The studio was founded by Richard Rich, who previously worked at Disney. The studio's first and most famous film was The Swan Princess, which was a box office bomb. After the animated remake The King and I was released in 1999 and The Trumpet of the Swan was released in 2001, due to bankruptcy and losses they were taken over by Crest Animation Studios (CEO: A. K. Madhavan), an Indian animation studio, to form RichCrest Animation Studios. Lions Gate has entered into a deal with RichCrest Animation Studios to make three 3D animated feature-length productions, the first of these, Alpha and Omega. Alpha and Omega is the third most well-known film of the studio in critical reception and the first in box office. The currently highest rated film of Crest Animations is its sequel Alpha and Omega 2: A Howl-iday Adventure, which holds a 5.6/10 score in IMDb.
In February 2007, it was renamed to its current name and it was announced that it is "expanding its business to become a full-service animation studio specializing in the development and production of CGI-animated properties for theatrical, television, home entertainment and interactive distribution".