This paper studies the animation industry by exploring European animation festivals panoramically from the perspective of aesthetic economy and space economy. It is found that semiotic products with great semiotic meaning are not a kind of transcendental presentation but daily reality in the aesthetic economy and space economy era. The animation industry, which is focused on cultural and creative content producing, is a rising industry in which the animation festival is not only the exhibition of traditional commodities but also a creative arena of meaning produce. The restructuring of place for European animation festivals is followed the basic requirement of aesthetic economy and space economy, since the festivals add new semiotic meaning and cultural elements to the original places. Furthermore, how to create more semiotic meaning of different festivals and restructuring myth of places are what we can learn from cases in European.