Look before you leap

November 18, 2010

This is from a local newspaper, reproduced online, an excerpt:

Since 2003, some 40 animation and visual effects companies have opened here. Among them: Lucasfilm’s Singapore arm, which is on an expansion spree as it gears up to work on its new animation movie slated for global release in 2013.

Now that the fairy dust has settled – thanks in part to the economic crisis last year – it may be possible to analyze who is entitled to dream big in animation.

In the last year, at least three home-grown firms with animation aspirations have had their hopes dashed due to cash-flow problems.

Two have folded, while while one – which spoke to the Sunday Times on condition of anonymity – is on the brink of bankruptcy.

No longer around are Big Communications and Mega Media – both 10-year-old media companies.

It sounds cynical but it’s true. Many countries are still reeling from the aftermath of the economic downturn and we’re no exception, especially since we have virtually no domestic market to speak of.


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