Home
Entertainment
Entertainment News
Netflix to Acquire Independent Animation Studio Animal Logic to Boost Animation Production Capabilities

Netflix to Acquire Independent Animation Studio Animal Logic to Boost Animation Production Capabilities

Animal Logic animators will form a global production studio with Netflix teams to work on some of the streaming service's biggest titles.

By Reuters | Updated: 20 July 2022 16:06 IST

Netflix to Acquire Independent Animation Studio Animal Logic to Boost Animation Production Capabilities

Photo Credit: Warner Bros

Animal Logic has worked on hits from The Lego Movies to Happy Feet

Click Here to Add Gadgets360 As A Trusted Source

Highlights

The deal was announced just ahead of Netflix's quarterly earnings report
The Animal Logic acquisition still requires regulatory approvals
Terms of the deal were not disclosed

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, the statement said. The streaming service has produced several animated titles including Oscar-nominated films Over the Moon and Klaus.

"Netflix has been investing in animation over the past few years and this furthers our commitment to building a world-class animation studio," Amy Reinhard, Netflix vice president of studio operations, 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.

Netflix Will Now Charge You for Sharing Passwords in These Countries

On Tuesday, the streaming service averted its own worst-case scenario of subscriber losses, posting a nearly 1 million drop from April through June, and predicted it would return to customer growth during the third quarter.

Terms were not disclosed.

Under the agreement, 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.

Netflix to Host Second Global Fan Event TUDUM on September 24

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

Netflix and Animal Logic already are 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.

Why are they still making more Harry Potter? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.