All the big animation players are displaying their wares at Annecy. Where else would they show them this time of year?
Coming off the success of its Oscar-winning Spider-Man: Into the Spider-Verse, [Sony Pictures Animation] announced that China’s Tencent has boarded Jackie Chan’s Wish Dragon, and also revealed three projects in development – a reimagining of The Boondocks, horror series Hungry Ghosts, based on the Dark Horse Graphic Novel by the late Anthony Bourdain and Joel Rose, and comedy Superbago, a collabortion with Stoopid Buddy Stoodios – along with two new adult-skewing animated features from Genndy Tartakovsky. ...
There's more and more production of cartoons because:
A) The costs are low* and the profit margins are large.
B) Theatrical animation is, after super-heroes, the most profitable type of feature out there.
C) As streaming media becomes more ubiquitous, entertainment conglomerates have come to realize that animated content has to play a large role in what gets distributed because kids and adults both watch ... and kids in particular are a highly desirable market because they continue viewing habits with brands that plant their flag early (when children are 3-7).
Add On: And now the trades have noted this:
Disney stock rose 4.4% Thursday, setting a record high closing price of $141.74, after a Wall Street analyst boosted his price target for the company on increased optimism about the company’s streaming prospects.
Benjamin Swinburne of Morgan Stanley, in a note to clients, said he is now forecasting that Disney will reach more than 130 million global subscribers by 2024 across its three streaming services, Disney+, ESPN+ and Hulu. The analyst sees Disney+, which launches in November, accounting for 70 million of the total. ...
Animation, of course, is a large part of why Disney's future streaming business is supposed to be (per analysts) to potent ... and so profitable.
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