INDUSTRY BRIEFINGS
CUBE STUDIO VIRTUAL PRODUCTION ACCELERATOR & INNOVATION LAB IN PAKISTAN C UBE Studio has announced the launch of Pakistan’s first Virtual Production Accelerator and Innovation
“Our mission is to accelerate the advent of virtual production, making it accessible and sustainable while providing a platform for the next generation of storytellers,” said James Hakesley, co-founder and CEO of CUBE Studio. “The Accelerator and Lab are just the beginning of our commitment to advancing the creative industry in Pakistan.”
Lab, an ambitious initiative geared towards equipping the country’s creative community with top-class training and resources. The first cohort of the Accelerator’s will be welcomed at Pakistan’s National Aerospace Science & Technology Park early this year, given access to mentorship and in-depth skills training including motion capture, immersive set design, real-time rendering and extended reality (XR) applications. Alongside the Accelerator, the Innovation Lab will be serving as a dynamic think tank where technologists, industry experts and creatives can collaborate and experiment with emerging techniques in VP. The Lab’s purpose is to foster innovation by providing a dedicated space for the exploration and development of new production methodologies that redefine storytelling. To ensure the Accelerator remains at the cutting edge, CUBE Studio has partnered with several top-tier technology companies and educational institutions. This will ensure that the curriculum and resources provided to participants are aligned with global industry standards, preparing them for success in an ever-evolving media landscape.
I n a move aimed at bolstering the UK’s position in the global VFX industry, the Autumn Budget included a significant enhancement to the country’s VFX tax credit. The tax relief rate for visual effects production costs incurred in the UK will rise from 25.5% to 39% (29.25% net) starting on 1 April 2025. This increase, which builds on proposals first introduced in the March 2024 Budget, is expected to drive greater investment in the UK’s film and TV sector. The enhanced tax credit will apply to all VFX spending in the UK, with the added benefit of being exempt from the existing 80% cap on overall qualifying expenditure under the Audio-Visual Expenditure Credit scheme. It’s also the first time that costs associated with generative AI will be
TAX CREDITS GIVE VFX INDUSTRY A BOOST
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