Gary Wang, who is the man responsible behind the massively popular online video venture Tudou, has just unveiled a new Beijing-based animation studio that will focus on domestic feature projects. Wang already sold his online venture to Youku, and told the Wall Street Journal that he is in the process of hiring LA and San Francisco based directors, storyboard artists, and senior animators for his new studio.
“I get the impression that everyone there is excited about the Chinese market,” said Wang, who was born in China but moved to New York in 1993 to attend high school and then to study computer science at John Hopkins University. He told the paper that he has already secured hundreds of thousands of dollars from international investors for his latest project and that the output will be mainly aimed at domestic audiences.
Wang’s studio will be a new domestic entry in an industry dominated by Hollywood companies, such as DreamWorks and Pixar. DreamWorks in particular will be a tough competitor for Wang’s studio, as DreamWorks is already building a Shanghai-based studio called Oriental DreamWorks, which is a joint venture owned alongside China Media Capital, Shanghai Media Group and Shanghai Alliance Investment.