Leader in VFX and Animation DNEG has signed a new multi-year services agreement with major streamer Netflix worth at least $350 million, according to a filing with the SEC. The non-exclusive agreement, which extends and expands the companies’ previous agreement signed in September 2020, covers visual effects and virtual production services by DNEG for Netflix series and feature film programming through 2025.
The DNEG-Netflix deal further aligns DNEG’s growing global footprint with Netflix’s diverse programming. The agreement calls for a significant expansion of DNEG’s work for the streamer, both domestically and internationally; DNEG’s ReDefine division will also provide high-end VFX services and creative oversight for select Netflix programming.
“Netflix is the leader in streaming content, and DNEG is at the forefront of visual effects and virtual production services,” said Namit Malhotra, President and CEO of DNEG. “This agreement is transformative for DNEG and creates the opportunity for further expansion of our global scale and further investment in DNEG’s cutting-edge technology. The signing of this multi-year agreement reflects the success of our partnership with Netflix to date and validates DNEG’s strategic direction and global growth initiatives.
Malhotra continued, “This agreement allows us to continue to provide Netflix with the highest levels of quality and service in its programming globally. I’m proud of DNEG’s long relationship 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 our growth even further, DNEG is looking to increase our capacity by up to 40% by the end of 2022.”
DNEG, which has won seven Oscars 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; by Rian Johnson Knives Out 2; fantasy action dramas The School of Good and Evil and Avatar: The Last Airbender; origin story The Witcher: Origin of Blood; and upcoming fantasy comedy-adventure Slumberland for director Francis Lawrence. DNEG Animation provides animation services for the troubled but back on track animated feature film Nimonawhich will be released by Netflix in 2023.
DNEG’s previous work for Netflix included the series locke and key Seasons 1 and 2, Shadow & Bones, The Irregulars, Damn, 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 his work on black mirror. ReDefine provided visual effects for Netflix movies such as The White Tiger, Mimi and nice girl, and is currently in production on Adam Sandler’s next film, Hustle.
Dan Sarto is the publisher and editor of Animation World Network.