ALTHOUGH still in its early stages, Trinidad and Tobago’s animation sector has generated over US$1 million in revenue in the past three years, deputy permanent secretary in the Ministry of Trade and Industry, Ava Mahabir-Dass, has said.
Mahabir-Dass made the statement as she delivered the feature address at the Anime Caribe Festival’s 2024 Media Launch on Wednesday.
She said, according to the 2024 Animation Global Market Report, the global animation market has been experiencing rapid growth, expanding from US$355.83 billion in 2023 to US$379.83 billion in 2024.
“By 2028 the Animation market is expected to further grow to an estimated US$499.57 billion at a growth rate of 7% due to advancements in technologies like virtual reality (VR) and augmented reality (AR) paving the way for further innovation. These indicators underscore the significant potential of animation 5 in income generation, employment creation and foreign exchange earnings from which Trinidad and Tobago can benefit,” she said.
Mahabir-Dass said to better capture these opportunities the Government has been building capacity to re-position Trinidad and Tobago as a premier destination for animation.
“While the sector is still nascent, it has generated over US$1 million in revenue over the past three years, with 75% of these opportunities being foreign-based. This demonstrates our ability to tap into the global market and highlights the potential for even greater growth,” she said.
“Locally, many exciting animation projects are currently in progress including the animated short Irie Island, which has garnered significant international attention and is valued at US$50,000. The pilot for PB & The Buck, pitched at last year’s festival, is now in production with the UK firm Big Thinkers, valued at US$200,000. Another notable project, Tobago Trek, won a pitch competition and received US$25,000 from the Caribbean Development Bank to advance to the pilot stage, seeking international investment. We’re also excited about The Making of a Baroness: The Floella Benjamin Story, which will have production elements in Trinidad and Tobago and is currently being discussed for distribution with Children’s BBC and Big Thinkers, in the UK,” Mahabir-Dass.
Mahabir-Dass lauded Animae Caribe Festival as the longest-running festival of its kind in Latin America and the Caribbean.
“Since its inception in 2001 the Festival has grown into an impressive platform for showcasing local, regional and international animation talent to buyers, agents and distributors,” she said.
She said capacity is also being ramped up locally with the establishment of the Animae Caribe House, as well as through collaborations between Animae Caribe, the University of Trinidad and Tobago and the Inter-American Development Bank (IDB) in establishing the Tamana Technology and Animation Production (TTAP) Factory which serves as an Animation Incubator to support our talented animators.
“Animae Caribe has evolved into a hub for facilitating collaborations across the Caribbean, fostering unity and artistic exchanges among animators from various countries including Cuba, France, Guyana, Martinique, Suriname, USA, UK and, of course, Trinidad and Tobago all of which will be represented at this year’s Festival featuring over 15 Animation films. This rich diversity is a testament of the Festival’s growing influence in bridging talent and creativity in the Animation sector at home and across the globe,” she said.