LazyTown stands stronger than ever. The company's relatives are big-hearted and seem to have every reason to be optimistic about the business in the coming years. "We have just become part of the Turner group, which in turn is part of Time Warner. Those agreements were finalized late 2011, and the purpose, among other things, to bring on board an owner who has the right distribution channels," say...
The creator of LazyTown, the globally successful children’s television show which promotes a healthy lifestyle, is seeking new investors as he plans to expand the brand into restaurants and film.
Magnus Scheving, the former champion gymnast who created the show and also stars as its main character Sportacus, told The Daily Telegraph that he is keen to launch Lazytown-branded family restaurants in major cities such as London, New York and Tokyo. He believes there is a market for restaurants which offer healthy food and a fun environment for children. Each restaurant, he says, is likely to cost at least $3.5m (£2.3m) to create.
Following the success of television show, which airs in 120 countries and is the most expensive children’s television programme ever made, Mr Scheving has been in talks with film studios including Sony Pictures and Warner Bros about creating an action film called Sportacus. Mr Scheving estimates that the film will cost about $25m to make.
He has been travelling around the world in recent months talking to potential investors, LazyTown’s expansion comes as a large number of Icelandic companies have suffered their most disastrous year on record, as the country’s banking system was seized by the government and their currency had to be suspended. LazyTown’s first ever backer was Jon Asgeir Johannesson, a major investor in the first bank to collapse and the founder and chairman of retail giant Baugur.
The children’s programme, which is the probably biggest hit to emerge from the country since Bjork, has had numerous calls from local bankers in the past few months wanting jobs behind the scenes following the recent financial crisis.
LazyTown has created revenue streams outside the original television show, such as a travelling live show, which plays in countries around the world. “There are 50 other Sportacusses,” says Mr Scheving. LazyTown DVDs and merchandise are also popular with children.