Hollywood giant Technicolor to establish A$26 million VFX studio in Adelaide
13 Mar 2018
Global entertainment giant Technicolor has announced plans to establish a
500-person visual effects (VFX) studio in Adelaide, valued at A$26 million.
The studio, which will be named Mill Film, will deliver VFX for major film
studios and streaming services, with a later expansion into virtual and
South Australian Government
is providing up to A$6 million from its Economic Investment Fund to support
the project, which it expects to have an economic benefit of around A$252.6
million over ten years.
Frederic Rose, CEO of Technicolor, says Adelaide will become a global VFX
destination ‘once the secret gets out’.
‘We picked Australia as an opportunity for expansion because it provides an
ability to engage with a pool of proven creative talent; work with leading
universities; and build on a modern and mature infrastructure that is
critical for working on high-end VFX projects,’ says Rose.
Mill Film will comprise an Adelaide Centre of Excellence and VFX Academy,
together accommodating 500 people, ranging from technologists to artists,
when running at full strength within five years.
A French company, Technicolor
employs more than 15,000 globally with facilities in Paris, London, Los
Angeles, Montreal, New York, Vancouver, Bangalore and Shanghai.
Technicolor worked on the 2018 Oscar-winning film The Shape of Water, along with films such as the Jungle Book, The Martian, Blade Runner 2049, Wonder Woman and Pirates of The Caribbean: Dead Men Tell No Tales.
The investment will be a boost for existing Adelaide VFX businesses, with
the Centre of Excellence and Academy set to attract talented artists to
South Australia from around the world. A South Australian post-production,
digital and visual effects (PDV) rebate has come into effect this year,
complementing the Australian Government’s screen production incentive
producer offset (40 per cent) and PDV offset (30 per cent) streams.
Companies are eligible to receive a 10 per cent rebate on PDV work
undertaken in South Australia on an eligible project.