Local films sold for RM 159 mil

Local films sold for RM 159 mil

Communications and Multimedia Minister Datuk Seri Ahmad Shabery Cheek.

11 Oct – The 3D animated film "Hugo" that is not Martin Scorsese's critically acclaimed "Hugo", is one of 13 deals signed between Malaysian content providers and international partners at MIPCOM 2013, the world's biggest market for content across various platforms. The film alone is estimated to have gone for USD 10 million.

The event was attended by a record-breaking number of 60 Malaysian companies and deals worth more than USD 50 million (RM 159 million) were clenched. In addition to signing a deal for "Hugo", 12 titles, which included "BoBoi Boy", "Origanimals", "Super Squad", "Rimba Racer" and "Chuck Chicken", were screened at MIPCOM.

"The deals, which included joint ventures, co-production agreements and the sale of various products from the creative industry, were a testament of the world's acceptance of Malaysia's creative content and talents in the industry," said Communications and Multimedia Minister Datuk Seri Ahmad Shabery Cheek.

Hugo from the "Hugo" trolls franchise.

"The nation's creative content industry is also developing. In fact, we recorded a return of over RM 12 billion throughout last year. For example, KRU Studio's "Vikingdom" will be released in more than 10 countries," he added.

Another example was Malaysian singer Yuna, whose song has been featured in "Grand Theft Auto 5" and "Live Your Life" soundtrack sold more than 15 million copies.

"Hugo" is a joint venture between Malaysian company Anima Point, German partner Trixter, Anima Vitae from Findland and Einsten Film from Denmark. The film is based on the Danish "Hugo" trolls franchise. Production is set to start in 2014 and delivery by 2016.

MIPCOM, a TV and entertainment market which is held in the town of Cannes once every year in October is a content event for co-producing, buying, selling, financing and distributing entertainment content, as well as provides a forum for industry players to discover future trends and trade content rights on a global level.