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DUBLIN, Jan. 19, 2021 /PRNewswire/ -- The "European Animation & VFX: Strategies, Trends & Opportunities (2021-25)" report has been added to ResearchAndMarkets.com's offering. The European animation industry is growing fast and an increasing number of films produced in Europe have attracted global audiences and are distributed worldwide. The boom in European animation can be attributed to the world class animation training schools, funding schemes, government tax incentives, Europe-wide as well as global collaborations through co-productions and availability of world class talent. Europe produces about 40 animation films every year. About 15% of European movie admissions go into animation and one-fifth of admissions to animation films in Europe goes to European productions. However, the market is dominated by American films who garner about 70% of admissions. The trend is in favour of local European animation productions as far as TV animation series is concerned. There are over 300 children's channels in the EU as well as specific on-demand services for kids. Moreover, about 65% of animation content on European TV channels is produced locally. European animation productions targeted at television have achieved global success, however, in the case of movies, it is the major American studios that dominate the market. Film based content such as video or mobile games are on the upswing giving rise to new partnerships as well as new business and revenue models. Given the global economic crunch, producers need to diversify their sources of funding and explore sources such as co-productions, equity financing and other forms of loans. The demand for animation, VFX and video gaming has expanded with the increase in targeted broadcasting hours by cable and satellite TV, availability of low cost internet access, penetration of mobile devices along the growing popularity of streaming video. In addition, the demand for Animation and VFX content to power immersive experiences such as Augmented Reality and Virtual Reality is growing exponentially. The rapid advancement of technology has made animation, VFX & games available to the masses, and this industry has become one of the fastest growing segments in the global media and entertainment market. We are increasingly seeing more animation, VFX and games production taking place in a globally distributed mode. Production work is becoming global with countries as well as regions offering tax incentives, subsidies, financial support, regional low labor costs, etc. and companies are cutting costs by setting up facilities in such regions. Cloud computing is playing a key role in character rendering and modeling processes as cloud based rendering of animation films is more effective and efficient as it reduces the time and cost compared to traditional rendering. MARKET SIZE The market size of the European Animation & VFX industry was US$ 43.7 billion in 2020 Most of the segments in the animation industry are growing at a rate of 2% YoY The production cost per animation movie ranges anywhere between US$ 20 Million to US$ 300 Million The spend on special effects as a percent of production cost in Europe is about 20%-25% Key Topics Covered: Executive Summary 1. European Animation Industry 2. Market size of European Animation & VFX 3. Germany Animation & VFX 4. UK Animation & VFX 5. Italy Animation & VFX 6. France Animation & VFX 7. Spain Animation & VFX 8. Denmark Animation & VFX 9. Sweden Animation & VFX 10. Hungary Animation & VFX 11. Russia Animation & VFX 12. Norway Animation & VFX 13. Czech Animation & VFX 14. Slovakia Animation & VFX 15. Slovenia Animation & VFX 16. Turkey Animation & VFX 17. Poland Animation & VFX 18. Netherlands Animation & VFX 19. Finland Animation & VFX For more information about this report visit https://www.researchandmarkets.com/r/h6q8er Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Research and Markets Laura Wood, Senior Manager [emailprotected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 SOURCE Research and Markets Related Links http://www.researchandmarkets.com

Answer: European Animation & VFX Market Report 2021-2025 - Rapid Advancement of Technology has Made Snimation, VFX & Games Available to the Masses