Netflix Inks $350 Million-Plus Renewal With VFX Firm DNEG

variety.com:

Todd Spangler NY Digital EditorNetflix signed a multiyear services renewal with VFX and animation company DNEG, under which the streamer expects to spend at least $350 million with the company through 2025.The non-exclusive agreement covers the provision of visual effects and virtual production services by DNEG for Netflix series and movies through September 2025.

The new deal extends and expands on a previous agreement that the companies signed in September 2020.Under the agreement, Netflix has agreed to assign projects to DNEG worth a minimum of $350 million of its services over the term, “which may be increased if certain project award milestones are achieved,” DNEG disclosed in a regulatory filing.DNEG is working with Netflix on a number of upcoming projects, including “Stranger Things” Season 4; Rian Johnson’s “Knives Out 2”; fantasy action-dramas “The School for Good and Evil” and “Avatar: The Last Airbender”; origin story “The Witcher: Blood Origin”; and upcoming fantasy comedy-adventure “Slumberland” from director Francis Lawrence.

In addition, DNEG Animation is providing animation services for the animated feature film “Nimona,” slated to be released by Netflix in 2023.

Previously, DNEG has provided VFX services for Netflix series including “Locke & Key” Seasons 1 and 2, “Shadow & Bone,” “The Irregulars,” Cursed, “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.