Yesterday, news emerged that Jellyfish Pictures is suspending its global operations. The renowned UK-based VFX and animation powerhouse has since issued an official statement regarding the same.
“Like so many other companies operating across the VFX, animation and wider creative industries, we’ve been battling hard in the face of strong headwinds over the past twelve months,” Jellyfish Pictures spokesperson shared in an official statement. “The long-tail impact of Covid, coupled with rising costs and the fall-out from the writer and actor strikes, have had a profound effect on our business.”
It further reads, “Over recent months, we’ve been working closely with our key stakeholders to find a path forward, including exploring all options for sale and investment, with the aim of putting in place a strong financial platform upon which we can build. While we continue to engage in these discussions and explore our options, we have today taken legal steps to protect the position of the business while we strive to find a way forward.”
Expressing his pride on their rich legacy, the company’s leader mentioned, “We have so much to be proud of. We’ve worked on fantastic, ground-breaking projects with brilliant partners. And we want to thank our amazingly talented award-winning teams who day in, day out, strive to push creative boundaries with their innovative thinking and skill.”
Jellyfish Pictures is known for the Annie Award‑winning How to Train Your Dragon: Homecoming (Best Animated Special) and animated feature Spirit: Untamed. It is the VFX studio behind critically acclaimed series like Netflix’s The Gentleman and Apple TV’s Constellation. The Emmy and Bafta Award-winning studio had worked with high-profile clients such as Disney, HBO, BBC, Amazon.
Read the detailed report here: Jellyfish Pictures ceases operations globally amid financial struggles