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Toonz Media Group is expanding its global footprint, by acquiring a large European production base to meet the growing demands of premium animation.
However, P Jayakumar, the company’s CEO, declined to reveal the name of the European company, saying that 2019 marks an important year with “exciting developments” in many of its business divisions. On the production and distribution fronts, Toonz is actively forging more partnerships with leading producers around the world, and developing original IPs to satisfy the demand for quality kids and animation content.
Toonz has been growing over the past 20 years, and now houses around 400 artists and other talents in its studio. The company has increased its production and content delivery — which currently stand at around 10,000 minutes of 2D and 3D animation yearly — said Jayakumar.
Given the declining viewership of TV, Jayakumar said the company has plans to invest more on digital platforms. The global entertainment market has gone through a continual evolution spurred by advances in technology and software, changes in kids’ consumption behaviour, social trends, and globalisation.
Digital formats
Providing a real opportunity for digital education, Toonz is all set to launch a digital channel, “Zuper Kids”, based on Science, Technology, Engineering and Mathematics (STEM) content, in six months. “We are currently curating the content,” he added.
Toonz, which is celebrating its 20th anniversary this year, was instrumental in making India a global animation hub. Over this period, it has established alliances across the globe, foraying into gaming development, digital content creation, broadcasting, and training to enable future generations to apply their skills and talent in the animation industry, added Jayakumar.
The animation production industry in India is growing at a CAGR of 16 per cent, with around 1,000 players. “There is a lot of opportunity in creative ecosystem, wherein we are going to play a major role,” he said..
By forging partnerships and tie-ups, the company is targeting $250 million from its global business in the next 3-5 years, from the current $70 million. With offices in Europe, North America, Australia, Latin America and India, Toonz has a worldwide distribution network.
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