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DNEG Group’s strategic acquisition: A new era in media tech
In a move that has sent ripples through the entertainment industry, DNEG Group, renowned for its visual effects work on blockbusters like “Dune” and “Oppenheimer,” has acquired Prime Focus Technologies (PFT), an AI-powered media tech company. This acquisition is poised to revolutionize the way content is managed, produced, and distributed across the globe.
The power of AI in media workflows
The acquisition of PFT brings DNEG Group a step closer to becoming an end-to-end solutions provider. PFT’s media workflow and automation software suite, Clear and Clear AI, will enable DNEG to offer transformational solutions to streaming platforms, studios, broadcasters, and brands. This integration aims to streamline content management, video collaboration, and automation in the production and distribution process.
“Acquiring the software-as-a-service business of PFT advances the DNEG Group’s status as an end-to-end solutions provider,” the company stated. This move will allow DNEG to expand into media tech and distribution services, including fulfillment, localization, and marketing. The Group’s worldwide M&E client base will benefit from managing the entire lifecycle of their content with one trusted partner.
A significant investment and a new division
This acquisition follows a substantial $200 million investment in the DNEG Group by United Al Saqer Group, a leading Abu Dhabi-based investor. This investment has facilitated the launch of DNEG’s new division, Brahma, which is developing a comprehensive AI-powered, photo-real CGI creator. This technology aims to democratize photo-real content creation across various applications, marking a significant leap in the industry.
AFI Conservatory’s Canva Fellowship: Nurturing the next generation of filmmakers
In another exciting development, the American Film Institute (AFI) has announced the recipients of the 2024-2025 Canva Fellowship at the AFI Conservatory. This fellowship aims to support emerging filmmakers in their creative journeys, providing them with the resources and opportunities to hone their craft.
Meet the fellows
The six recipients of the Canva Fellowship are Eliana Alcouloumre (Directing), Katheryn “Silas” Croddy (Cinematography), Frida Gonzalez (Editing), Cierra Hendrix (Producing), Khairi Reynolds (Production Design), and Lindsay “Elle” Tilden (Screenwriting). Each fellow will receive a $40,000 scholarship over their two-year MFA program at the AFI Conservatory, totaling $240,000 in awards.
The fellowship, now in its second year, is a collaboration between Canva and AFI to educate and inspire the next generation of filmmakers. “The AFI Conservatory is dedicated to educating emerging filmmakers, both in the art of filmmaking and how to become leaders in their creative communities,” said Susan Ruskin, Dean of the AFI Conservatory.
A partnership with a purpose
Kristine Segrist, Global Head of Consumer Marketing at Canva, expressed her excitement about the partnership. “We’re thrilled to partner with AFI for a second year to support this talented group of creatives in taking their careers to new heights. This program is close to our hearts at Canva because we believe in the power of visual storytelling to transform and inspire.”
The American Pavilion’s student program expands to Australia
The American Pavilion is set to expand its student program to Sydney, Australia, with the launch of its AmPav student intensive at SXSW-Sydney in October. This program will offer university students and recent graduates exclusive access to festival activities, networking opportunities, cultural exploration, and industry insights from leaders across film, music, technology, and interactive media.
Applications for the program are now open, providing a unique opportunity for students in film, media, business, journalism, event, culinary, and hospitality fields to gain invaluable experience and connections.
A reflective closure
These developments highlight the dynamic and ever-evolving nature of the entertainment industry. From DNEG Group’s strategic acquisition and investment in AI-powered technology to AFI’s commitment to nurturing new talent and the American Pavilion’s expansion, the industry is poised for significant transformation. As we look to the future, it is clear that innovation, collaboration, and education will continue to drive the industry forward, creating new opportunities and inspiring the next generation of storytellers.
