Paramount Launching An Animation Division

Paramount Pictures is set to launch an in-house animation division with its first title slated for release in 2014.

Paramount Animation will focus on high quality animation with budgets per picture of up to $100 million with the aim of developing the “broadest range of family CGI animated films”. The studio will initially target one release per year.

The company’s first fully owned CGI animated property was this year’s “Rango” which remains one of the best reviewed wide releases (be it live-action or animated) of the year so far and has grossed over $240 million worldwide.