KOFIC Increases Budget for 3D Initiatives
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KOFIC has increased its support budget for 3D initiatives from last year's 850m Korean won (U.S $725,300) to 3.9bn ($3.4m) and announced a deal for 3D conversion with Korean company Stereopictures. The deal with Stereopictures will see the 3D conversion of Warner Brothers Cats & Dogs: The Revenge Of Kitty Galore, to be released in the U.S July 30. A live action comedy filmed using advanced puppetry and computer animation, the film tells the tale of a world where cats and dogs have to join forces to fight evil. This is Stereopictures's first project for Hollywood and they plan to do 6 to 8 more projects next year. In addition, KOFIC has signed an M.O.U (memorandum of understanding) with the company to develop new 3D technology and, in conjunction with the Korean Film Academy of Arts, churn out 7000 new 3D trained experts over a 4 year period.
With the movie industry scrambling to address falling revenues in the face of illegal downloading, 3D is again becoming a popular way to increase the movie going experience and the value of tickets. This announcement comes hot on the heels of James Cameron's Avatar whose success story can be in part attributed to its 3D and IMAX 3D sales.
David Oxenbridge
With the movie industry scrambling to address falling revenues in the face of illegal downloading, 3D is again becoming a popular way to increase the movie going experience and the value of tickets. This announcement comes hot on the heels of James Cameron's Avatar whose success story can be in part attributed to its 3D and IMAX 3D sales.
David Oxenbridge
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