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U.S.-BASED film company announced it will soon establish
its Philippine operations. Besides intending to take
advantage of the country’s high-quality talent, the
company—through its local unit—will also bring technical
skills and proper strategies to the entertainment
industry, which may provide alternative investment
opportunities for local entrepreneurs.
Radiant
ERA Holdings LLC, which has diverse investments, said
its local unit, to be subsumed under Radiant Studios,
will be involved in both live action production and an
animation studio to serve its growing number of clients.
In a
statement, Jovie Saddul, chief operating officer of
Radiant ERA and concurrent managing director of Radiant
Studios, said the company will likely invest up to $50
million over the next five years in the local industry.
“There
is no doubt about the talent found here in the
Philippines. Being from the industry and having a
17-year track record, I’ve seen the possibilities of
what kind of quality that can be produced locally.
Through Radiant Studios, we want to bring the Filipino
talent a couple of steps closer to the global
marketplace because I believe in the talent and the
potential. It just needs to be honed in the right way,”
he said.
According to Saddul, it may initially allow private
investors and film and entertainment enthusiasts to
invest in its business.
“This,
of course, is dependent on the size of the projects that
we will be embarking on,” the film executive said.
Saddul
also disclosed that the company’s first project, funded
by a less than $5-million production budget, will be a
romantic-comedy film starring local and Hollywood
actors, set for local theatrical release sometime in
June or July this year.
Glow
Animation, a subsidiary which intends to be
Asia-Pacific’s best 3D animation facility, is also
preparing for an animated feature for worldwide release
in 2009. |
