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In this podcast, we dive into the world of visual effects with Joseph Bell, a seasoned expert who has navigated the VFX landscape for over two decades. From pioneering roles at (ILM) to scaling startups and analyzing industry trends, Joseph offers his views on the current VFX trends and unparalleled insights into the evolving dynamics and future of visual effects. Welcome, Joseph!
In 2024, the industry’s recovery is slower than expected, largely due to streaming services holding back on content spending. Once Disney and others reach profitability, I anticipate a surge in demand for new content, including VFX, despite some planned reductions in major franchises like Marvel.
Podcast Chapters
| Time | Topic |
| 00:00 | Introduction and Background |
| 04:22 | The Impact of COVID-19 and the Content Arms Race |
| 08:13 | The Effects of COVID-19 and the Hollywood Strikes |
| 13:31 | The Changing Business Model of Visual Effects Companies |
| 24:59:00 | Trends in the Industry: A Look at the Data |
| 30:20:00 | The Impact of Technology on the VFX Industry |
| 38:54:00 | Outlook for the Industry and Key Focus Areas |
Consolidation in the VFX industry has resulted in eight of the top ten groups now operating multiple studios under one umbrella, representing around 35% of the industry. This consolidation, largely from 2010 to 2018, allows these conglomerates greater flexibility to leverage global tax incentives and labor pools.
Key VFX Trend Takeaways:
- The VFX industry experienced a peak in demand in 2022, driven by the content arms race among streaming services and the surge in spending on television and streaming content.
- The COVID-19 pandemic and the Hollywood strikes have had a significant impact on the industry, leading to a slowdown in production and a reduction in the number of visual effects and animation jobs.
- Consolidation is a growing trend in the industry, with larger companies acquiring smaller studios to tap into tax incentives and access different labor pools.
- The business model of visual effects companies is evolving, with a focus on client service and the ability to deliver high-quality work on time.
- Technological advancements, such as cloud-based workflows, generative AI, gaming engines, and virtual production, are shaping the future of the industry.
Sound Bites:
- “The spending was at a rate that turned out to not be sustainable in the long run.”
- “Disney decreased their content commissions by 47% last year.”
- “Television has a fast turnaround and the satisfaction of getting something up on the screen in front of an audience.”
