Toonz Animation Sets Up Canadian Production Arm in Montreal
Toonz Animation India has launched a Canadian production arm in partnership with Montreal-based Mediabiz International.
The Toonz Entertainment Global joint venture will focus on producing animation and live action properties out of a Montreal studio, starting with two TV series, Speed Racer and HTDT, both budgeted at $6.2 million each.
The Indo-Canadian production unit said it aims to invest around $200 million in indie production over the next three years.
Toonz Group CEO P. Jayakumar said setting up a Canadian base follows growing co-operation between North American production houses and their Asian counterparts.
“The partnership with an established house like Mediabiz makes Toonz one step nearer to being an established global player," Jayakumar added.
Joint projects from Toonz and Mediabiz will take advantage of tax credits and other soft money available to animation and TV series produced in Canada.
Founded in 1999, Toonz's client list includes the biggest names in media and entertainment like Marvel, Hallmark, Paramount, Disney, BBC and Cartoon Network.