Netflix has acquired Animal Logic, an Aussie animation studio behind Happy Feet and The Lego Movie.
👉 Background: Animal Logic is a Sydney-based animation studio that’s been running for more than 30 years. This crew have been involved in some pretty big name projects like The Matrix, The Great Gatsby, Happy Feet and The Lego Movie.
👉 What happened: Now Animal Logic has scored another big win: being acquired by Netflix for a mysterious "substantial" figure.
👉 What else: This ain’t the only similar deal Netflix has done recently - it also snapped up the Roald Dahl Story Company. Netflix seems to have realised it needs to get some intellectual property of its own.
💡Netflix isn't just in the streaming wars, it's in the business of creating valuable intellectual property.
💡While Netflix started off aggregating other companies' content, it's slowly but surely creating its own proprietary IP like Stranger Things, Inventing Anna and Bridgerton.
💡We've already seen other streaming services stream ahead when it comes to IP. Forbes estimates that the IP behind Mickey Mouse alone is worth $5.8 billion each year for Disney. So this deal will beef up Netflix's ability to create original live action AND animated films.
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