While the famed creative services company has begun to shut down U.S. operations, the leadership and most of the artistic staff at The Mill have joined forces with Dream Machine FX for a new venture.
The parent company sent U.S. employees a WARN notice on Friday, signaling a potential closing or mass layoff due to ‘severe financial challenges.’
The former Executive Producer at Wētā FX will report directly to Andrea Miloro, Chief Business & Strategy Officer, and Caroline Parot, Chief Executive Officer.
The appointment comes at a pivotal time for the company, as it continues to innovate across its global studios, leveraging new technologies to drive creativity across multiple platforms.
The new holding company housing MPC, Mikros Animation, The Mill, and Technicolor Games plans a gradual transformation from VFX and animation businesses to a singular ‘visual experiences’ company delivering cutting-edge technology in visual storytelling.
In partnership with NantStudios, the company will expand its Culver City-based 60,000 sqft creative hub to include new LED stage and real-time production services, set to open in 2023.
Previous division of Technicolor SA is now an independent, publicly traded company under TCHCS on Euronext Paris, while Technicolor, comprised of the Connected Home and Vantiva Supply Chain Services divisions, will remain listed on Euronext Paris under its new name of Vantiva.
New president Jeaneane Falkler and executive creative director Sylvain Doreau are leading an aggressive recruitment effort as the group joins fellow Technicolor Creative Studios business brands MPC, The Mill, and Mikros Animation in providing a growing suite of production services across games IP, from in-game assets to TV advertising, interactive experiences, animation and feature length film.
MPC, The Mill, Mikros Animation, and Technicolor Games each saw significant revenue increases despite continued pandemic-related impacts; strong overall growth was reported, largely driven by demand for original content.
Company will retain 35% stake in new entity that includes MPC for film and episodic VFX, The Mill for advertising, Mikros for animation, and Technicolor Games for the gaming industry; debt refinancing also planned, with deal set to conclude the latter part of Q3 2022.
Technicolor Creative Studios continues its strategic rebranding and consolidation by integrating its visual effects companies into one of the world’s largest VFX studios.
Technicolor Creative Studios merges the 2 companies, creating the world’s largest VFX studio for the advertising and brand experience industries.
New Technicolor Creative Studios’ gaming division head will focus on global growth of the company’s gaming offerings.
