DNEG wins Academy 'Tenet' award
Indian media services company Prime Focus Ltd which merged its VFX business with global visual results provider DNEG (Double Negative) won the Academy Award for Christopher Nolan's spy thriller Tenet earlier this week.This is DNEG's fifth Academy Award-winning in the last seven years, and it is his sixth overall victory; the company has been known for its work in First Man, Blade Runner 2049, Ex Machina, Interstellar, and Inception.
“Working with filmmakers like Christopher Nolan enhances the work of every department that participates in the filmmaking process. That Chris and Warner Bros. have put their trust in our teams and, designing the Tenet results sequence, is a privilege and honour for us, "DNEG chief executive Namit Malhotra said.
Over the years, companies from India have been commended for naming their viewing results in several Hollywood films. For example, Thor: The Dark World, was commissioned by Prana Studios Ltd and Bengaluru-based Mr. X contributed to the 2018 Oscar winner, The Shape of Water.
The Indian animation industry and visual effects, which account for about 10% of the global market share, have the potential to reach 20-25% by 2025, according to a recent report by the media and entertainment industries Boston Consulting Group (BCG) and the Confederation of Indian Industries (CII).
The two sectors, which have grown together by 17% from $ 0.7 billion in 2015 to $ 1.3 billion by 2019, could create 75,000-120,000 jobs over the next five years through their contribution to the global gross domestic product of 0.06- 0.08% more time, according to the report.
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