It probably comes as no surprise that the incredible success of Columbia Pictures/Marvel Studios feature film release SPIDER-MAN ($800 million worldwide) has led the company into strong second quarter revenues. Revenue in this quarter rose to $71 million from $45.9 million a year ago. For its quarter ended June 30, Marvel reported a net profit of $4.2 million after provisions for preferred dividends, or 10 cents a share, compared with a net loss of $11.4 million, or 33 cents a share, a year before.
Citing the success of MONSTERS, INC. and strong sales of its Renderman animation software among other factors, Pixar Animation Studios announced higher than expected earnings for its fiscal second quarter ended June 29, 2002. For the quarter, Pixar earned $10.4 million or $0.20 per diluted share. These results compare to earnings of $8.8 million, or $0.17 per diluted share, achieved in the year-ago quarter. Revenues for the quarter were $22.8 million, as compared to $16.7 million in the year-ago quarter.
Family entertainment producer TV-Loonland AG continues to expand operations in its home entertainment unit by increasing its stake in the UK-based DVD and video distributor Metrodome Group plc, London. The deal, worth some £1.25 million (US$1.92 million), will be paid with 7.36 million Metrodome shares, increasing TV-Loonland's share in the company from 29.9% to a majority stake of 54.18%. Metrodome will subsequently assume Loonland's home entertainment rights for such series as PONGWIFFY, LITTLE GHOSTS, YVON OF THE YUKON and THE CRAMP TWINS.
IMotion Picture Screen Cartoonists, Local 839 IATSE will now be known as The Animation Guild. The union, which represents animators, designers, technical crafts and story people in the animation field, has been known by its former name (or the acronym MPSC) for over fifty years. But effective with its approval by the IATSE general executive board on July 23 and the Local 839 membership on July 30, 2002, the union will now official be known as The Animation Guild and Affiliated Optical Electronic and Graphic Arts, Local 839 IATSE.
Nickelodeon has bought out the other 50 percent of educational network Noggin from joint venture partner Sesame Workshop, pending customary regulatory approvals. Financial details of the buyout were not disclosed. The channel will be operated and managed by Nickelodeon, with Noggin general manager Tom Ascheim continuing to oversee the networks day-to-day operations. Ascheim will report to Herb Scannell, president, Nickelodeon, TV Land and The New TNN.
Strega Imaging, a new visual FX and motion graphics design company, has opened its doors in Universal City, California. Partners and co-creative directors Colin Cheer and Michael Jackson gained their industry experience from their previous work on an eclectic array of projects. Cheer, an illustrator and designer, was involved in the early days of the desktop publishing revolution, and in 1997 he was recruited to head the 3D effects team at 525 Studios, working on effects for the series THE OUTER LIMITS along with other film and video projects.
AtomTelevision, a new joint venture between Internet short film provider AtomFilms and Global Media Holdings, has announced it will launch a digital network in early 2003 using its extensive library of short films and animation titles. As part of AtomTelevision's debut, the company is announcing the launch of its VOD (video-on-demand) initiative, Atom on Demand.
Despite the strong box office performance of recent hits LILO & STITCH and THE ROOKIE, The Walt Disney Company has reported lower than expected earnings for the quarter and nine months ended June 30, 2002. Referencing the downturn in the international and domestic travel and tourism industry as well as the economy as a whole, Disney cited in particular the drop-off of attendance at its domestic theme parks and resorts, and the lack of television advertising dollars at the ABC television network.
Vancouver, Canada's Pork and Beans Productions recently moved to a brand new 5000 square foot studio in the Yaletown district of Vancouver. The company is expanding to accommodate a growing staff as they prepare to start Flash animation production on the series YAKKITY YAK, in association with Studio B Productions. Distributed by MTV Networks International, YAKKITY YAK was created by Australian company Kapow Pictures and follows the life of a yak that longs for his big break into show business. It is scheduled to broadcast on Teletoon and Nickelodeon Australia in 2003.
NorthAmerican anime distributor A.D. Vision, Inc. (ADV), has partneredwith CoMix Wave, Inc., a Japanese anime and manga management andproduction company, to promote and popularize CoMix Wave's creativetalent and holdings. CoMix Wave manages more than 50 of Japan's topmanga artists and illustrators, and works to discover and promote newtalent within the industry. The company also manages production --both in Japan and overseas -- of a variety of anime projects,
Pixar Animation Studios has settled its lawsuit againstsoftware developer Exluna, Inc. The settlement resolves all pendinglitigation and any other disputes between the two companies. Exluna,a privately held software company specializing in softwaredevelopment technology for film quality graphics rendering, wascharged with the misappropriation of trade secrets, copyrightinfringement and patent infringement. In a separate announcement,NVIDIA Corp. announced the acquisition of Exluna, Inc. as part of
Disney has already announced plans to capitalize on the success of its 2D animated summer hit LILO & STITCH with a direct-to-video sequel and a television series. Thomas Schumacher, head of Disney Feature Animation, made the announcement. The video sequel, currently entitled STITCH! -- THE MOVIE, is slated for release in 2003 and will serve as a bridge between the feature film and the television series, currently under development with the working title of STITCH! -- THE TV SERIES, and set to launch on Disney Channel in fall 2003. In STITCH!
On July 9, 2002 children's television producer Nelvana laid off 65 staff in its production department across all positions. According to a Nelvana spokesperson, the move was part of a strategic reorganization of the department to shift towards a team-based production unit with a smaller full-time staff, allowing the incorporation of more contract positions. Some of those laid off were given call-back dates for employment on future Nelvana projects. Nelvana is owned by Corus Entertainment, a Canadian-based media and entertainment company.
Studio City, California-based animation studio Fred Films has signed an agreement with the International Alliance of Theatrical and Stage Employees and its Motion Picture Screen Cartoonists Local 839 IATSE (Local 839). Fred Films and Local 839 have been in negotiations since the union received representation cards from a majority of the company's staff.
German animation company RTV Family Entertainment has written off 100 million Euros in a bid to keep the company alive, after the collapse of the Kirch Media Group and other precipitating factors led to a near collapse of RTV last month. RTV has returned all shares in Dutch documentary production company Off the Fence to Ellen Windemuth, former owner and previous managing director. In return, Windemuth releases RTV from its financial obligations. In addition, RTV has written off Sydney, Australia-based subsidiary Energee Entertainment in its entirety.
Spanish production companies MSL and Grupo Trimagen have recently signed a joint venture agreement to create animated programming. The new international company, MSL-TRIMAGEN, will develop, produce and market a wide range of animated series and feature films. The company is currently working at the head offices in Madrid and Barcelona on several projects, including BUNNIBAL, a 26 x 13-minute animated series currently in pre-production.
Internet animation provider Mondo Media has entered into a contentagreement with cable network Comedy Central for "Cartoon of the Day,"featuring the best of Mondo Mini Shows on comedycentral.com. Theshows will be culled from Mondo Media's library of over 3,000 minutesof original animation, including series such as THE GOD & DEVIL SHOW,HAPPY TREE FRIENDS and HEAVY METAL GUY. As part of the agreement,Mondo will also supply Comedy Central with the best material fromother third-party Internet animation creators, including several
With no staff and no senior management, it seems as though Vancouver-based Sextant Entertainment Group Inc., co-producers of THE MR. HELL SHOW!, is no longer in business. A press release issued by Sextant announced that the company has been put into receivership after it was unable to come to an arrangement with creditors pursuant to the Companies' Creditors Arrangement Act (CCAA) that Sextant had been granted in early June.
Lucasfilm Ltd. has spun off itsTHX digital cinema division as an independent company, THX Ltd.Lucasfilm remains an investor in the newly formed, privately heldcompany, along with other corporate and private investors. Theformation of THX Ltd. will allow the company the opportunity toexpand into markets outside of Lucasfilm's core areas. THX Ltd. willreorganize its programs and services into five key areas: THXStudio, THX Cinema, THX Home, THX Mobile and THX Games. In the
Digital Production Management(DPM) systems provider NXN Software has expanded its Japaneseoperations by opening a new subsidiary in Tokyo and appointingindustry veteran Shigemitsu Ejiri as vice president of sales, Japan.Ejiri comes to NXN Software from Borland, Japan, where he served asthe vice president of sales. Prior to Borland, Ejiri spent 16 yearsat Nichimen Corporation, holding the position of executive directorand head of sales for four years. NXN DPM solutions are used to
Thinking about a career inthe game development industry? Well, pick up a copy of GAME DEVELOPERmagazine's July 2002 issue to read the results of its annual gamedeveloper salary survey. The survey indicates that the gamedevelopment industry has remained healthy despite the downturn in theoverall U.S. economy. According to GAME DEVELOPER, the average gameprogrammer's salary is $66,000 and a technical director with six ormore years experience earns an average of $104,000. On average, game
German children's television producer RTV Family Entertainment has received a temporary reprieve from its financial woes in the form of a bridge credit line issued by a banking syndicate. The funds are backed by a letter of credit from RTV's majority shareholder Ravensburger AG, and will enable the floundering company to cover all current and past due liabilities. RTV still needs approximately 4 million Euro (US$3.7M) to continue operations through the end of the year.
The 2003edition of The Brussels Cartoon and Animation Festival will have anew look, with a poster created by Spanish artist Carles Porta, and anew name -- Anima 2003. Since 1982, Brussels has hosted the annualevent devoted to animation and welcomed such animation luminaries asTim Burton, Paul Grimault, Kihachiro Kawamoto, John Lasseter, RenéLaloux, Peter Lord, Moebius, Yuri Norstein and Nick Park. Over thepast five years the festival organizers have initiated a
JustAction Group, international distributors for BUTT UGLY MARTIANS, hasrecently merged with rights management and distribution companyTarget. Just Group, which collapsed last year after CEO WilfShorrocks and commercial director Paula Shorrock were dismissed, duein part to a revision of expected revenue from BUTT UGLY MARTIANSplus a less than successful purchase of publishers MediaKey, has hada recent cash infusion of 1.85M pounds (US$2.7M) from itsshareholders, who have agreed to acquire a majority shareholding in