Technopark-based animation company Toonz has set up its new production unit in Canada -- Toonz Entertainment Global (TEG) in association with Mediabiz International of Canada. TEG Canada will concentrate on producing both animation and live action properties, the company said.
“The decision to set up a base in Canada stems from the growing co-operation between the North American production houses and Asian counterparts. It will help leverage the cost arbitrage of Asia vis-à-vis the conducive production ecosystem in Canada,” said P Jayakumar, CEO, Toonz group.
Among the projects in the pipeline are the iconic Speed Racer TV series (season 2) and HTDT (TV series), both budgeted at $6.2 million each. TEG Canada aims to invest in projects worth $ 200 million in the next three years, a press release said.
