Hasbro Inc. announced a joint venture with Chinese toy and entertainment company Guangdong Alpha Animation & Culture Co. to co-develop toys and games for China and other global markets.
"This long-term, strategic partnership will marry Hasbro's global capabilities in both merchandise and television programming with Alpha Animation's expertise and reach in entertainment, including television programming and toy distribution within China," Hasbro Chief Operating Officer David Hargreaves said. "Through our collaboration, we are able to re-imagine these brands from start to finish for both Chinese and global consumers." ...
Hasbro set up an animation studio in Burbank four years ago. The plan was (is) to use animation to sell toys. There have been hiccups along the way, but the company is still in the game, trimming costs wherever it can.
China is another way to trim costs, but it's not only Hasbro:
DreamWorks Animation will co-produce Kung Fu Panda 3, set to be released in 2016, in China with its local venture partners China Media Capital, Shanghai Media Group and Shanghai Alliance Investment, the companies announced this summer. They will invest more than 20 billion yuan ($3.1 billion) to build an animation studio and an entertainment complex called the Dream Center. The studio itself will get a $350 million investment and hire about 800 people in the coming years, the companies had said. ...
How well these corporate ventures pan out, remains to be seen. How they'll impact production inside the U.S. of A. is also a question mark. And (of course), it's not only animation.
Visual effects company Rhythm and Hues is chasing dollars to expand overseas.
Sort of a trend, isn't it?