INDUSTRY. VFX ROUND TABLE
processes through digital workflows and real-time technology. With these tools and techniques, it is possible to maintain a high level of creative productivity and storytelling quality, even on a budget. So in the case of economic challenges, VFX can actually become even more relevant. PW: A recession could potentially have a negative impact on the VFX industry, as it would likely lead to a decrease in the number of films produced. However, it’s important to remember that the VFX industry is not solely dependent on the film industry. There are other areas such as gaming, immersive experiences and advertising that may continue to grow – despite a recession.
Another factor is proper preparation, incorporating VFX into the filmmaking process from the beginning, which can benefit the VFX workflow tremendously and reduce costs by avoiding reshoots or reworking. Plus, it can guarantee a more seamless and cohesive final product. What impact would a recession have? QJ: Once again, it comes down to the people. A recession will inevitably create a situation where people are more desperate to work, more and for less... Recessions usually profit the powerful! More and cheaper VFX for big productions. It also can push the film industry to produce even more as people need distractions in times of hardship. Would Charles Dickens and Eugène Sue have had such success if they were living and writing in the eighties, the era of absolute abundance in the west? RA: The year 2022 may have been a ‘peak content’ year, where we won’t see that many shows greenlit for a while. I think we’ll see smaller budgets over the next few years and that will inevitably cause a crunch in VFX where there’s a lot of pressure to optimise the creation process and automate. In the near term, using virtual production will be a choice 40% of productions in 2023 will make, the word is out that the technology’s promise of
reduced cost and increased flexibility may have finally delivered. HS: Fortunately, the VFX industry has always evolved through challenging times and the entertainment industry is generally fairly recession-proof. LG: While the film and entertainment industry has historically been able to weather economic challenges, it’s always possible that studios may become more conservative with their production budgets, and even alter their schedules in response to these challenges. But in cases like that, VFX can actually play a vital role in helping to reduce costs and streamline traditional filmmaking
“VFX can play a vital role in helping to reduce costs and streamline traditional filmmaking processes through digital workflows and real-time technology”
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