US Film Company Now in RPPosted March 19, 2008
A US-based film company announced it will soon establish its Philippine operations. Besides intending to take advantage of the country?s high-quality talent, the company?through its local unit?will also bring technical skills and proper strategies to the entertainment industry, which may provide alternative investment opportunities for local entrepreneurs.
Radiant ERA Holdings LLC, which has diverse investments, said its local unit, to be subsumed under Radiant Studios, will be involved in both live action production and an animation studio to serve its growing number of clients.
In a statement, Jovie Saddul, chief operating officer of Radiant ERA and concurrent managing director of Radiant Studios, said the company will likely invest up to $50 million over the next five years in the local industry.
"There is no doubt about the talent found here in the Philippines. Being from the industry and having a 17-year track record, I've seen the possibilities of what kind of quality that can be produced locally. Through Radiant Studios, we want to bring the Filipino talent a couple of steps closer to the global marketplace because I believe in the talent and the potential. It just needs to be honed in the right way," he said.
According to Saddul, it may initially allow private investors and film and entertainment enthusiasts to invest in its business.
"This, of course, is dependent on the size of the projects that we will be embarking on," the film executive said.
Saddul also disclosed that the company's first project, funded by a less than $5-million production budget, will be a romantic-comedy film starring local and Hollywood actors, set for local theatrical release sometime in June or July this year.
Glow Animation, a subsidiary which intends to be Asia-Pacific's best 3D animation facility, is also preparing for an animated feature for worldwide release in 2009.
Source: businessmirror.com, Feb 20, 2008
by Honey M. Reyes