Dated: 2 December 2004
The Media Development Authority (MDA) has signed a Memorandum of Understanding (MOU) with Peach Blossom Media today to collaborate on the production of seven animation projects over a three-year period, in a deal worth S$18 million which takes effect from 1 January 2005.
The MOU was signed at the Asia Media Festival by the MDA's Director of Industry Development, Mr Seto Lok Yin and the Chief Executive Officer of Peach Blossom Media, Mr Sung Lin Gun. It was witnessed by Dr Christopher Chia, the Chief Executive Officer of the MDA and Mr Quak Ser Khoon, the Chairman of W3 Infocomm Group, an investor of Peach Blossom Media.
Under the MOU, the MDA will co-invest with Peach Blossom Media and other international partners in suitable animation productions. These projects are expected to contribute positively to the growth of the local animation industry and create job opportunities for Singaporeans across the spectrum of pre-production, animation production and post-production work. The total production budget of the seven projects over the three-year period is estimated to be S$37 million. Both the MDA and Peach Blossom Media will co-invest S$18 million while the remaining amount will be raised from international partners.
The first project the MDA and Peach Blossom Media are jointly investing in as part of this MOU is Wild Animal Baby, a 26-episode series. It will be co-produced by Peach Blossom Media and South Korea's Sunwoo Entertainment, a listed, leading animation studio in South Korea. Sunwoo Entertainment is the producer of the hugely popular children's cartoon, the Rugrats, which is aired on Nickelodeon. Wild Animal Baby is based on a popular pre-school magazine by the respected non-profit organisation, National Wildlife Federation of the USA, who is also a co-producer on this project. The production cost for each episode is US$150,000 and it is expected to be completed in early 2006.
"Our partnership reinforces the MDA's effort to grow the Singapore animation industry. We want to encourage promising local animation studios to expand their production capability and content offerings for the international markets. Through this MOU, a strong pipeline of quality animation content will help fuel Peach Blossom Media's growth and create new job opportunities for our animators. We are delighted to work with Peach Blossom Media and international partners such as Korea's Sunwoo Entertainment who is co-producing the first project in our slate of seven animated projects under this MOU, said the MDA's Seto Lok Yin.
Peach Blossom CEO Sung Lin Gun said his company has a strong track record going into the partnership. Within a span of four years, we have created and produced several successful original properties. We are honoured and humbled by the MDA's support. Our mission is to create a world-class animation house that can create and produce great animation properties. This support from the MDA will help us achieve that.
Peach Blossom Media is a pioneer in the Singapore animation industry. Its Tomato Twins animated series is the first original Asian show to be broadcast internationally on major children's channel, Nickelodeon. Following the success of Tomato Twins, Peach Blossom Media also launched its second animated series, Tao Shu - The Warrior Boy, a co-production with the MDA, on Nickelodeon in November 2004.
The MOU is part of the MDA's Media 21 blueprint to develop Singapore into a vibrant global media city through promoting and raising the profile of "Made-by-Singapore" animation projects for the international market.
For more information, please contact:
Peach Blossom Media Pte Ltd
Ms Stephanie Hing
256 South Bridge Rd #02-01
Singapore (058805)
Tel: +65 6227 2829
Email: Stephanie@peachblossommedia.com
Fax: +65 6227 2396;
Website: www.peachblossommedia.com
Media Development Authority of Singapore
Ms Tan Poh Cheng
Assistant Director
Corporate and Marketing Communications
Communications Division
Email: TAN_Poh_Cheng@imda.gov.sg
Ms Sharanjit Kaur
Corporate and Marketing Communications Manager
Communications Division
Email: Sharanjit_Kaur@imda.gov.sg
Fax: +65 6336 4142 Website:
http://www.mda.gov.sg
About the Media Development Authority of Singapore
The Media Development Authority of Singapore (MDA) aims to develop Singapore into a global media city. Its Media 21 strategy seeks to create a vibrant environment for the industry and public via five key thrusts: establish Singapore as a media exchange;export 'Made-by-Singapore' content;internationalise local media companies;nurture local media talents and develop digital media.
About the Peach Blossom Media Pte Ltd
Peach Blossom Media is the pioneer in the local animation industry that was established in 2001. With their first series Tomato Twins, a 26-episode animation series that is the first original Asian show to be broadcast internationally on major kids channel, Nickelodeon, Peach Blossom Media established their reputation as Singapore?s premiere Content House. Tomato Twins was so well received it is now in the pre-production stages of it?s second season. Little Tao Shu, is a new 52-episode animation series produced entirely in Flash. The Series was launched successfully on Nickelodeon in Nov 2004. Peach Blossom is also currently in the throes of developing a slate of new programs for leading Japanese and American animation companies. Peach Blossom Media is invested by W3 Infocomm Group, whose partners include Singapore Technologies Group and Prime Partners.
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