VFX OUTLOOK: FROM SWOON TO BOOM AND FULL SPEED AHEAD By CHRIS McGOWAN
TOP: Jurassic World: Dominion (Image courtesy of Universal Pictures)
Last year, while the movie and TV industry played catch-up with delayed projects, explored various release strategies and struck outsized production deals, the VFX sector invested heavily in remote work capabilities and achieved significant advancements in areas like virtual production. The stage was set for 2022, which looks to be a boom time for studios, streamers and the VFX business. “The amount of work out there is crazy right now,” says Ingenuity Studios founder and Visual Effects Supervisor David Lebensfeld. “I think that it’s just going to keep increasing, too, throughout 2022 and 2023. There was a backlog of projects that didn’t happen in 2020. So, it feels like everything has been compacted.” In addition, the streamers have forged ahead with their already ambitious original production plans. Lebensfeld comments, “Streamers are definitely impacting business positively. It’s more competitive than ever on the streamer side, with their ongoing content war. As a result, there’s so much work to be had. To be honest, I don’t think the industry has ever been bigger or busier.” In terms of deals, big can mean really big. Streamers and studios announced various nine-figure production packages in 2021. Netflix is paying an estimated $465 million for two sequels of the Lionsgate mystery Knives Out. The streamer has also struck a multi-year deal with Steven Spielberg’s Amblin Partners. Apple TV+ will spend $200 million on Matthew Vaughn’s Argylle. Meanwhile, ViacomCBS (owner of streamer Paramount+) is reportedly paying $900 million for new South Park seasons through 2027 and 14 South Park feature films. Among various other major deals, Universal Pictures and its streaming sibling Peacock are spending an estimated $400 million+ for a new Exorcist trilogy. And in the year’s biggest deal of all, Amazon purchased MGM for $8.45 billion. Meanwhile, the streamers further fortified their positions last year by dominating the 2021 Emmy Awards, with Netflix taking best series (The Crown) and winning 44 Emmys, while HBO/HBO Max took 19, Disney+ captured 14, Apple TV+ took home 10 and
72 • VFXVOICE.COM WINTER 2022
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