Alongside the report in its Q2 2022 letter to shareholders that Netflix lost 970,000 subscribers, Netflix also announced the acquisition of Animal Logic, the Australian animation studio responsible for 'Happy Feet,' 'The Lego Movie,' 'Peter Rabbit' and more. The transaction is expected to close later this year. 'Netflix has1 been investing in animation over the past few years, and this furthers our commitment to building a world-class animation studio,' said Amy Reinhard, Netflix vice president of Studio Operations, in an official statement. 'Animal Logic is a leading animation studio with innovative technology that will strengthen our existing business and increase our long-term capacity in the animation space, so that we can better entertain our members around the world.' This puts Netflix in a better position to compete against Disney+ and its array of family-friendly animated films. Expanding the Netflix animation team is the company's attempt to advance the buildout of its...
learn more
