DQ Entertainment International and MoonScoop Group have entered into a strategic alliance under which both companies would co-produce at least five TV series and two feature films (animated and/or live action) for worldwide distribution, with estimated global costs of over $100 million.
DQ Entertainment International (DQE) is an AIM-listed animation entertainment company, while MoonScoop Group is one of the leading worldwide brand management and entertainment companies engaged in the production, distribution, licensing, merchandising, marketing and distributing of animated creations.
Both companies expect to release at least one TV series or film each year of the agreement, which runs through 2012. One or more of the co-productions would also potentially feature Indian mythology and characters, which are becoming increasingly popular with audiences worldwide. The companies would also focus on new media business development, following in the footsteps of MoonScoop’s successful launches of the kid-oriented VOD and broadband channels Kabillion (in the US) and Taffy Kids (in Europe).
Christophe di Sabatino, Co-Executive Chairman of The MoonScoop Group, said, “DQ Entertainment is one of the fastest-growing and most-respected animation studios in the world, and this strategic agreement will allow each of us to nurture our upcoming projects to ensure their success in today’s highly competitive marketplace.”
Tapaas Chakravarti, Chairman & CEO, DQE Group, said, “This is a magnificent strategic and functional partnership. Moonscoop and DQE have been associated together in the past for production of ‘The Fantastic Four’, and we are now co-producing and licensing the iconic ‘Casper’s Scare School.’ There are compelling synergies in working together and we will jointly produce world class television productions and feature films, including those with Indian mythology and stories. I am extremely pleased to extend our relationship with Moonscoop Group, one of the largest in this domain, to the next level of association.”
Laurent Billion, COO-Europe, The MoonScoop Group, explained, “The entertainment industry is becoming more globalised, and it is imperative to our future growth that we develop strategic partnerships with key companies such as DQ Entertainment. Each of our companies brings something unique to this agreement, which will ultimately benefit not only our companies, but our broadcast and licensing partners as well as the viewers of our content worldwide.”