Netflix Reunites with Visual Effects and Animation Firm DNEG in a $350M Extension

Visual effects and animation firm DNEG has extended its contract with Netflix until 2025.

Includes film and television titles produced within the association. strange things Y man project.

The non-exclusive deal is worth $350 million, according to an SEC filing.

DNEG’s ReDefine division will also provide cutting-edge creative control and VFX services for select Netflix programming.

In addition to the upcoming fourth season of Stranger Things, there are other projects under contract. Knives Out 2, a school of good and evil Y Avatar: Last Flight; The Witcher: The Origin of Blood; And the next Fantasy-Comedy-Adventure dreamland For director Francis Lawrence.

DNEG Animation is also working on feature film nimonaNetflix will hit theaters in 2023.

Previous Netflix titles include DNEG Contribution lock and key, shadow and bone, Irregular, damnBlack Mirror and Black Crystal: Age of Resistance. The company received the Visual Effects Society Award for their work. modified carbon And won the BAFTA TV Craft Award black mirror. Gave VFX to Netflix movies like ReDefine The White tiger, mimi Y sweet girlAnd right now the Adam Sandler movie is in the making. Rush.

The announcement comes during the active phase of DNEG, which last week announced the opening of a new facility in Toronto as part of its plan to increase capacity by 40% by the end of the year. This sand hill The effects firm hopes to merge SPAC and Sports Ventures Acquisition Corp. into a single U.S. Nasdaq-listed entity by the end of the first half of 2022.

“Netflix is ​​the leader in content streaming, while DNEG is at the forefront of VFX and virtual production services. “This agreement is transformative for DNEG and provides an opportunity for our global expansion and further investment in DNEG’s industry-leading technology,” said Namit Malhotra, DNEG CEO. “The signing of this multi-year agreement reflects the success of our partnership with Netflix and confirms DNEG’s strategic direction and global growth initiatives.”