Paramount Pictures Starts Animation Division

LOS ANGELES: Paramount Pictures is launching an in-house animation division to roll out feature-film titles with budgets of up to $100 million each, with the first slated for release in 2014.

Brad Grey, the studio’s chairman and CEO, said the move was part of a long-term growth strategy. "Establishing an in-house animation division was the logical next step for us," he said. "The marketplace has never offered as many opportunities to create wonderfully imaginative pictures at very appealing budget levels, so we feel this is a perfect moment to launch this effort. We are now eager to expand in animation with appropriate and prudent overhead and production budgets in a way that will allow us to be nimble, creative and innovative. Paramount also has the distinct advantage of being part of the Viacom family, giving us the ability to leverage its portfolio of powerful and youthful brands to create and market great films and consumer products."

Paramount Animation aims to develop family CGI animated films, with a key piece being titles under the Nickelodeon label. The division will fall under the Paramount Motion Picture Group, reporting to its president, Adam Goodman. A search is under way for an executive to lead Paramount Animation.

Paramount’s first fully owned CGI animated property was the March 2011 release Rango, which has grossed over $240 million worldwide.