Toonz Expands to Canada

TRIVANDRUM: Indian outfit Toonz has set up shop in Canada, establishing Toonz Entertainment Global in partnership with Mediabiz International.

TEG, Canada will concentrate on producing both animation and live action properties. Its launch follows Toonz’ expansion into the U.S. with an office in Los Angeles. "The decision to set base in Canada stems from the growing co-operation between the North American production houses and Asian counterparts," said P. Jayakumar, CEO of Toonz Group. "It will help leverage the cost arbitrage of Asia vis-a-vis the conducive production ecosystem in Canada. The partnership with an established house like Mediabiz makes Toonz one step nearer to being an established global player."

Karine Martin, president and CEO of Mediabiz, noted, "Mediabiz is committed to partnering in a slate of projects with world-renowned production and distribution partners. The association with Toonz aims to offer a combination of top production expertise on all platforms as well as potential high capital investments to participate in the co-financing and co-production of world-class brands."

Projects that are in the pipeline include season two of Speed Racer and HTDT, budgeted at $6.2 million each. TEG, Canada aims to invest in projects worth $200 million in the next three years.