Paramount Announces In-House Animation Studio
Paramount Pictures is expanding its movie making stable by developing a new in-house animation department. The company, a part of entertainment empire Viacom Inc., has announced the launch as part of a long-term strategy for new development. The Paramount Animation division will create high-budget, high-quality releases that may receive funding as high as $100 million per project. The team is being assembled now and the company hopes to release their first title by 2014.
The animation division will work on films with broad appeal, including family orientated CGI pieces. Paramount is also looking to create film pieces based on titles held by Viacom’s Nickelodeon brand. Nickelodeon is still the biggest entertainment brand across the globe for children. Other Viacom brands will be tapped for inspiration or for merchandising as new Paramount Animation projects are released.
The Paramount Motion Picture Group and President Adam Goodman will oversee the new department. The initial production target will be one full length release each calendar year. While some talent has been chosen, the company is still searching for a qualified leader for the new division.
Paramount is stepping up its animation offerings as the format grows more popular among both children and adults. Improvements in CGI technology has made animation less time consuming and expensive to produce while allowing for a greater amount of realism. Paramount has produced top animated films in the past, including the fully-owned Rango released earlier this year. However, they haven’t had a fully dedicated and in-house team working solely on these projects before. Paramount also benefits from being part of the Viacom family because the animation division will have access to well-developed and marketed brands that already have a strong following. Paramount Pictures is banking on the success of its recent releases like Transformers: Dark of the Moon and Paranormal Activity 2.