Original Article by of Bloomberg news - Nov 28, 2010 5:01 PM CT
Image courtesy of Animation Lab
Israeli investor Erel Margalit and his $830 million Jerusalem Venture Partners is the main investor in movie studio Animation Lab. Margalit says his country must ramp up their virtual offerings, including products from films and online games. He intends the new studio to rival Pixar.
David Simon, former head of DreamWorks Animation SKG Inc.’s television studio in Los Angeles, said the Animation Lab project isn’t unique.
“There are many animation companies in the U.S., Canada, the United Kingdom, Australia, China and Korea, who have attempted and fallen short of their goals,” he said. “The computer graphics film business is overcrowded, with too many new players competing with each other, not only for a finite fickle audience, but also with DreamWorks and Pixar.”