BAG Films’ already strong presence in the media education space established through its media school, ISOMES.
Further, all animation and character licenses owned by SieunDesign internationally will be owned in India by the joint venture entity.
Commenting on the JV, Anurradha Prasad, Managing Director, BAG Films, said, “This initiative represents BAG Films’ entry into the animation business. We are delighted to tie up with SieunDesign, which is a leading international animation player, and look forward leveraging its experience to building a strong presence in India.”
SieunDesign currently owns 30 pieces of cartoon character content, which include Black Jelly, Booby, Yamm, Newton, Flower Terry, Tomato, 205 Friends, Little Tinny, Mr Cool, Dear Alice, Dennis Family, Eyeme Angel, Emily, Pumpkin Seed, Oh-Baby, Brambly and Moose Bear, besides the children’s performance “Rise Up Monster” character development. It also supplies cartoon content to several Korean mobile and on line services.