As the demand for animation is going so high, most of the entertainment companies right now are finalizing the post-production phase at the animation company. Now, many OTT platforms have some sort of affinity towards animated heavy content. Right now most of the companies are interested in reducing the production cost and they are looking for producing more quality content than the number of content.
Right now Asian film industry is creating a huge increment in production costs. As per recent data, 5 to 10% of production cost is spent on special effects. So far animation industry is estimated to be $52 billion in 2018 and according to the research market, 23% growth can be expected.
When it comes to the production cost of an animation movie it ranges anywhere between $3 million to $60 million. As there is a sudden rise in OTT and digital platforms, a sharp growth was seen and you can see sharp streaming video consumption.
Take a look at the data
You can therefore see the traditional form of content viewership is giving away a sharp increase in streaming. Moreover, the total value of the global animation industry was $ 259 billion in 2018. Likewise, it is projected to reach $270 billion in 2020. In most cases, this segment in the industry is growing at the rate of 2 percent. Thus it will be ideal to understand that most of the in-house work is outsourced.
As the market size in Asia is increasing daily, foreign companies are investing more rapidly. The market size in India is huge and production cost is quite low. Most foreign companies see huge demand and profitable returns if they invest in the Asian market.
Have seen rapid growth
Thus there was a rapid growth in the animation industry in the last 5 years. As per the recent data, the animation industry is growing up to 20 percent. Animation is a full-fledged industry and it is no longer sideline with other industries.
As per the data, the number of small-time studios has grown up and become now some of the larger brands. Moreover, new studios are gradually coming up and in future new studios will be introduced. In addition, all the old studios will be expanded in the future. Likewise, it will increase the number of employment generations.
When it comes to producing original content, animation companies are at the top of the list. Whether it is TV or OTT, each and every content has been liked by the people. If you consider the current market scenario where investment in animation can provide you with a profitable return.
Keep a few things in mind
You should keep in mind a few things and analyze them before you start your entrepreneur journey. Whenever you are running an animation company it is crucial that you keep a plan for your expenses and plan your finances wisely. However, do not forget to keep in mind the basic needs of small business owners.
It will be ideal for people to know more about the animation industry. Moreover, animation is one of the new emerging industries. In addition, people can watch 9anime com to watch new content. Finally, it is a cost-effective and reputed website.