Family entertainment company Rainbow celebrated its 20th birthday this year at MIPJunior and MIPCOM, taking place now in Cannes, France.

To mark the event, a gala dinner was held on Sunday evening at the Grand Hotel in Cannes.

The studio was founded in 1994 by Iginio Straffi, president and chief executive officer of Rainbow, and now boasts 10 subsidiary companies that deal with a wide range of productions, from TV and movies, to toys and Internet, as well as a number of multimedia products.

Rainbow now represents one of the largest and most complete animation studios in the world and is the only fully integrated production company in Italy.

“Twenty years ago we started with nothing but today have built a magical international reality–a content powerhouse with a worldwide reach. Our story is a dream come true, that has only been made possible by our determination never to give up and to always triumph over adversity,” says Straffi. “It was an absolute privilege to celebrate this milestone with our friends and partners from the licensing and broadcasting sectors, so many of whom have helped us on our journey.”

More projects are on the horizon for Rainbow including working with M4E as joint licensors for "Mia and me," a seventh season of  “Winx Club,” as well as two brand new properties Royal Academy and My American Friend.