India's Animation sector is witnessing a major boom. A new outsourcing fever has gripped India. Global entertainment majors like Walt Disney, Imax, Warner Brothers and Sony are signing up huge contracts with Indian animation companies.
Performance of the Industry in 2007
The entertainment segment of the Indian animation Industry in 2007 stands at an estimated Rs. 13 billion. The industry grew by 24% from the previous year 2006 when the recorded revenues were Rs. 10.5 billion.
The Gaming industry, on the other hand, grew at a higher rate of 32% over the previous year and stands at an estimated Rs. 2.7 billion in 2007, up from Rs. 2.05 billion in 2006.
The global animation Industry is offering a major chunk of business in animation in India to cut cost and increase their profits. Pioneered by the Indian advertising Industry, animation in India has been adding creativity to ad-commercials and special effects to bollywood films. The Indian animation market is growing and serves the content for both domestic and International clients.
Work is pouring in from places like the United States, Europe and Asia in the form of outsourced projects and co-production deals. Companies are outsourcing animation to India for Animated TV. Serials, Films, Visual effects, commercials, computer games and e- Content development.