Imagine Entertainment and Animal Logic have formed a joint venture to develop, produce and finance a slate of six feature length animated and hybrid family films over the next five years.
The announcement was made by Imagine, chairman, Brian Grazer and Animal Logic, CEO, Zareh Nalbandian on 3 April, 2017.
“The animation space consistently outperforms other genres and we wanted to enter into that space by partnering with a company that is at the forefront of creative and technical achievement. Animal Logic is one of the industry’s most highly regarded digital production studios and I am excited for what we can create by combining our resources and talent in storytelling,” said Grazer.
The companies are raising equity financing to cover about half of the production and development costs, with budgets targeted between $75 and $85 million.
“Animal Logic’s work in the animation space is ground breaking. Our partnership expands our mutually shared vision to create visually stunning, inventive, and heart-warming stories that appeal to families,” added Imagine, chairman, Ron Howard. “Their technical capabilities for animation are impressive and distinctive, and the possibilities for new material are limitless in this highly coveted space.”
Imagine, CEO, Charlie Corwin said, “Launching this animation partnership with Animal Logic is an exciting example of how the Imagine brand thrives in new content genres.”
Both firms are experienced in the family film space, with Imagine – recognised as one of the most successful independent storytellers in the entertainment industry – being behind films like How The Grinch Stole Christmas and the Emmy Award winning series Curious George, and Animal Logic’s successes including Best Animated Feature Oscar winner Happy Feet, and the hugely successful The Lego Movie franchise. The company is currently producing Peter Rabbit for Columbia Pictures for a 2018 release.
“We could not have hoped for a more perfect collaboration than with Ron, Brian and the Imagine team to bring a slate of engaging and inventive stories to family audiences around the world,” stated Nalbandian. “We are inspired by the potential of our combined slate of projects and the strong relationships and material we will bring to our partnership. We have a tremendous opportunity to inspire the next generation of family audiences with ground breaking and captivating content driven by our common passion for great storytelling.”
“Partnering with Imagine will provide an incredible creative platform for the next evolution of our company,” said Animal Logic, chief business officer Robert Norton. “It will also offer amazing business opportunities for our companies and investors.”
