VMPL
Mumbai (Maharashtra) [India], April 22: Digikore Studios Limited (NSE - DIGIKORE), a leading visual effects (VFX) and technology-driven studio, today issued a statement reflecting on the unprecedented challenges that defined 2024 as a pivotal year for the global VFX industry. Amid widespread disruption, Digikore's strategic foresight, diversified portfolio, and commitment to innovation have positioned it as a frontrunner in the industry's recovery and growth.
A Year of Industry Turmoil
The VFX sector faced its most severe crisis in 2024, driven by the aftershocks of the 2023 WGA and SAG-AFTRA strikes in Hollywood. Production halts, budget constraints, and delayed project approvals caused significant cash flow challenges and pipeline disruptions for VFX studios worldwide. Industry giant Technicolor Creative Studios shut down major divisions including MPC, while the highly respected Jellyfish Pictures ceased operations entirely. In India, a global hub for VFX outsourcing, studios grappled with delayed client payments and shrinking project pipelines, forcing some to merge or shutter. The impact rippled across artists, freelancers, and technology vendors, testing the industry's resilience.
Survivors Poised for Success
VFX studios that weathered the 2024 crisis are now uniquely positioned to thrive. These survivors, including Digikore, have emerged leaner, more agile, and technologically advanced. By streamlining operations, adopting AI-driven workflows, and investing in virtual production, they are ready to meet the surging global demand for high-quality, immersive content. The industry's recovery is fueled by renewed production activity, increased commissioning of original IPs, and aggressive investments from platforms like Netflix, Amazon, Apple, Disney and CBS. Studios that adapted to these shifts are set to capture significant market share in a revitalized VFX landscape.
Digikore's Resilience and Strategic Vision
Digikore Studios navigated the 2024 storm through proactive diversification and innovation. Investments in AI-powered tools, virtual production capabilities, and B2C AI SaaS platforms will ensure stability and growth. Strong client partnerships with global studios, including Disney, Netflix, CBS and Amazon, further bolsters Digikore's resilience.
Bright Outlook for 2025
The VFX industry is rebounding in 2025, with major content houses resuming production and streaming platforms commissioning projects at scale. This momentum, coupled with growing demand for immersive storytelling, sets the stage for robust growth. Digikore is capitalizing on this opportunity by expanding its talent pool, enhancing its proprietary AI tools, and delivering cutting-edge VFX for feature films, OTT series, and emerging formats. Its expansion into AI-driven e-commerce platforms further underscores its innovative approach, blending creative excellence with consumer-focused technology.
With a legacy of contributing to iconic projects like Thor: Love and Thunder, Black Panther: Wakanda Forever, Stranger Things, and Game of Thrones, Digikore continues to set industry standards. As the VFX sector evolves, the company remains at the forefront, driving innovation and excellence.
"2024 was a turning point for VFX," said Abhishek More, Managing Director of Digikore Studios Limited.
"The challenges were immense, but they paved the way for a stronger, more innovative future. We are deeply grateful to our team, vendors, stakeholders, and investors for their unwavering support," More added. Their trust enabled us to emerge stronger and ready to lead the industry's next chapter.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
