Thomson Digital Media Solutions (DMS) senior executive V-P Lanny
Raimondo was quoted in an official release saying, "We are committed
to serving the needs of our growing customer base. The Australasian
market will continue to expand over the next decade and we will
respond to those opportunities by providing Technicolor's world
Raimondo explained, "Cinecolour has a strong management team,
with exceptional engineers, and highly-skilled personnel - all of
whom will be transitioning with the company. Cinecolour also has
a great reputation with customers and they are an excellent fit
within our overall long-term plans."
Thomson's strategic objectives for its content and network division
are to expand its client base by broadening its service offering
and increasing its geographical coverage globally. Establishing
a platform for future growth in the Australasian market is a critical
step towards this strategic goal, the release adds.
The Australasian market is expected to be a prime area of growth
in laboratory and post-production services over the next decade.
According to the Motion Picture Association of America (MPAA) 40
per cent of the international theatrical market comes from the Asian-Pacific
region of the world. This amounts to around $3.86 billion in 2002.
The total international box office amounted to US $9.64 billion.
From 2001 to 2002, the International box-office grew by approximately
US $1.5 billion.
The release says, last year, the total output from the Asian market
reached 532.9 million feet of film processed from the top seven
producing countries - Thailand, Japan, South Korea, Hong Kong, The
Philippines, Malaysia, and Taiwan. In Thailand alone, production
accounted for 42 per cent of this work, followed by Japanese production
at 28 per cent.