French Studio TeamTO Has Collapsed, Assets Being Sold At Fire-Sale Prices
TeamTO, a major French animation studio, has collapsed. The company entered insolvency last month, and multiple companies have put in offers to buy its assets.
The company, founded 19 years ago, was a well established producer whose series included Netflix’s Peabody-winning City of Ghosts, PJ Masks, and Elena of Avalor.
Only two years ago, the company opened a new custom-designed energy-efficient studio in Paris that could produce animation with a much lower carbon footprint than other studios. According to legal filings in France, the new studio was in part responsible for the company’s financial collapse. Other reasons for TeamTO’s rapid demise included a reduction in work from international streamers, as well as delays on two major projects that were pushed from 2024 to 2025.
Currently, three companies are vying to pick up TeamTO’s assets for pennies on the dollar. The Commercial Court of Paris will examine the offers on October 30 and make a decision at that time. The offers are as follows:
- Transperfect, a major translation and localization services firm with thousands of employees worldwide, has offered USD$431,000, as well as $2 million in additional capital financing.
- Film and distribution investment firm Gabriel Finance has offered around USD$570,000 for the company. According to Kidscreen, “If successful, its plan is to focus TeamTO exclusively on series production (dropping games, digital and R&D) and limit its output to two shows a year.” Additionally, it is forecasting that TeamTO’s catalogue sales of its own shows, like Mighty Mike, could generate over $300K in annual revenue.
- French conglomerate Hildegarde, which owns a variety of animation companies including Les Armateurs, Folimage, and distributor Gebeka Films, has offered USD$10,000.
