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Wed, Feb 13 2013 7:25:29 UTC
Rhythm & Hues bankruptcy may indicate troubled VFX industry
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In a move that surprised the whole industry, Rhythm & Hues
has filed for bankruptcy just a day after winning the 2013 BAFTA awards for visual effects for their movie Life of Pi
While companies are typically not always very stable in Hollywood, due to the type of contracts many of them get, this shows that even when at the very top, being at the Oscars, they can go down in flame when a single contract doesn't pan out. A deal with Prime Focus supposed to keep the company afloat fell through, and now R&H has no choice but to close its doors.
Perhaps more than any other in the past, this bankruptcy is sending a chilling effect
through the other VFX companies and industry experts who now admit there may be a deeply rooted problem.