Japan’s animation content development will definitely see an influx of new ideas and creative juices with a 100 million yen investment by Gree and Gyao, a subsidiary of Yahoo! Japan.
Japanese social gaming giant Gree and broadband video distribution company Gyao today announced, that they will be establishing a fund of 100 million yen (US$ 1.09 million) to invest in animation content development, reports SD Japan. Gyao is also a subsidiary of Yahoo! Japan.
The two companies will split ownership of the joint venture 50/50, which will be called Future Content Partners.
These content from the fund’s portfolio companies will be distributed to Yahoo! Japan’s premium service subscribers in the form of broadband video streaming, social gaming and others. The three – Gyao, Gree and Yahoo! Japan – have also decided to set up an information portal, which puts focus on games, video titles and e-comic books.
Just last week, Gree and Yahoo! Japan announced that they will be collaborating to develop social games for smartphones through an initiative termed “GxYz.”
The group dedicated 200 million yen (US$ 2.17 million) in capital to that venture, and has aimed to build on Yahoo! Japan’s popular web portal directing traffic to social games on Gree, using Yahoo! Wallet for content payment.
In a recent survey, it is reported that the Japanese animation business is worth 219.7 billion yen (US$ 2.38 bilion), with revenues rising in the past three years.
Image Credit: Venture Beat
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