Rhythm and Hues, an academy award winning animation studio having large-scale outsourcing operations in India, is foraying into production of original content.
MUMBAI: Rhythm and Hues, an academy award winning animation studio having large-scale outsourcing operations in India, is foraying into production of original content.
The Hollywood-based company, with operations in Mumbai and Hyderabad, will raise $100 million. The amount will then be used in various animated co-productions.
Prashant Babu Buyyala, managing director, Rhythm and Hues India, told DNA Money “We are currently putting together several ideas for original content. In the meanwhile, we are also taking to various studios in Hollywood as well as independent funds.”
According to Buyyala, creating a full-length animation feature is expensive as it costs around $75-125 million. This makes it difficult for the company to independently finance a movie.
Currently, Rhythm and Hues gas 250 employees in its India facilities. The move to produce original content may see the company increasing its head count in the country.
Animation films have been doing well in the global box office in the past few years. According to Nasscom, the global animation market will be worth about $80 billion by 2010. This phenomenal growth will see vying for a significant slice of the outsourcing pie in animation and visual effects.
Rhythm and Hues is recognised internationally as one of Hollywood’s top visual effects and animation facilities and has more than 100 feature films to its credit. It was awarded an Oscar for Achievement in Visual Effects at the 80th Annual Academy Awards in February for its animation and effects work for “The Golden Compass.” It has done the VFX work for summer movies including The Mummy: Tomb of the Dragon Emperor and the Incredible Hulk. A large chunk of the special effects for these movies were carried out in its Indian studios.
n_john@dnaindia.net
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