US-based Radiant Era Holdings Inc. has set up shop in the Philippines to tap high quality talents in the local entertainment industry.
The local entity, Radiant Studios, will be involved in both live action production and animation to service its growing clientele.
Radiant Studios is planning to produce eight to 10 movies in the next five to six years with a production budget of an average of $5 million each or a total of $40 million to $50 million.
Radiant Era Holdings chief operating officer and concurrent managing director of Radiant Studios Jovie Saddul said the group is hoping to uplift the local entertainment industry through the practice of international standards of film production to allow them to be globally competitive.
“There is no doubt about the talent found here in the Philippines. Being from the industry and having a 17-year track record, I’ve seen the possibilities of what kind of quality that can be produced locally. Through Radiant Studios, we want to bring the Filipino talent a couple of steps closer to the global market place because I believe in the talent and the potential. It just needs to be honed in the right way,” Saddul said.
Radiant Studios’ first venture is a romantic comedy that will feature both local talents as well as Hollywood actors. The film will be released either in June or July this year.
Headquartered in Los Angeles, California. Radiant Era Holdings is a fund with interests in a diverse field of investments including film entertainment. Among its assets are its live action production arm, Torch Media, and Glow Animation, a studio being designed as the premier in 3D animation facility in the Asia Pacific region.