|
MUMBAI:
Setting the road map for its growth in India, Turner International,
a unit of Time Warner Inc, said on Thursday it will make animation
films and launch an English channel in the country.
Turner
will initially make two animation films a year with the first
one releasing in 2009. It will also launch a Hollywood movies
and series' channel with group company Warner Bros in the
fourth quarter of this year, said Turner Broadcasting System
in Asia Pacific president Steve Marcopoto.
"These
initiatives will further bolster our considerable presence
in an exciting market that is fast becoming our largest in
the region," Marcopoto added.
India
contributes 30 per cent of Turner's revenues in Asia Pacific
and will overtake Japan this year to become its largest revenue
market in the region, said Marcopoto. International business
makes up 20 per cent of Turner's revenues and is set to go
further up as the US market is posting relatively slower growth.
Turner's
revenues in India mainly come from kids television (Cartoon
Network and Pogo) and English movie channel HBO. It also broadcasts
CNN and has a 26 per cent stake in a distribution company
where Zee holds the remaining 74 per cent.
Turner
will pump in multi-million dollars to establish a production
unit which will make animated films for theatrical release
and live action television series. The company will seek local
production and development partners.
"We
see ample opportunity in the market which is driven by the
demographics of a young audience and the bullish growth of
multiplexes. The animated output in India is very less now,"
said Marcopoto.
Turner,
which has entered into a 50:50 joint venture with the Alva
Brothers (founder-promoters of production house Miditech),
will launch the Hindi general entertainment channel in the
fourth quarter of the current year.
"We will thus have two new channels by the end of the
year. India is one of the highest priority markets for us
worldwide and the highest priority market in Asia," said
Marcopoto.
Turner
has also taken a 30 per cent stake in Miditech.
|
