World Media Group, which has diverse media interests in India, is investing $10 million in a $26 million animation film and teleserial project being implemented by a Korean company.
ANI 21, a Korea-based company, will outsource for $8 million the animation production work to Indian companies — Toonz Animation and CG Studio. Out of this, Trivandrum-based Toonz’s contract will be around $4.5-5 million. Toonz will create 2D animation for television, while Chennai-based CG Studio will do 3D production work for the movie.
“We are investing $10 million in a project which is made for the international market by a group of Asian companies. This is a unique effort as pre-production and story will be not out of US but from the Korean company. Post production will be done in Korea and Singapore. Production work will be out of India,” said World Media Group director Sudesh Iyer.
The feature film called Twin Princess will be in English and will be dubbed into other languages. The duration of the movie will be 110 minutes while the television show will be of 52 half-hour episodes.
Distribution is being tied up with various companies including US-based Liberty International. The rights have been pre-sold to broadcasting networks in Korea, Japan and other Asian countries. The merchandising will be handled by Singapore-based Apple Tree.
Production work is scheduled to begin in July and the release is planned for 2005. “ANI, which has done animation outsourcing work, will be getting into original creation with this venture. The production work is being outsourced from Korea as India is a cheaper destination,” said Mr Iyer.
Singapore-based World Media Group, promoted by a group of Indians, has media interests in India, Australia, New Zealand, Fiji, Singapore, Indonesia and Bangladesh, and is exploring opportunities in Malaysia and Philippines. The businesses include TV content production, motion picture distribution, direct-to-home (DTH), and marketing of airtime sales. “Animation is a booming business in the US, Europe, Japan and Korea. The Media Development Authority of Singapore wants to make Singapore a media hub. We are keen to participate in this initiative and have invested in this ambitious multi-country animation project from the Asian region, aimed for the global market,” said Mr Iyer.