DQ Entertainment has signed an agreement with the French entertainment company Moonscoop to develop and produce Jungle Book. The agreement would be for its upcoming 3D animated TV series – ‘The Jungle Book’ based on the work of Rudyard Kipling.
The deal envisages a Euro 9.2 million production budget for its TV series. The deal assumes significance as it would entail DQ to get help in production and global distribution of TV series.
DQ Entertainment is also said to be working on international animation project such as Iron Man, Casper, Pinky & Perky, Twisted Whiskers, Mikido, Little Nick, Le Petit Prince, Mickey Mouse Clubhouse Season 3.
India is currently witnessing heavy inflows into entertainment and animation sector. Many international Production Houses are partnering with their Indian counterparts to work in India and in some cases on global scale. In 2008 Walt Disney Pictures produced Roadside Romeo jointly with Yash Raj Films .
The animation sector is serving major outsourcing needs for their global clientele and has major players like Tata elxsi, Prime focus, Yash Raj Films, Red Chillies-VFX,Rhythm & Hues and DQ entertainment.
According to Nasscom report, the animation industry in India is poised to reach US$1.16 billion by 2012 from US$460 million in 2008 at a compound annual growth rate of 27 percent .
Currently the average production cost of Indian animation movies is US$2 million to US$2.5 million with an average revenue realization of US$7.5 million .
The current Animation market could be segmented as :
Indian animation companies are also building global reach by setting up studios abroad and earning recognition for their work. Rhythm & Hues India recenlty won an Oscar for the Best Visual Effects for the film ‘The Golden Compass‘.
