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Monday, January 2, 2012

NEWS | Rhythm & Hues Studios to invest in Taiwan

NEWS, Rhythm & Hues, Studios, invest, Taiwan, wallpaper, poster, logo, vfx
Rhythm & Hues Studios (R&H), a US-based visual effects studio serving movie studios in Hollywood, on December 30 signed a letter of intent with Taiwan's Ministry of Economic Affairs (MOEA) to establish an R&H VFX (visual effects) Studio, a Cloud Animation Visual Effects (CAVE) center and 101 Film Fund in Taiwan, with total investment of about NT$6 billion (US$198.7 million), according to MOEA.

R&H VFX Studio will be set up in Kaohsiung, southern Taiwan, while CAVE center will be established on a joint venture basis with Taiwan-based Quanta Computer and Chunghwa Telecom (CHT), with Quanta to be responsible for providing servers and storage equipment and CHT communication infrastructure and applications.

R&H VFX Studio and CAVE center will generate 300 jobs and cultivate at least 1,000 Hollywood-level visual effects artists in three years, MOEA indicated.

R&H will apply for investment by Taiwan's National Development Fund in 101 Film Fund, which is aimed to channel Taiwan-based investment in joint-venture production of 10 movies in Hollywood in six years, MOEA said.

R&H's investment in Taiwan will bring visual effects know-how to upgrade Taiwan's animation technology and help Taiwan's information technology and telecommunication industries increase added value of cloud computing applications, MOEA indicated.

Taiwan's total production value of digital content increased from NT$153.7 billion in 2002 to NT$522.5 billion in 2012, at a compound annual growth rate of 16.53%, MOEA noted.

Source | digitimes