Source: Business Update Live
Reports specify how streaming giant Netflix Inc is planning to take over Animal Logic, the animation studios which made The Lego Movie. On July 19, the OTT platform made this announcement regarding the purchasing of the studio which made movie like Happy Feet, along with earnings of this year’s second quarter. The studios are one behind all the instalments of the Lego series, comprising both The Lego Ninjago and Batman Movie.
In this shareholder letter for the particular quarter, the company went ahead to note the announcement. This week, they mentioned their announcement of taking over Animal Logic, the thriving animation studio They spoke of the 800 individuals situated in Canada and Sydney, Australia, that would aid them in the acceleration of developing Netflix’s animation productions abilities. Further, they specified how this would reinforce their goals to making one ‘world class animation studio.’
A press release regarding the take over detailed how the two bodies have already embarked on a partnership to make movies. Firstly, the movie ‘The Magicians Elephant’ is scheduled for a release next year. Along with it, ‘The Shrinking of Treehorn,’ which is the first animated movie of Ron Howard. Expectantly, the complete take over is set to conclude later in 2022.
The OTT platform has gone on building out its programming on animation, which includes a series it spoke of recently. This is one that is based on the famous card game ‘Exploding Kittens,’ which is scheduled for a release in 2023. Various reports listed how the streaming giant went on to cut the jobs of about 70 part time employees, mainly in its animation studio, additionally dropping certain animated movies and shows.
Animal Logic on the acquisition:
The co founder and chief executive of the studios, Zareh Nalbandian gave a statement on the new announcement. He stated how this is the ‘perfect’ new venture for the studios following the thirty years it has spent making good content with notable individuals.
Further, he stated how their ‘values and aspiration’ is perfectly in sync with that of the streaming giant. This is when it comes to collaborating with distinct makers of content, coming with stories that new and ‘engaging’ for viewers all around the globe. He added how both their accumulative exposure and capabilities would give rise to opportunities for every team on the front, going on to empowering a ‘new level’ of innovation in the field of animation.
