In a power play by streaming giant Netflix, it has acquired animation studio Animal Logic, the studio responsible for The LEGO Movie.
The Australian animation company opened its studios in 1991, and worked on some of the biggest animated films to come out of the great southern land including George Miller’s Happy Feet and the well-received LEGO movies. Their grasp goes beyond animated features, with them also working on Captain Marvel, Planet of the Apes, The Great Gatsby, and Sucker Punch.
Netflix closed the deal for an estimated $84.8 billion (AU$123 billion), adding to its recent array of acquisitions in the field of animation and visual effects including purchasing Scanline and the Roald Dahl Story Company in recent years. Animal Logic’s acquisition is a coup for Netflix, with the company’s vice president of operations Amy Reinhard hyping up the deal, describing it as a “commitment to building a world-class animation studio”.
“Netflix has been investing in animation over the past few years and this furthers our commitment to building a world-class animation studio, Animal Logic is a leading animation studio with innovative technology that will strengthen our existing business and increase our long-term capacity in the animation space, so that we can better entertain our members around the world.”
Animal Logic’s co-founder and CEO Zareh Nalbandian welcomed the deal, and described it as the “perfect next chapter” for the 31 year-old studio.
“After 30 years of producing great work with great people, this is the perfect next chapter for Animal Logic. Our values and aspirations could not be more aligned with Netflix, in working with diverse content makers, producing innovative and engaging stories for audiences around the world. Our collective experience and talent will open new doors for all our teams and will empower a new level of creativity in animation.”
The acquisition will come as good news for Netflix, who have been shedding subscribers after recent own goals around advertising on the service. They may continue to produce hits like Stranger Things and Resident Evil, but audiences are shifting to other options.
Published: Jul 19, 2022 11:11 pm