Post by The Ultimate Nullifier on Jun 2, 2014 14:22:50 GMT -6
variety.com/2014/biz/news/indian-cartoon-firm-dq-targets-hollywood-vfx-market-1201205819/
HONG KONG – India’s animation leader DQ Entertainment says it will become involved in providing special effects for Hollywood movies in the coming year.
The goal was revealed by the company as it announced an increase in profits for the 2013-14 financial year to end of March.
Profits after tax rose by 12% to INR429 million ($7.14 million) as revenues grew by 5% to INR2.40 billion ($39.3 million).
The company, which acts as an animation sub-contractor, co-producer and increasingly as IP developer, said that has grown recently by focusing on its TV content production and distribution business and by expanding more into new media. It says that further growth will come as digital platforms such as Netflix, Hulu, Vudu, Amazon and YouTube license more content.
It recently completed production of series including “NFL2″ (Rollman Entertainment for Nick Toons), “Peter Pan Season 1″ (with France’s Method Animation) and “The Jungle Book Season 2″ (with Germany’s ZDF, and France’s TF1 and Moonscoop). Upcoming productions include “Manav,” a TV movie with Disney India and “Lassie & Friends,” a series being co-produced with DreamWorks Classics.
The company is well placed to expand into the Hollywood digital effects sector. For the year just completed it saw 21% of revenues come from North America, but its forward order book sees that growing to some 52%.
HONG KONG – India’s animation leader DQ Entertainment says it will become involved in providing special effects for Hollywood movies in the coming year.
The goal was revealed by the company as it announced an increase in profits for the 2013-14 financial year to end of March.
Profits after tax rose by 12% to INR429 million ($7.14 million) as revenues grew by 5% to INR2.40 billion ($39.3 million).
The company, which acts as an animation sub-contractor, co-producer and increasingly as IP developer, said that has grown recently by focusing on its TV content production and distribution business and by expanding more into new media. It says that further growth will come as digital platforms such as Netflix, Hulu, Vudu, Amazon and YouTube license more content.
It recently completed production of series including “NFL2″ (Rollman Entertainment for Nick Toons), “Peter Pan Season 1″ (with France’s Method Animation) and “The Jungle Book Season 2″ (with Germany’s ZDF, and France’s TF1 and Moonscoop). Upcoming productions include “Manav,” a TV movie with Disney India and “Lassie & Friends,” a series being co-produced with DreamWorks Classics.
The company is well placed to expand into the Hollywood digital effects sector. For the year just completed it saw 21% of revenues come from North America, but its forward order book sees that growing to some 52%.