Netflix to acquire animation studio Animal Logic
James R | On 31, Jul 2022
Netflix has agreed a deal to acquire animation studio Animal Logic.
The streamer, which has been facing a challenging time this year after losing subscribers for the first time, is nonetheless the biggest streaming player in the business and has made a concerted effort to grow its own stable of resources and intellectual property. In recent years, it has acquired the Roald Dahl Story Company, the VFX firm Scanline, mobile developer Next Games and comic book company Millarworld.
Now, it has added its own animation studio to the list, with an agreement to acquire the Australian company that has been producing visuals and animation for 30 years. It has worked on Hollywood blockbusters including Happy Feet, Legend of the Guardians: The Owls of Ga’Hoole, The LEGO Movies and Peter Rabbit 1 & 2, alongside visual effects work for The Matrix, Moulin Rouge!, 300, and The Great Gatsby.
The announcement builds on an existing partnership between the two companies, with a slate of films across Animal Logic’s Sydney and Vancouver studios including The Magician’s Elephant, directed by Wendy Rogers, and the recently announced The Shrinking of the Treehorns, directed by Ron Howard, for Netflix. It also follows a push by Netflix into animation, with films including Klaus, Over the Moon and The Sea Beast.
“Netflix has been investing in animation over the past few years and this furthers our commitment to building a world-class animation studio,” said Amy Reinhard, Netflix Vice President of Studio Operations. “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.”
The resulting production team and animation studio will produce some of Netflix’s largest animated film titles, although Netflix will continue to work with other studios around the world for animated series and film needs.
Led by CEO and co-founder Zareh Nalbandian, the Animal Logic teams and leadership will remain operating under the Animal Logic brand and will fulfil production of existing and ongoing commitments and continue to collaborate and work with longstanding studio partners.
“After 30 years of producing great work with great people, this is the perfect next chapter for Animal Logic,” said Nalbandian. “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 completion of the acquisition is subject to regulatory approvals and other customary closing conditions, but the transaction is expected to be closed later this year.