Mar 30, 2007, 4:45 GMT
New Delhi, March 30 (IANS) Indian filmmakers, who have so far ignored animation films, are now endorsing them in a big way and the latest to join the race is Media Factory India which is going to invest $5 million in its animated 3-D film 'Magik'.
'The film is India's answer to a 'Finding Nemo' or a 'Shrek'. So far the only landmark or milestone in India has been 'Hanuman'. It has created history by being 'the first' animation film, even though it has been made on an obsolete technology called 2D Cell animation,' said Aashish Chanana, CEO of Media Factory India.
'We would be the first one to use the latest 3D animation (technology) - a much more complex, more expensive and surely a real to life technology,' Chanana told IANS.
Chanana and his team are working on the film, revolving around lives of five children, for the last two years at their studio in Mumbai.
'Normally, an animated film takes three to five years for completion. The entire process is divided into three years, first the pre-production part, then the asset building where the actual characters are created and finally the animation and special effects part.
'Media Factory is the only animation studio in India, which also provides holistic content. The first fully made 3-D animated film 'Magik' would be ready for release next year (2008) and is currently in the production stage,' Chanana said.
Talking about the cost of the film, he said: 'Good animation films cost anywhere from $30 million to $100 million in Hollywood. Our budgets are surely not as high as that but, yes, it is surely much higher than the regular live action films in Bollywood and hence promise recoveries from a worldwide release.'
Apart from 'Magik', Media Factory has completed two Hollywood movies with special effects and is working on another project, where it is creating an alien in the form of a 'lizard man', similar to the one created for 'Jurassic Park'.
'Also we have an offer from a multinational to produce 10 animated films,' said Chanana, though he refused to divulge the names of the Hollywood production houses or directors.
Media Factory is also doing special effect for Ravi Chopra's 'Bhootnath' starring Amitabh Bachchan and also for an ad film featuring Sanjay Dutt.
The company is looking at partners for specific projects. It is talking to venture capitalists for a stake sale. 'We are evaluating both the options but nothing has been finalised yet,' added Chanana.
According to a report, the Indian animation industry is going to be worth $1 billion by 2010-2014.
Other big players who have jumped into the animation bandwagon are B.R. Films, whose 'Krishnaleela' is lined up for May release, and Shemaroo Entertainment with 'Ghatothkach: Master of Magic', to hit screens late this year.
UTV Software Communications is making four animation films including a $20 million film in co-production with Hollywood actor Will Smith's production house Overbrook. It has also teamed up with Porchlight Pictures to co-produce a $10 million film.
Adlabs Films plans to make two films in 2008 - one will be on popular Tamil superstar Rajanikanth and another for children's apparel retailing brand Gini & Jony.
Percept Picture Company is meanwhile working on the sequel of 'Hanuman' and planning to release it during Diwali festivals.
© 2007 Indo-Asian News Service
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