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Movie production and streaming giant, Netflix has announced the acquisition of Munich-based visual effects company, Scanline VFX for an undisclosed sum.
The news comes off as a significant one as Netflix has been investing in bolstering its in-house capabilities in the movie production and streaming industry. Its acquisition of Scanline VFX is expected to be completed in the first quarter of 2022, and Netflix’s VP of Studio Operations, Amy Reinhard says the company will invest “in Scanline’s pipeline, infrastructure, and workforce and continue to support the pioneering work that Scanline’s Eyeline Studios is doing in virtual production to push the boundaries of what is visibly possible.”
Scanline VFX was founded in 1989 in Munich Germany, and now has offices in Vancouver, Montreal, Los Angeles, London, Munich, Stuttgart, and Seoul. Since its inception, Scanline VFX has established itself as one of the best in the visual effects industry and has completed a series of iconic projects for several clients.
The studio helped create the visual effects for “Game of Thrones”, Marvel’s “Eternals” and “Shang-Chi and the Legend of the Ten Rings,” “Black Widow,” “Black Panther,” “Captain Marvel,” “Iron Man 3” and “Captain America: The Winter Soldier,” “Godzilla vs King Kong,” “Zack Snyder’s Justice League,” “Free Guy,” “Joker” and Clint Eastwood’s “Hereafter.”
The startup has also done a series of titles for Netflix Inc (NASDAQ: NFLX) including Cowboy Bebop, Blood Red Sky and Stranger Things 3. According to Netflix, the acquisition of Scanline VFX will not disrupt the way the startup operates prior, and the parent company said it will allow the studio to work with other clients around the world.
In addition to this, Netflix said its visual effects needs will not only be placed on Scanline VFX alone.
“We’ll also continue to rely on many other studios around the world for our VFX needs so we can continue to ensure that our creators have access to the world’s most innovative tech, and continue to bring the most compelling and cutting-edge storytelling to our members,” Reinhard stated.
Netflix Scanline VFX Acquisition: Repositioning to Beat the Competition
Netflix currently ranks as the movie streaming service provider with the largest number of subscribers compared to Amazon Prime Video from Amazon.com Inc (NASDAQ: AMZN) and Disney+ from Walt Disney Co (NYSE: DIS). However, Netflix needs the current investments in key aspects of its business including the visual effect niche to maintain and extend its dominance in the industry.
In addition to its Scanline VFX purchase, Netflix also revealed its plans in the past week to double the size of its base at Shepperton Studios as reported by The Guardian. This studio is credited as the base where the streaming giant produced the TV series Enola Holmes and films including The Old Guard.
Netflix has also been making big money expenditures to its existing subsidiaries including Albuquerque Studios and its basic focus is to create an enabling environment for its creators and all staff involved in its movie production ventures.