BEHIND THE CASE // Triggerfish Animation Studios
Case writer Craig Lowman reflects on the winner of the 2020 Emerald/AABS Case Competition
“Triggerfish Animation Studios” is one of the more unique cases in the CWC case collection. Centred on the Cape Town-based film studio Triggerfish, this technical case delves deep into the financing models for commercial films and asks students to conduct a detailed analysis for the finance of an upcoming feature.
Since 1996, Triggerfish has excelled in producing visually impressive films and made a name for itself with films and television series that feature African stories, landscapes, and cultures. Films like Khumba and Adventures in Zambezia put them on the map and today, their work is available on major international streaming platforms, including Netflix and Disney+.
The case tracks the real story of Triggerfish's challenge to secure private funding for its forthcoming feature Seal Team. At the same time, the studio is contending with the rise of streaming services and must determine how this will impact return on investment for films going forward.
The Triggerfish case is the product of graduate research by Craig Lowman, GSB MBA class of 2020, and was co-written with his research advisors Professor Mikael Samuelsson and Professor Emeritus Geoff Bick in 2020. In the years since the case was published and won the 2020 Emerald/AABS Case Competition, Triggerfish has won a number of awards. Most recently, it was honoured in the Best International Series category at the AfroAnimation Summit's FRWD awards for its series "Kizazi Moto: Generation Fire", "Kiya & the Kimoja Heroes", and "Supa Team 4".
Now, Lowman reflects on what it was like to produce a teaching case about "Africa's leading animation studio". You can get the case from Emerald.
Working on the Triggerfish case research was a fascinating journey into the world of film financing from a South African and global perspective. It was refreshing to explore CEO Stuart Forrest's vision for independent funding and to analyse the impact of streaming platforms like Netflix and Disney+ on the industry. Delving into the "recoupment waterfall" and understanding investor perspectives added an exciting twist to the project, making it a truly engaging experience.
Craig Lowman
