Today, Netflix has announced it has acquired Animal Logic, an animation studio with credits on films and shows such as Captain Marvel, The Lego Movie 2, Peter Rabbit, Guardians of the Galaxy 2, and more.
The Australian studio has been in the business since its debut in 1994 on Little Women, and has since contributed to numerous popular films. Some of its older credits include Babe, The Matrix, Farscape, Moulin Rouge!, The Lord of the Rings: The Fellowship of the Ring, and Harry Potter and the Globet of Fire.
Currently, the studio is hard at work on animation services for Astro Boy, and is also working on The Magician's Elephant and The Shrinking of the Treehorns in partnership with Netflix.
With Animal Logic, Netflix picks up approximately 800 Sydney and Vancouver-based employees, and intends to use its resources to "produce some of our largest animated feature films." The deal has not yet closed, but is expected to later this year.
This news comes alongside Netflix's Q2 earnings report, during which we also learned that Netflix lost one million subscribers in its last fiscal quarter, and is preparing to release its planned low-cost ad tier in early 2023.
Rebekah Valentine is a news reporter for IGN. You can find her on Twitter @duckvalentine.