Hyderabad-based animation, gaming and entertainment company DQ Entertainment International, a wholly-owned subsidiary of the AIM-listed DQ Entertainment Plc, is working on a high-definition 3D stereoscopic (with wearable red and blue glasses for viewing pleasure) live action children’s feature film with a budget of euro 21 million (approximately Rs 145 crore).
“The film, based on a popular European fiction novel, will be funded by French production house Method Films in which DQE has a 20 per cent stake. DQE will be doing the animation, rendering (3D work in computer), post-production and composition for which it will be given service revenues. The film will complete production by September 2010 and have a global theatrical release by winter 2010 or beginning of 2011 with the Asian rights remaining with the company,” Tapaas Chakravarti, chairman and chief executive officer of the DQE Group, told Business Standard, while declining to spell out the title of the film.
Stating that DQE would henceforth co-produce all its future projects using the stereoscopic technology to increase viewership of its global broadcast partners, Chakravarti said the company was in the process of developing Season-II of its Jungle Book animated TV series in stereoscopic. The Season-II will be fully funded through pre-sales.
“Broadcasters in Germany, France, US and Japan are already using the stereoscopic technology for beaming TV programmes, while Cartoon Network and Disney are set to introduce this technology in India in the next six months. We will be using the assets of Jungle Book Season-I for the new series and hence the budget for the Season-II will be around euro 8.5 million (Rs 58.65 crore). Jungle Book Season-II will be delivered by the end of 2011,” he added.
DQE will be raising Rs 212 crore through an initial public offering by December this year for facility expansion, manpower deployment, training, strengthening its global licensing and distribution network, and intellectual property. The company, which currently employs 3,500 professional globally, will be adding 700 more by April-May next year.
Chakravarti said the company was contemplating having a own campus and moving its Hyderabad operations to the new premises. “The state government has allotted 11 acre to us at Kokapet on the city outskirts. We are in discussion with six of our co-production and broadcasting partners for funding. We should be moving into the SEZ campus by 2012,” he added.
