Though its not an earth shattering deal, the animation biz of the Indian sub-continent got a boost over the weekend with a new deal for New Zealand television. New Delhi-based Digikore Studios has signed a contract to produce a TV series and feature for Gtoyz Management Co. The Kiwi company is hoping to turn the characters of Kung Fu Millionaire, Pipsqks and Dodgy Dog into worldwide properties.
Under the terms of the deal, Digikore expects to generate $10 million in revenue, making it one of the biggest ventures to date for an Indian animation company. Gtoyz is investing $15 million in the series. Digikore is part of the Growel group of companies, and is in the process of seeking similar deals in the U.S., Europe and Australia.