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Netflix to Acquire Indie Animation Studio Animal Logic to Boost Its Animation Production Capabilities

Netflix to Acquire Indie Animation Studio Animal Logic to Boost Its Animation Production Capabilities

Netflix to Acquire Indie Animation Studio Animal Logic to Boost Its Animation Production Capabilities

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Netflix plans to acquire Sydney-based Animal Logic, an animation studio that has worked on hits from Happy Feet to The Lego Movies, the companies said in a statement on Tuesday. The move will accelerate Netflix’s efforts to build end-to-end animation production capabilities, according to the statement. The streaming service has produced several animated titles, including Oscar-nominated movies Over the Moon and Klaus.

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“Netflix has invested in animation over the past few years and this reinforces our commitment to building a world-class animation studio,” Amy Reinhard, vice president of studio operations at Netflix, said in a statement.

The acquisition, which requires regulatory approvals, was announced just ahead of Netflix’s quarterly earnings report. Netflix said it expects the deal to close later this year.

On Tuesday, the streaming service avoided its own worst-case scenario of subscriber losses, posting a decline of nearly a million from April to June, and predicted it would return to customer growth over the course of the year. third trimester.

Terms were not disclosed.

As part of the deal, Animal Logic animators will form a global production studio with Netflix teams to work on some of the streaming service’s biggest titles, the statement said.

Led by CEO and co-founder Zareh Nalbandian, Animal Logic is headquartered in Sydney and operates a second studio in Vancouver. Current teams and management will remain in place and continue to work with other studios, the statement said.

Netflix and Animal Logic are already working on upcoming films The Shrinking of the Treehorns, directed by Ron Howard, and The Magician’s Elephant.

Netflix will continue to work with other animation studios, the statement said.

© Thomson Reuters 2022


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