Toonz Entertainment Global has set up shop in Montreal and plans to produce US$200 million in film and TV projects over the next two years, following a new partnership between India’s Toonz Entertainment and Mediabiz International of Canada.
According to Variety, Toonz Entertainment Global will work on the animated 26-part TV series ‘Speed Racer’ which is currently in production by Indian, Canadian and Irish interests, and ‘HTDT’, based on the Humpty Dumpty story.
The new venture is also reportedly soon embarking on nine TV movies based on a series of books aimed at a youth audience, although further details are yet to be announced.
“The decision to set our base in Canada stems from the growing cooperation between the North American production houses and Asian counterparts,” said P Jayakumar, CEO, Toonz Group. “The partnership with an established house like Mediabiz makes Toonz one step nearer to being an established global player.”
The reason behind the deal, reports Variety, is that it is hard to finance and produce projects in just one territory. “A project needs to be global and appeal around the world,” said Karine Martin, CEO, Mediabiz. “Toonz is very much present in Asia and has a strong presence in the US because of its relationship with Marvel, Disney, Paramount and Hasbro.”