Industry: Creative Industries
Project: Establishment of a 50-60 seat animation studio
In today’s extremely competitive market, a 30-minute animation feature costs between USD 200,000.00 - 400,000.00 to produce in the US while the same feature can be produced in India, at a cost of USD 70,000.00. Trinidad and Tobago has the potential to match this cost saving.
The local animation industry is at an embryonic stage and is dominated by the presence of one major studio and several smaller ones. Production is centered on advertisements for ad agencies, public service shorts for government ministries and renderings/flythroughs for the construction sector. On the education side, the University of Trinidad and Tobago (UTT) offers an under graduate degree in Digital Media Studies; Animation. UTT also offers a Certificate in Animation over 12 months. A matriculation path exists for students who wish to pursue the degree in animation after completion of the certificate programme. The UTT produces at least 50 graduates in 2D animation annually.
The bulk of the outsourcing occurs for 2D animation content with some amount of 3D content. The investment opportunity is to establish a 50-60 seat animation studio that can leverage huge cost advantage in relation to the North American market. The studio’s focus should be on 2D production work that would include: Modeling, Character Rigging, Voice Recording, Layout, Screenplay, Storyboarding, Visual Development, Lighting, Texturing, Composting, Sound Effects, Music Content, Repurposing and Digital Management.
Specific benefits to the investor include:
- Cost advantage: A 22 to 24 minute episode would cost between US$200,000 and US$250,000 in the US and Canada, and between US$250,000 and US$300,000 in Europe. However, in India, the production cost works out to be about US$60,000, and in Trinidad and Tobago approximately US$62,000 to US$65,000.
- Strong academic-government collaboration: Certificate, diploma and degree programmes at the University of Trinidad and Tobago, and Retraining programme of the Ministry of Tertiary Education and Skills Training in 2D animation
- Technological support for the industry: (Robust fibre and copper networks, wireless technologies, radio; Digital fibre optic backbone network (FOBN); Nationwide radio microwave terrestrial network; Next generation networks (NGN), characterized by the use of Internet Protocol (IP), Multi-Protocol Switching (MPLS) and Wave Division Multiplexing (WDM)
To find out more about this lucrative investment opportunity, please view the full brochure:
Investment Opportunity: Creative Industries