Indian animation producer/distributor/licensor DQ Entertainment has reorganized its French sister company Method Animation, in which it holds a 20% equity stake. Method has joined with Onyx Films and Chapter 2 to create a new holding company for the three French subsidiaries, On Entertainment. The triad’s combined production portfolios and title libraries give On Ent. group a cumulative revenue of 34 million euros (approx. $46.1m USD) and an operating profit of 5.2 million euros ($7m USD). DQ will continue to hold its 20% stake in Method.
On Entertainment is predicting rapid growth over the net five years, and has enacted a boost of capital to increase liquidity for the group and fund future products–10 million euros ($13.5m USD) from Canadian investment fun Ohana Capital, Lauren Dassault’s LDRP, and French rights broker/multi-channel owner AB Group. AB will provide minimum guarantees for future TV series, while Ohana will bring its expertise in licensing & merchandising activities.
DQ and Method have partnered on numerous animated projects including Le Petit Prince, Peter Pan, Le Petit Nicolas and Iron Man. Upcoming projects from the newly formed On Ent. include a feature adaptation of Le Petit Prince directed by Mark Osborne (Kung Fu Panda), set for release in the latter half of 2015 and boasting a 57 million euro ($77.3m USD) budget as well as the live-action feature Paradise Lost, based on the life of Pablo Escobar and starring Benicio Del Toro.
