China UK Animation Company (CU Animation) has signed an investment deal with UK-based animation studio Blue Zoo with a total of £72m of funding being released.
CU Animation, part of Zhong Ze Culture Investment Group, will initially unlock £30m to accelerate the delivery of Blue Zoo productions, while facilitating wider access to the Asian and international markets.
This will be followed by a tranche of co-production finance – bringing the total to £72m – for the development of Blue Zoo’s existing slate of IP projects.
The agreement takes the form of a joint venture called Lanzu and will support the development and production of at least six new projects, including an animated feature film, over the next five years, with the first project scheduled to go into production later this year.
Gina Fegan, director of culture at CU Animation and Zhong Ze Culture Investment Holdings Ltd, said of the news: “Blue Zoo stands out in terms of creativity, company ethos and commercial acumen. We are delighted to partner with them to enable and accelerate IP development and content production, supporting both Lanzu and Blue Zoo’s international growth.”
Image: Blue Zoo.