MUMBAI, INDIA - Zee Entertainment Enterprises Ltd., is making a strategic investment in visual effects and animation studio, Phantom Digital Effects Ltd (https://phantommediagroup.com). Phantom has global presence in key markets, including the US and UK. Its studios include Milk Visual Effects, Tippett Studio, Lola and Spectre Post. The goal of the deal is to enhance Zee's presence in the animation, visual effects, gaming and comics (AVGC) segment, which it sees as a high-potential business.
The board of Zee considered and approved the investment after an evaluation of the synergies, further enabling the company to significantly enhance its content creation capabilities across platforms and genres, in order to craft more immersive and engaging experiences that consumers across the globe can enjoy. In line with its growth ambitions for the future, Zee is taking consistent effort to deeply embed its omni-channel strategic approach across the business.
Zee has a history of creating robust content IPs. As part of the partnership, Zee will leverage PhantomFX’s global experience, proprietary workflows and AI-integrated production capabilities to enhance its content ecosystem. The partnership will also enable Zee to access to production efficiencies across animation and VFX-led projects, and to build high-impact content properties across premium OTT originals, animated kids content, gaming & interactive formats, mythology and fantasy genres. Zee and PhantomFX will also jointly develop original IPs for OTT, gaming and licensing.
“At ‘Z’, we have always stayed ahead of the curve by enhancing our capabilities and leveraging strengths to engage purposefully with consumers across the globe," explains Punit Goenka, CEO of Zee Entertainment Enterprises Ltd. "The strategic investment in PhantomFX marks a firm step forward in our ambition to build scale and enhance innovation depth. PhantomFX’s global expertise in high- end animation and VFX perfectly complements our aspiration to create immersive and more engaging content IPs that travel across geographies and formats. We will continue to build future-ready capabilities that broaden our creative canvas and technological prowess to lead the next phase of growth in the entertainment ecosystem.”
Elaborating further on the strategic rationale behind the investment in PhantomFX, Mukund Galgali, deputy CEO and CFO, adds, “The investment in PhantomFX enables us to unlock significant operational value. PhantomFX’s proven capabilities in animation and post production, coupled with our legacy in storytelling and distribution strength, will empower ‘Z’ with a steady, creative bank of content and robust abilities to enhance visual excellence across screens."
Bejoy Arputharaj, founder and CEO of Phantom Digital Effects Ltd., says the company "is delighted to collaborate with a leading content powerhouse like ‘Z’. I am incredibly excited for this long-term strategic investment, designed to preserve our operational independence while also collectively enhancing our capabilities - backed by world- lass animation and VFX and AI, technology-powered workflows, sharp execution and global craftsmanship. Our robust portfolio of studios will help ‘Z’ deliver creative scale and strong IP assets across animation, gaming, mythology, fantasy and immersive formats. With this investment, we aim to accelerate our ambition to expand PMG’s footprint in the global content value chain.”
The partnership is non-exclusive and collaborative in nature, enabling PhantomFX to maintain management continuity and serve its global client base across studios, broadcasters and streaming platforms, while expanding its capabilities and market reach.