JAKKS Pacific (JAKK) Announces Launch of Studio JP Business Unit
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Leading U.S. toy and consumer products manufacturer JAKKS Pacific, Inc. (NASDAQ: JAKK) announced the launch of a newly formed business unit, Studio JP, a division dedicated to creating and developing original, multiplatform computer-generated animated content, in a joint venture with China’s Meisheng Cultural & Creative Corp.’s animation studio Rising Anime. Studio JP will drive the creative storytelling process with JAKKS and Meisheng jointly owning the content. JAKKS will have merchandising rights for kids’ consumer products in all markets except China, which Meisheng will spearhead through the companies’ existing distribution joint venture, JAKKS Meisheng Trading (Shanghai) Ltd.
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“We have best-in-class creative partners with Meisheng, a recognized name in Chinese entertainment, and we are thrilled to expand our partnership in this genre. Developing original content is essential for us to further build and grow JAKKS’ portfolio of owned properties in new and existing categories,” said Stephen Berman, Chairman and CEO of JAKKS.
Studio JP will introduce high-quality, kid-friendly, computer-generated animated content including new short-form series and original shows, while exploring JAKKS’ library of intellectual properties to re-launch brands with compelling stories for today’s kids. Studio JP’s mission is to create, identify and foster original content to support JAKKS’ proprietary brands with compelling and engaging narratives and characters. Studio JP will be responsible for script development, story boards, character and visual development, production and distribution.
Berman stated, “We know kids today expect content in all forms of entertainment across many media platforms. At the same time, the entertainment landscape has changed dramatically in the last few years with new distribution models. These trends have created new opportunities for JAKKS to deliver content to kids where they want it and when they want it.”
“We have great expectations for our Studio JP joint venture,” said Zhao Xiaoqiang, President of Meisheng Culture & Creative Corp. “We have created a leading entertainment industry ecosystem that is cross-platform and cross-border. This new joint venture will generate all new original rich-content that is adaptable to all current and future platforms. Through Meisheng’s established industry channels, this high-quality content can be fully distributed in all media.”
For a look at Studio JP click here.
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