Leading VFX and animation company expands previous agreement with streamer in an extension worth a minimum of $350 million.
Leading VFX and animation company DNEG has signed a new, multiyear services agreement with leading streamer Netflix valued at a minimum of $350 million, according to an SEC filing. The non-exclusive agreement, which extends and expands on the companies’ previous agreement signed in September 2020, covers visual effects and virtual production services by DNEG for Netflix series and feature programming through 2025.
The DNEG-Netflix agreement further aligns DNEG’s expanding global footprint with Netflix’s diverse programming slate. The agreement calls for a significant expansion of DNEG’s work for the streamer, both domestically and internationally; DNEG’s ReDefine division will also supply VFX services and top-end creative supervision for select Netflix programming.
“Netflix is the leader in the field of streaming content, and DNEG is at the forefront of VFX and virtual production services,” said Namit Malhotra, DNEG Chairman and CEO. “This agreement is transformative for DNEG and creates the opportunity for further expansion of our global scale and further investment in DNEG’s industry-leading technology. The signing of this multiyear agreement reflects the success of our partnership with Netflix to-date and validates DNEG’s strategic direction and worldwide growth initiatives.”
Malhotra continued, “This deal allows us to continue providing Netflix with the very highest levels of quality and service across its programming globally. I am proud of the long relationship DNEG enjoys with Netflix and our work on some of their most popular and critically acclaimed shows. To meet the strong demand for our services and drive even further growth, DNEG is looking to expand our capacity up to 40% by year-end 2022.”
DNEG, which has won seven Oscar for its visual effects work, including six of the last eight awards, is already working on a number of Netflix projects, including the highly anticipated Stranger Things Season 4; Rian Johnson’s Knives Out 2; fantasy action-dramas The School for Good and Evil and Avatar: The Last Airbender; origin story The Witcher: Blood Origin; and upcoming fantasy comedy-adventure Slumberland for director Francis Lawrence. DNEG Animation is providing animation services for the troubled but back on track animated feature film Nimona, which will be released by Netflix in 2023.
Previous DNEG work for Netflix included the series Locke & Key Seasons 1 and 2, Shadow & Bone, The Irregulars, Cursed, Altered Carbon Seasons 1 and 2, Jupiter’s Legacy, Away, The Letter For The King, Black Mirror Seasons 4 and 5, and The Dark Crystal: Age of Resistance, as well as a number of Netflix movies. DNEG won a Visual Effects Society Award for its work on Altered Carbon and a BAFTA TV Craft Award for its work on Black Mirror. ReDefine has delivered VFX for Netflix movies such as The White Tiger, Mimi and Sweet Girl, and is currently in production on the upcoming Adam Sandler movie, Hustle.
Dan Sarto is Publisher and Editor-in-Chief of Animation World Network.