Pune-based Digikore Studios that provides visual Effects (VFX) services for streaming, TV, film, commercials and virtual productions, is opening new production facilities in Mumbai and Montreal. The studio known for shows like Jumanji and Game of Thrones is expanding to accommodate the growing demand from streaming services that are in a fierce competition for subscribers.
Services such as Netflix, Apple TV+ and Disney+ are expected to spend billions of dollars this year on shows and films. Netflix alone is estimated to spend $19 billion in content this year.
“In a bid to leverage the great talent pool of visual effects artists in Mumbai and Montreal, Digikore Studios is all set to open facilities there. The new facilities in Mumbai and Montreal along with our existing facility in Pune will help us become a 600+ talent strong VFX studio and will position us as a leading global player in the VFX industry,” said Digikore Studios founder and CEO Abhishek More.
He further said, “We have the pent-up demand from projects put on hold during the lockdowns coupled with the proliferation of streaming channels which have to be fed with a continuous stream of content. The technical capabilities of VFX have leapt forward in recent years and the boundaries are being constantly pushed. It’s no longer just the tent pole movies that get the full VFX treatment either.”
In an official statement, the company spoke about the market valuation of the VFX-industry. They wrote that the visual effects market was valued at USD 6.7 billion in 2020 and is projected to reach USD 9.7 billion by 2028, growing at a CAGR of 5.19 per cent from 2021 to 2028. One of the main factors driving the rise of the global VFX market is the growing demand for high-quality content.
Catering to clients in North America, Europe, Australia and Asia, Digikore Studios is a leading visual effects studio and creative home for some of the industry’s top VFX talent. Digikore is among the very few VFX studios in India who have been audited and security cleared by TPN, Disney/Marvel, Netflix, Amazon, Paramount, Warner and Sony. Over the last 13 years Digikore has delivered VFX on over 150 films and series including Jumanji, Deadpool, Patriot’s Day, The First, Stranger Things, The Last Ship, Stargirl, Star Trek Beyond, Game of Thrones, The Walk, Proud Mary, Transformers: Age of Extinction, Expendables 3, Need for Speed, Don Jon, Titanic 3D, Ghost Rider: Spirit of Vengeance, Blended, Everly and several other films and series.
“The Mumbai and Montreal facilities will help us strategically align with the demands of the entertainment industry and seize upon our new growth initiatives,” More added.