UTV, the & #BANNER1 & # television software major, is taking its animation business very seriously, specially after it bagged two new projects from international production houses, which collectively are worth around US$ 14 million.
The first deal is with PorchLight Production for an animated feature film - 'Jay Jay's Race Around The World' - and the second one with Mike Young Productions for co-producing 26 episodes of an animated series for television.
The feature film project is estimated to be around $10 million, which will be invested by UTV, Porchlight and the distributor of this movie. There is a revenue sharing agreement among the three partners, the details of which couldn't be ascertained.
The other project with Mike and Young is worth about $3 million.
Post the deals, UTV will co-produce the full-length animated movie, 'Jay Jay's Race Around The World', scripting for which is on. The film will be released late next year. The next co-production is for a TV series 'Cosmic Quantum Ray' and for an animation services deal in a combination of direct to DVD titles and TV episodes in 3D animation.
Ronald D'mello, COO, UTV, says that these will be mainstream English animated movies primarily for the international market and will be released in places such as the US. But, since UTV is co-producing them, they might be released in India simultaneously.
After Hanuman, the company does not want to immediately produce more animated films for Indian market specifically. "With more than one-third of India's population comprising children, the market for animation is growing. However, we want to take some time before launching an exclusive project for the Indian audience", says D'mello.
Besides, for the coming months, UTV has some movies lined up and some programmes for Doordarshan, Sony and STAR One.
© 2006 agencyfaqs!