2024 State of the VFX/Animation Industry: Full Speed Ahead

Client: Disguise

Outlet: VFX Voice

January 30, 2024

Technological advances in the VFX/animation industry don’t look to slow down anytime soon, despite difficult-to-predict economic adjustments up or down in 2024. “We saw huge growth pre-2020 with a decade of Marvel and large-scale VFX productions,” according to Gaurav Gupta, FutureWorks CEO. Then came the rise of streaming services and a post-pandemic boom in content. “The arms race for content is real and has had an impact on the VFX industry too,” Gupta adds. However, with the strikes halting productions, “There was a contraction in this expansion,” Gupta notes. There was also belt-tightening among studios and streamers looking for greater profits.

 

Irrespective of lulls and/or recoveries in film and TV production, the VFX/animation industry should continue to dazzle in 2024 with new developments in tools and techniques. Real-time technology, LED volumes, virtual production, facial recognition, volumetric capture, technical collaborations like OpenUSD and other innovations continue to move the craft forward. In addition, globalization, outsourcing, collaboration and remote workflows are also buoying the industry. And AI, nearly everyone’s favorite topic for debate, promises new efficiencies and creative possibilities for visual effects. Here are some thoughts from top executives about trends, breakthroughs and the business.

 

Read more at VFX Voice.