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Time Warner to Produce Anime

posted on 2005-01-31 01:04 EST
Joint Project with Itochu to see Anime Broadcast Simultaneously on Cartoon Network in Japan and America

Time Warner and Itochu Corp (C. Itoh & Co.) have announced that they will jointly produce new anime to be broadcast simultaneously on Cartoon Network in Japan and North America.

By April 2006, the joint venture is expected to be producing weekly episodes for three shows, at a budget of 20 million yen ($US 190,000) per episode, 20 to 50 percent higher than the current average budget for anime TV series. The added budget will be spent on higher-than-average quality animation using more animators and other staff than is typically used in anime.

By June 2005, the joint venture is expected to be set up with a fund of 3 billion yen (US$29 million) and will seek funding from other partners including broadcasters, animation studios, and toy manufacturers.

In addition to producing the anime, the companies expect to profit from the development and marketing of related merchandise. Guaranteed spots on the American and Japanese Cartoon Networks, combined with the worldwide popularity of anime, is expected to insure better than average returns on investment, enticing investors.

The anime series will also be marketed to international broadcasters in Europe and Asia.

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