Animated fight: the Philippines is trying to reclaim its title as the "animation capital of the world". But it's a long road.(animation special: analysis)(Company Profile)

Philippine animation companies, boosted by renewed government push for animation to be among the growth drivers of the country's IT services, are positioning themselves to regain a big chunk of the lucrative global animation business.

In 2001, Philippine animation revenues reached an unprecedented US$21 million. This year, revenues are expected to hit US$40 million. The current global animation market is estimated to be worth US$50 billion.

With an average annual growth of 30 per cent projected for the next three years, Philippine animators are perhaps justifiably bullish.

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