1 00:00:00,080 --> 00:00:13,000 Speaker 1: M Welcome to Strictly Business Varieties weekly podcast featuring conversations 2 00:00:13,000 --> 00:00:16,120 Speaker 1: with industry leaders about the business of media and entertainment. 3 00:00:16,480 --> 00:00:20,320 Speaker 1: I'm Cynthia Littleton, co editor in chief of Variety Today. 4 00:00:20,320 --> 00:00:24,960 Speaker 1: My guest is Praim Acaraju, CEO of Wetta Effex. Wetta 5 00:00:25,120 --> 00:00:28,520 Speaker 1: is the extremely well respected visual effects firm founded twenty 6 00:00:28,520 --> 00:00:31,680 Speaker 1: five years ago in New Zealand by filmmakers Peter Jackson 7 00:00:31,680 --> 00:00:35,920 Speaker 1: and fran Walsh. Acaraju is a veteran digital entrepreneur who 8 00:00:36,000 --> 00:00:40,080 Speaker 1: joined Wedda in early He's helped transform the company through 9 00:00:40,120 --> 00:00:42,360 Speaker 1: the sale of some of its software and its tools 10 00:00:42,600 --> 00:00:46,240 Speaker 1: to San Francisco based distributor Unity for one point six 11 00:00:46,240 --> 00:00:49,600 Speaker 1: billion dollars last November. Now, the rest of the business, 12 00:00:49,600 --> 00:00:52,800 Speaker 1: known as Wedda Effex, is hitting the gas on developing 13 00:00:52,840 --> 00:00:57,640 Speaker 1: original content from filmmakers other than Jackson has Acaraju says 14 00:00:57,960 --> 00:01:01,160 Speaker 1: the company intends to capitalize on the strong reputation it 15 00:01:01,240 --> 00:01:05,760 Speaker 1: has among directors. Acaraju offers insights into the global content 16 00:01:05,840 --> 00:01:09,040 Speaker 1: boom that he sees from what as perspective of receiving 17 00:01:09,040 --> 00:01:11,920 Speaker 1: a tidal wave of bids every month for visual effects work. 18 00:01:12,640 --> 00:01:15,520 Speaker 1: Our conversation also takes a turn back a few years 19 00:01:15,560 --> 00:01:18,600 Speaker 1: to the time when Acaraju was working with his partner 20 00:01:18,600 --> 00:01:23,360 Speaker 1: Sean Parker on the screening room home theater concept. Acaraju 21 00:01:23,400 --> 00:01:26,280 Speaker 1: explains how the frustration of not being able to get 22 00:01:26,360 --> 00:01:29,319 Speaker 1: that off the ground helped bring focus to his next 23 00:01:29,400 --> 00:01:36,680 Speaker 1: business efforts. That's all coming up after the break. When 24 00:01:36,680 --> 00:01:39,399 Speaker 1: you need to know when you want to hear what's trending, 25 00:01:39,480 --> 00:01:44,480 Speaker 1: what's buzzing, from audiobook recommendations to leading podcasts, album reviews, 26 00:01:44,520 --> 00:01:47,760 Speaker 1: to news variety. As you plugged in What to Hear 27 00:01:47,880 --> 00:01:51,440 Speaker 1: powered by Audible, your home for all things audio, Visit 28 00:01:51,480 --> 00:01:56,760 Speaker 1: Variety dot com, slash what to Hear Frame. Acaraju, CEO 29 00:01:57,040 --> 00:01:59,400 Speaker 1: of whata f X, thank you so much for joining 30 00:01:59,440 --> 00:02:03,160 Speaker 1: us today. Thank you, thanks for having me grime. Let's 31 00:02:03,160 --> 00:02:06,720 Speaker 1: talk about uh. You joined the company which is very 32 00:02:06,720 --> 00:02:09,959 Speaker 1: well known, very established in Hollywood as a top, top 33 00:02:10,080 --> 00:02:15,880 Speaker 1: cutting edge source of visual effects, digital graphics, UM, computer 34 00:02:15,960 --> 00:02:18,720 Speaker 1: generated imagery, all of the things that have moved filmmaking 35 00:02:18,840 --> 00:02:22,280 Speaker 1: so far in the last decade or so. UM. We 36 00:02:22,320 --> 00:02:24,320 Speaker 1: know it to be established as a very you know, 37 00:02:24,440 --> 00:02:26,920 Speaker 1: state of the art company, but it's undergone a lot 38 00:02:26,960 --> 00:02:29,240 Speaker 1: of changes in the last couple of years since you 39 00:02:29,400 --> 00:02:34,880 Speaker 1: arrived in early as CEO. Tell us about the transformation 40 00:02:34,960 --> 00:02:38,600 Speaker 1: that's happened at WETTA, and and tell us why it 41 00:02:38,639 --> 00:02:41,000 Speaker 1: was important to take the business in the directions that 42 00:02:41,120 --> 00:02:44,120 Speaker 1: you have over the last two years. Oh, thank you 43 00:02:44,160 --> 00:02:47,200 Speaker 1: so much. Yeah. So, we have had a tremendous amount 44 00:02:47,240 --> 00:02:51,239 Speaker 1: of change, UM and UH in the last two years, 45 00:02:51,240 --> 00:02:55,200 Speaker 1: and I'm really proud of those changes in the success 46 00:02:55,200 --> 00:02:58,040 Speaker 1: we had. The thesis coming in when I came in 47 00:02:58,520 --> 00:03:02,799 Speaker 1: a CEO was really too broad in UM that influence 48 00:03:03,360 --> 00:03:07,560 Speaker 1: and that that you just mentioned, uh so so perfectly, 49 00:03:07,680 --> 00:03:11,639 Speaker 1: which was what is the household name in the households 50 00:03:11,680 --> 00:03:16,280 Speaker 1: that make movies? UM, and it's and we we felt 51 00:03:16,320 --> 00:03:18,440 Speaker 1: like we had a lot more to offer to the world. 52 00:03:18,600 --> 00:03:21,960 Speaker 1: And there were in two things, UM. On top of 53 00:03:22,000 --> 00:03:26,240 Speaker 1: the growing the existing V effects and animation graphics business 54 00:03:26,240 --> 00:03:28,400 Speaker 1: as you mentioned, so I knew we had more to 55 00:03:28,520 --> 00:03:31,840 Speaker 1: offer the world and V effects and animation number two 56 00:03:32,440 --> 00:03:36,720 Speaker 1: was UM really UH will dive in deeper for this 57 00:03:37,200 --> 00:03:40,200 Speaker 1: is a specific strategic advantage of coming in and doing 58 00:03:40,240 --> 00:03:45,800 Speaker 1: original original content. Was the second area that was of 59 00:03:45,920 --> 00:03:50,680 Speaker 1: great interest. In the third UH was really software and 60 00:03:50,720 --> 00:03:54,680 Speaker 1: technology and and and I think that one that's the 61 00:03:54,720 --> 00:03:58,880 Speaker 1: one that's the big headline right now, which is what 62 00:03:58,920 --> 00:04:01,160 Speaker 1: we were able to achieve even a very short period 63 00:04:01,200 --> 00:04:05,840 Speaker 1: of time, um with with our technology uh software stack, 64 00:04:06,320 --> 00:04:08,200 Speaker 1: which we just did that deal with Unity. But those 65 00:04:08,200 --> 00:04:11,280 Speaker 1: are the three areas that we really saw um a 66 00:04:11,360 --> 00:04:17,680 Speaker 1: great deal um of of opportunity in and and uh 67 00:04:17,760 --> 00:04:20,120 Speaker 1: and that's what we've been up to. Let me ask 68 00:04:20,120 --> 00:04:22,200 Speaker 1: you just to step back a little bit, so you 69 00:04:22,320 --> 00:04:24,799 Speaker 1: when you came in, you had you looked at obviously 70 00:04:24,800 --> 00:04:27,159 Speaker 1: the company had a couple of different lanes of activity, 71 00:04:27,600 --> 00:04:30,520 Speaker 1: and you reference that. Just towards the end of last year, 72 00:04:30,560 --> 00:04:33,919 Speaker 1: the end of one you did a big transaction to 73 00:04:34,080 --> 00:04:36,640 Speaker 1: take a part of a lot of the software, some 74 00:04:36,680 --> 00:04:40,839 Speaker 1: of that proprietary software that Wetta had and sold it 75 00:04:40,880 --> 00:04:43,080 Speaker 1: to a company called Unity, which is I believe is 76 00:04:43,080 --> 00:04:45,120 Speaker 1: actually based in the u s. It's the San Francisco 77 00:04:45,200 --> 00:04:48,880 Speaker 1: based f X tech tech company that couldn't wait to 78 00:04:48,920 --> 00:04:52,320 Speaker 1: get its hand on all the Wetta technology. But talk 79 00:04:52,440 --> 00:04:55,479 Speaker 1: us through, like when you got to the company, how 80 00:04:55,520 --> 00:04:59,920 Speaker 1: did you figure how did you determine that a transac 81 00:05:00,000 --> 00:05:03,400 Speaker 1: action with a company like Unity for this section of 82 00:05:03,680 --> 00:05:06,440 Speaker 1: what we was up to made sense. I'd love to 83 00:05:06,440 --> 00:05:09,120 Speaker 1: talk a little bit about the business rationale for how 84 00:05:09,160 --> 00:05:12,919 Speaker 1: you decided to reorganize, what made sense in a sale, 85 00:05:13,000 --> 00:05:16,239 Speaker 1: and what made sense for you to stay and build 86 00:05:17,480 --> 00:05:21,320 Speaker 1: build the company, up the company. Great question. So, UM, 87 00:05:21,360 --> 00:05:27,440 Speaker 1: when we first um started UM in our you know, 88 00:05:27,520 --> 00:05:29,960 Speaker 1: sort of learning about the company, Shawn and I so 89 00:05:30,080 --> 00:05:32,440 Speaker 1: a longtime business partner with Shohn Parker who's also the 90 00:05:32,520 --> 00:05:34,920 Speaker 1: vice chairman of the company, and made investment the company. 91 00:05:35,560 --> 00:05:38,039 Speaker 1: We developed a very close relationship with Peter Jackson and 92 00:05:38,040 --> 00:05:40,840 Speaker 1: fran Walsh over years, and we started learning a lot 93 00:05:40,920 --> 00:05:46,320 Speaker 1: about the technology that they've built, and it was just extraordinary. UM. 94 00:05:46,440 --> 00:05:49,520 Speaker 1: We we both come from obviously Sean in an enormous 95 00:05:49,600 --> 00:05:55,680 Speaker 1: way from technology background, and we just saw that the 96 00:05:55,720 --> 00:06:00,159 Speaker 1: company had created so many tools that could empower so 97 00:06:00,240 --> 00:06:02,839 Speaker 1: many artists around the world. And we also knew with 98 00:06:03,000 --> 00:06:07,600 Speaker 1: the proliferation of so many streaming services. UM just think 99 00:06:07,640 --> 00:06:09,840 Speaker 1: about it, at the time, it was really only Netflix 100 00:06:09,880 --> 00:06:12,600 Speaker 1: that was the dominant player. Then we knew these other 101 00:06:12,640 --> 00:06:15,560 Speaker 1: ones were coming online, whether that be Amazon and then 102 00:06:15,600 --> 00:06:18,200 Speaker 1: Disney Plus and all these others, is that that was 103 00:06:18,240 --> 00:06:23,960 Speaker 1: going to uh greatly outpaced the supply demand curve, and 104 00:06:24,000 --> 00:06:28,520 Speaker 1: we knew that we had an opportunity to help the 105 00:06:28,600 --> 00:06:34,600 Speaker 1: supply side of that by packaging our tools um and 106 00:06:34,600 --> 00:06:37,760 Speaker 1: and taking those to markets. So we were very, very 107 00:06:37,800 --> 00:06:40,960 Speaker 1: good at shipping movies at whether the digital twenty five 108 00:06:41,040 --> 00:06:44,800 Speaker 1: year history a bunch of Academy of nominations and awards 109 00:06:44,800 --> 00:06:48,240 Speaker 1: and things and extraordinary work. And I started as a 110 00:06:48,279 --> 00:06:52,040 Speaker 1: super fan, uh from the beginning before I joined the company. 111 00:06:52,080 --> 00:06:54,720 Speaker 1: I still remained a super fan. UH. And I think 112 00:06:54,760 --> 00:06:57,240 Speaker 1: that's where my my love and my passion is rooted 113 00:06:57,640 --> 00:06:59,640 Speaker 1: in the amazing work that what it does and what 114 00:06:59,720 --> 00:07:03,440 Speaker 1: Peter in frant of built over a twenty five year period. 115 00:07:03,839 --> 00:07:06,080 Speaker 1: While we're the greatest company or one of the best 116 00:07:06,120 --> 00:07:08,040 Speaker 1: companies of ship movies, we're not the greatest company to 117 00:07:08,080 --> 00:07:13,520 Speaker 1: ship software. So in and they're in lie the need 118 00:07:13,560 --> 00:07:17,440 Speaker 1: for a partner, and we knew we can because that's 119 00:07:17,440 --> 00:07:20,200 Speaker 1: a wholly different uh, you know skill, and that's really 120 00:07:20,200 --> 00:07:23,920 Speaker 1: a licensing business, it really is. You're in the right 121 00:07:24,000 --> 00:07:27,040 Speaker 1: a content creative, like very creative created these tools to 122 00:07:27,080 --> 00:07:29,760 Speaker 1: create the art and in service of the director. And 123 00:07:29,800 --> 00:07:31,440 Speaker 1: that's also one of the reasons I feel like we 124 00:07:31,480 --> 00:07:34,560 Speaker 1: have such great advantage of the originals, which we'll talk about, 125 00:07:34,920 --> 00:07:37,640 Speaker 1: but we knew from the get go we had something 126 00:07:37,720 --> 00:07:40,000 Speaker 1: very special, but we wanted a partner to bring it 127 00:07:40,000 --> 00:07:42,720 Speaker 1: to the world because it's like you said, it's licensing, 128 00:07:42,760 --> 00:07:46,520 Speaker 1: it's support, it's documentation, it's it's it's a whole different 129 00:07:46,560 --> 00:07:52,120 Speaker 1: animal UM to ship software and support that versus ship 130 00:07:52,160 --> 00:07:56,240 Speaker 1: movies UH and support that. So we we started on 131 00:07:56,280 --> 00:07:58,800 Speaker 1: our own to do it on our own, quite frankly, 132 00:07:58,880 --> 00:08:02,560 Speaker 1: and we had tremendous amount of investor interest, and we 133 00:08:02,720 --> 00:08:05,880 Speaker 1: recruited a big technology team and recruited a new ct 134 00:08:06,040 --> 00:08:09,520 Speaker 1: O into the company UM. But we really figured out 135 00:08:09,720 --> 00:08:13,200 Speaker 1: quite quickly that the fastest way to market is with 136 00:08:13,240 --> 00:08:16,280 Speaker 1: an established partner. Now you are Unity Software. They have 137 00:08:16,360 --> 00:08:19,200 Speaker 1: one of the top game engines UM in the business. 138 00:08:19,280 --> 00:08:23,200 Speaker 1: The other that many people know is of course Unreal UM. 139 00:08:23,320 --> 00:08:28,600 Speaker 1: But the we were very familiar with unities platform and 140 00:08:29,040 --> 00:08:33,360 Speaker 1: their underlying technology. We're great admireers of it UM and 141 00:08:33,480 --> 00:08:38,559 Speaker 1: they essentially provide tools to empower gamemakers to make games, 142 00:08:39,080 --> 00:08:42,320 Speaker 1: and they were the perfect partner to then partner with 143 00:08:42,440 --> 00:08:45,960 Speaker 1: us to take our filmmaking tools out there to empower 144 00:08:46,040 --> 00:08:50,320 Speaker 1: new filmmakers in television, producers in the same line. So 145 00:08:50,440 --> 00:08:53,200 Speaker 1: now with that big transaction and that big you know, 146 00:08:53,440 --> 00:08:57,040 Speaker 1: evolution for the company, Now that that is that is 147 00:08:57,480 --> 00:09:01,520 Speaker 1: being completed, where is your focus now? So really is 148 00:09:01,520 --> 00:09:04,120 Speaker 1: the other two then? So it's growing the VFX business. 149 00:09:04,160 --> 00:09:09,480 Speaker 1: We've grown about since I've joined as CEO, which is 150 00:09:09,559 --> 00:09:14,000 Speaker 1: terrific growth rate. So we um, we're can I ask 151 00:09:14,080 --> 00:09:16,200 Speaker 1: what's driving that? Would you say? Is it all the 152 00:09:16,320 --> 00:09:20,800 Speaker 1: television shows that are being produced seemingly every hour? Kind 153 00:09:20,800 --> 00:09:25,000 Speaker 1: of exactly, It's like they can create. It's it's unbelievable, right, 154 00:09:25,080 --> 00:09:28,400 Speaker 1: Like every night I turn on Netflix or so and 155 00:09:28,400 --> 00:09:32,439 Speaker 1: there's like a new Yeah, exactly, it's it's it's exactly 156 00:09:32,520 --> 00:09:36,120 Speaker 1: the reason that when we turn on our TVs at night, UM, 157 00:09:36,320 --> 00:09:42,080 Speaker 1: new series, new film, UM, non trivial either like big ones, 158 00:09:42,360 --> 00:09:47,440 Speaker 1: you know, really stars, yeah, big stars, big shows. And 159 00:09:47,960 --> 00:09:50,640 Speaker 1: so we we have been oh yeah, we're way up it. 160 00:09:50,720 --> 00:09:52,800 Speaker 1: We we have and I'm sure we're just like other 161 00:09:52,880 --> 00:09:56,760 Speaker 1: VFX companies. Our bids outstanding, you know, is it is 162 00:09:56,800 --> 00:09:58,760 Speaker 1: kind of a good metric of the business, right like 163 00:09:58,760 --> 00:10:01,960 Speaker 1: how many bids were respond to studios call us up 164 00:10:01,960 --> 00:10:06,160 Speaker 1: and we are five times the amount of bids that 165 00:10:06,320 --> 00:10:10,880 Speaker 1: saying that we were, you know, four or four years ago, UM, 166 00:10:10,960 --> 00:10:14,120 Speaker 1: and we've grown the company nearly twice is twice. The 167 00:10:14,200 --> 00:10:20,040 Speaker 1: amount of the team has grown almost two x UM 168 00:10:20,160 --> 00:10:24,679 Speaker 1: since since I've since I've joined, growing revenue just just 169 00:10:24,760 --> 00:10:27,040 Speaker 1: like what you The reason that you said is just 170 00:10:27,080 --> 00:10:32,640 Speaker 1: an amazing amount of content production UM. And there's no 171 00:10:33,000 --> 00:10:35,640 Speaker 1: big release dates and things like you know on the 172 00:10:35,720 --> 00:10:38,640 Speaker 1: on the online you know, and and the streamer community 173 00:10:38,720 --> 00:10:43,079 Speaker 1: that they just released them right so and so the 174 00:10:43,320 --> 00:10:45,040 Speaker 1: so there's two things that are happening. We have way 175 00:10:45,040 --> 00:10:50,080 Speaker 1: more bids and the bids the turnaround times are shrinking. 176 00:10:51,360 --> 00:10:57,400 Speaker 1: They wanted super past yeah, exactly. So so that is 177 00:10:57,440 --> 00:10:59,520 Speaker 1: a major you can look at that as a very 178 00:10:59,559 --> 00:11:02,640 Speaker 1: good man trick of change, right beyond just the obvious 179 00:11:02,679 --> 00:11:06,120 Speaker 1: of grabbing our remote controls. UM is. Yeah, there's a 180 00:11:06,200 --> 00:11:08,319 Speaker 1: lot more bids and the turnaround times a lot shorter 181 00:11:08,480 --> 00:11:12,920 Speaker 1: than ever before. And so that has been great to see. 182 00:11:12,960 --> 00:11:15,160 Speaker 1: We're going to be expanding internationally. We already came to 183 00:11:15,280 --> 00:11:18,040 Speaker 1: l a UM that was really for original content as 184 00:11:18,080 --> 00:11:20,160 Speaker 1: well as the software as a service because as you 185 00:11:20,240 --> 00:11:25,360 Speaker 1: rightly mentioned, you know, UM, California is where Unity is based, 186 00:11:25,360 --> 00:11:28,320 Speaker 1: but also where all major tech companies that we would 187 00:11:28,320 --> 00:11:31,160 Speaker 1: have wanted to partner with. UM and the evaluated are 188 00:11:31,160 --> 00:11:34,760 Speaker 1: really mostly on this uh side of the side of 189 00:11:34,760 --> 00:11:39,240 Speaker 1: the coast and in the world, and so UM that 190 00:11:39,320 --> 00:11:40,800 Speaker 1: was why we were here. We're also going to be 191 00:11:40,840 --> 00:11:45,360 Speaker 1: expanding in New Canada and the UK and Australia UM 192 00:11:45,600 --> 00:11:49,120 Speaker 1: UH this year. I think all three of those, UM, 193 00:11:49,280 --> 00:11:54,120 Speaker 1: Australia and Canada first and we UH so we're we're 194 00:11:54,160 --> 00:11:56,400 Speaker 1: growing like crazy. So my focus is on that. My 195 00:11:56,480 --> 00:11:59,640 Speaker 1: second focus is of course on Originals as well. I 196 00:11:59,720 --> 00:12:03,840 Speaker 1: felt we have a particular advantage in that business because 197 00:12:03,840 --> 00:12:08,000 Speaker 1: of a relationship with storytellers, our relationship with filmmakers. They 198 00:12:08,000 --> 00:12:10,320 Speaker 1: want to work with what A because they know that 199 00:12:10,400 --> 00:12:13,880 Speaker 1: we're dedicated to the director and to the story more 200 00:12:13,920 --> 00:12:17,120 Speaker 1: than UM. If a business person, like I'm a business person, 201 00:12:17,160 --> 00:12:19,319 Speaker 1: so if I started what it would have looked Thank 202 00:12:19,360 --> 00:12:23,079 Speaker 1: god I didn't, it would have looked totally different, right UM. 203 00:12:23,559 --> 00:12:25,960 Speaker 1: But thank god we were founded by a visionary filmmaker 204 00:12:26,480 --> 00:12:31,760 Speaker 1: UM and visionary producer writer Fran Walsh, because that what 205 00:12:31,960 --> 00:12:34,960 Speaker 1: made it that that was that that etched into the 206 00:12:35,040 --> 00:12:40,920 Speaker 1: DNA of the company from day one, that we are 207 00:12:40,960 --> 00:12:43,800 Speaker 1: in the service of the director, of the storyteller. We're 208 00:12:43,840 --> 00:12:49,000 Speaker 1: in the service of the creative and at any cost. 209 00:12:49,559 --> 00:12:52,080 Speaker 1: So if they want to have visuals, as Peter has 210 00:12:52,120 --> 00:12:55,480 Speaker 1: proven over the years, Lord, yes, and by the way, 211 00:12:55,520 --> 00:12:58,160 Speaker 1: all the directors we worked with, I mean, uh, you 212 00:12:58,200 --> 00:13:00,520 Speaker 1: know we are doing the Avatar sequels and others, and 213 00:13:00,600 --> 00:13:03,960 Speaker 1: so yes, at any cost. That's it really is about that. 214 00:13:04,040 --> 00:13:05,720 Speaker 1: And if you can, if you look at the movies 215 00:13:05,760 --> 00:13:09,080 Speaker 1: that we've been involved with, it's not overdone. You know, 216 00:13:09,160 --> 00:13:11,960 Speaker 1: you're never pulled out of the story because of some 217 00:13:12,080 --> 00:13:17,040 Speaker 1: overwhelming visual effect or you know event. It's always really 218 00:13:17,080 --> 00:13:19,080 Speaker 1: and that's why I keep saying it's in service of 219 00:13:19,120 --> 00:13:22,200 Speaker 1: it is that, Um, it's never underdone or overdone. I 220 00:13:22,200 --> 00:13:27,120 Speaker 1: mean the best visual effects ever is non obvious visual effects, 221 00:13:27,120 --> 00:13:30,040 Speaker 1: meaning that you're in, you just it really did happen. 222 00:13:30,120 --> 00:13:35,680 Speaker 1: People can fly, yeah, direct and also or you see 223 00:13:35,679 --> 00:13:38,360 Speaker 1: these dramatic things. Yea, worlds can explode if people can fly, 224 00:13:38,600 --> 00:13:41,640 Speaker 1: like you know, you're just in that. You suspended all 225 00:13:41,679 --> 00:13:44,280 Speaker 1: disbelief because you just believe in what you're seeing. And 226 00:13:44,320 --> 00:13:48,040 Speaker 1: that's that's the home run. And um, I think we 227 00:13:48,280 --> 00:13:52,800 Speaker 1: deliver that, you know, consistently, and I think that's why 228 00:13:52,800 --> 00:13:56,760 Speaker 1: it's amazing filmmakers that we've had the absolute pleasure worrying with. 229 00:13:56,840 --> 00:13:59,800 Speaker 1: And that's that was our leg up UM and getting 230 00:13:59,800 --> 00:14:03,840 Speaker 1: too originals UM. I can't name the two directors we're 231 00:14:03,840 --> 00:14:06,840 Speaker 1: working with right now because we haven't announced these projects, 232 00:14:06,920 --> 00:14:11,120 Speaker 1: but they were too long time clients of what UM 233 00:14:11,160 --> 00:14:12,680 Speaker 1: and I went to them and I said, hey, we're 234 00:14:12,679 --> 00:14:15,920 Speaker 1: doing originals and one of them said, the best compliment 235 00:14:15,960 --> 00:14:17,440 Speaker 1: I've ever heard. And I said, you know, I want 236 00:14:17,480 --> 00:14:20,920 Speaker 1: you to make original with us and and and really 237 00:14:21,240 --> 00:14:24,280 Speaker 1: only with us. And then the filmmaker said, but you 238 00:14:24,320 --> 00:14:27,960 Speaker 1: only want movies only with what honest? Yeah, and uh 239 00:14:28,120 --> 00:14:30,560 Speaker 1: filmmaker said, well that's easy. No one else knows how 240 00:14:30,560 --> 00:14:33,480 Speaker 1: to make them, so that's like, that's a huge compliment. 241 00:14:33,520 --> 00:14:35,640 Speaker 1: Obviously that person has been working with us for quite 242 00:14:35,680 --> 00:14:39,640 Speaker 1: some time, but it was that trust I think over 243 00:14:39,760 --> 00:14:44,320 Speaker 1: built over twenty five years UM being founded like by 244 00:14:44,360 --> 00:14:49,920 Speaker 1: a director UM and never losing that dedication and spirit 245 00:14:50,760 --> 00:14:56,120 Speaker 1: I think is what earned us UM that reputation UM 246 00:14:56,200 --> 00:14:59,560 Speaker 1: and and trust in the in the creative community, and 247 00:14:59,640 --> 00:15:03,000 Speaker 1: that something I can say that is a huge advantage 248 00:15:03,040 --> 00:15:06,400 Speaker 1: for us UM in in in a very crowded space 249 00:15:06,480 --> 00:15:14,360 Speaker 1: of originals were also very very much um like like Peter, 250 00:15:14,600 --> 00:15:17,440 Speaker 1: very selective, and so we're not going after a huge 251 00:15:17,520 --> 00:15:20,320 Speaker 1: number of originals like I'm gonna see like a hundred 252 00:15:20,720 --> 00:15:22,640 Speaker 1: you know, on the slate and things like that. It's 253 00:15:22,640 --> 00:15:25,640 Speaker 1: gonna be very selective a handful of projects that we 254 00:15:25,680 --> 00:15:30,200 Speaker 1: do really really really well versus fifty projects that you 255 00:15:30,240 --> 00:15:34,280 Speaker 1: know we're in some kind of you know, volume game 256 00:15:34,400 --> 00:15:37,320 Speaker 1: or something like that. We're very much dedicated to quality 257 00:15:38,560 --> 00:15:41,040 Speaker 1: above all else. And if that means we make one movie, 258 00:15:41,480 --> 00:15:44,720 Speaker 1: then that means we make one movie. Don't go anywhere. 259 00:15:44,960 --> 00:15:48,600 Speaker 1: We'll be right back with more from prame Akaraju, CEO 260 00:15:48,720 --> 00:15:51,520 Speaker 1: of what a ex When you need to know, when 261 00:15:51,600 --> 00:15:55,120 Speaker 1: you want to hear, what's trending, what's buzzing, from audiobook 262 00:15:55,160 --> 00:15:59,800 Speaker 1: recommendations to leading podcasts, album reviews, to news Variety. As 263 00:15:59,800 --> 00:16:03,160 Speaker 1: you plugged in What to Hear powered by Audible, your 264 00:16:03,200 --> 00:16:06,680 Speaker 1: home for all things audio, visit Variety dot com, slash 265 00:16:06,760 --> 00:16:09,720 Speaker 1: what to Hear, and we're back with more from what 266 00:16:09,880 --> 00:16:14,480 Speaker 1: a FX CEO prame Akarashu. What a no doubt has 267 00:16:14,560 --> 00:16:18,360 Speaker 1: the incredible pedigree, but it is still such a crowded 268 00:16:18,400 --> 00:16:20,880 Speaker 1: field and it's not you know it's to to do 269 00:16:21,000 --> 00:16:24,520 Speaker 1: really high end content is not inexpensive. You have such 270 00:16:24,520 --> 00:16:29,040 Speaker 1: a great FX business going what what is the what 271 00:16:29,200 --> 00:16:32,840 Speaker 1: is the real driver of going into original content? Because 272 00:16:32,880 --> 00:16:36,840 Speaker 1: it's also like it's a hard marketplace for independent companies. 273 00:16:37,280 --> 00:16:40,200 Speaker 1: Do you want to go into own the sprockets? Do 274 00:16:40,280 --> 00:16:43,440 Speaker 1: you think it's a licensing game? Like how how are 275 00:16:43,440 --> 00:16:46,000 Speaker 1: you going to really make that work at a larger 276 00:16:46,080 --> 00:16:49,080 Speaker 1: volume than certainly what it has been associated with Peter 277 00:16:49,200 --> 00:16:52,080 Speaker 1: Jackson's project, Peter and France parts over the years. But 278 00:16:52,280 --> 00:16:54,240 Speaker 1: to bring in, as you say, like new people and 279 00:16:54,320 --> 00:16:59,640 Speaker 1: have holy original development, that's a really crowded field. Well, um, 280 00:16:59,640 --> 00:17:01,640 Speaker 1: it's in public announced, which is great that Peter and 281 00:17:01,680 --> 00:17:04,960 Speaker 1: Fran are going developing content for it. So that's a 282 00:17:05,080 --> 00:17:12,040 Speaker 1: nice start. Yeah, that one works, um and uh and 283 00:17:12,119 --> 00:17:16,000 Speaker 1: the other two are are absolutely brilliant. And we're just fans. 284 00:17:16,480 --> 00:17:18,960 Speaker 1: We just start with being fans, like you know, and 285 00:17:19,000 --> 00:17:21,880 Speaker 1: I think that that always would be a great guiding light. 286 00:17:22,560 --> 00:17:27,480 Speaker 1: But again we know it's crowded. Um, it's not so 287 00:17:27,560 --> 00:17:30,119 Speaker 1: crowded at the top, like when you're talking about great 288 00:17:30,160 --> 00:17:34,560 Speaker 1: content and great movies, right and um, and I think 289 00:17:34,600 --> 00:17:37,879 Speaker 1: that that's what gravitates towards what We are very very busy, 290 00:17:37,920 --> 00:17:40,359 Speaker 1: that's true, But we're not the biggest shot by any means. 291 00:17:40,440 --> 00:17:42,720 Speaker 1: And we are not the first shop that people call 292 00:17:42,840 --> 00:17:45,760 Speaker 1: when it comes to burning and turning and kind of 293 00:17:46,040 --> 00:17:47,960 Speaker 1: creating really quickly and like all that kind of stuff. 294 00:17:48,000 --> 00:17:50,639 Speaker 1: People call us for the big complicant stuff, like people 295 00:17:50,680 --> 00:17:53,800 Speaker 1: call us for the big third acts, right, and for 296 00:17:53,960 --> 00:17:56,560 Speaker 1: the big movies that are impossible and the world has 297 00:17:56,600 --> 00:17:59,760 Speaker 1: to blow up exactly and then reassembled by itself and 298 00:17:59,800 --> 00:18:03,560 Speaker 1: so like it's it's exactly right. So so we're not 299 00:18:03,880 --> 00:18:07,040 Speaker 1: by any means. You know, there there are many other 300 00:18:07,119 --> 00:18:09,639 Speaker 1: vidual effects companies out there much larger than us that 301 00:18:09,640 --> 00:18:12,680 Speaker 1: that are in that volume game. So I don't think 302 00:18:12,760 --> 00:18:18,320 Speaker 1: that we're not in a hurry um and and and again, 303 00:18:18,359 --> 00:18:21,200 Speaker 1: I think quality always has a place, no matter how 304 00:18:21,240 --> 00:18:25,680 Speaker 1: crowded it is. And so if you have quality stories 305 00:18:25,680 --> 00:18:29,440 Speaker 1: with quality filmmakers in a in a quality script, then 306 00:18:29,480 --> 00:18:31,680 Speaker 1: I think that you're going to always find that place 307 00:18:31,720 --> 00:18:33,600 Speaker 1: and it's going to be break out of the path. 308 00:18:33,800 --> 00:18:36,679 Speaker 1: As far as a business concern, which I think was 309 00:18:36,720 --> 00:18:39,160 Speaker 1: also part of your question, to be honest with you, 310 00:18:39,560 --> 00:18:42,280 Speaker 1: the whole film industry has changed since we wanted to 311 00:18:42,280 --> 00:18:45,560 Speaker 1: go into originals, right like, because remember it's I've been 312 00:18:45,600 --> 00:18:47,400 Speaker 1: there for two years, but then it has been about 313 00:18:47,440 --> 00:18:49,720 Speaker 1: two or three years in the planning, you know, since then. 314 00:18:50,320 --> 00:18:54,639 Speaker 1: And you know, there wasn't just the buy out or 315 00:18:54,720 --> 00:18:58,840 Speaker 1: the margin type of business. You know, there was theatrical 316 00:18:59,480 --> 00:19:01,560 Speaker 1: uh in a it's more real best way. Obviously they 317 00:19:01,600 --> 00:19:04,480 Speaker 1: were back end. You know, there was the film industry itself, 318 00:19:04,480 --> 00:19:08,560 Speaker 1: the head coode financing opportunities which largely don't exist now 319 00:19:09,320 --> 00:19:11,919 Speaker 1: for the most part. And so it is it is 320 00:19:11,960 --> 00:19:14,080 Speaker 1: interesting where it's going to go because I don't think 321 00:19:14,240 --> 00:19:17,880 Speaker 1: anyone really knows because it's when you again, when you're 322 00:19:17,920 --> 00:19:20,760 Speaker 1: on you're doing a thing for Disney Plus or Peacock 323 00:19:20,960 --> 00:19:23,439 Speaker 1: or or Netflix and stuff, they're buying it out. You know. 324 00:19:23,520 --> 00:19:25,560 Speaker 1: There it's theirs. And so that's what I'm saying, Like, 325 00:19:25,600 --> 00:19:28,359 Speaker 1: it's hard to it's hard to build that library and 326 00:19:28,359 --> 00:19:30,520 Speaker 1: that kind of value where you can take it around 327 00:19:30,560 --> 00:19:33,600 Speaker 1: the world. Because the platforms now reach around the world. 328 00:19:34,359 --> 00:19:38,639 Speaker 1: They reach around the world, they're not really economically a 329 00:19:38,680 --> 00:19:41,600 Speaker 1: subscription model is not a transactional model, so it's very 330 00:19:41,600 --> 00:19:45,640 Speaker 1: hard to audit to get paid back in because why 331 00:19:45,640 --> 00:19:50,400 Speaker 1: did someone subscribe to Netflix. Was it for Stranger Things? 332 00:19:50,480 --> 00:19:54,000 Speaker 1: Or was it for you know, you know, you an 333 00:19:54,000 --> 00:19:58,159 Speaker 1: obscure French film that you know exactly exactly and so 334 00:19:58,359 --> 00:20:01,000 Speaker 1: and so you know that's it. That's hard to audit, 335 00:20:01,160 --> 00:20:05,960 Speaker 1: right and so, um so, given given their all around 336 00:20:05,960 --> 00:20:08,560 Speaker 1: the world, given the fact that there are subscription models, 337 00:20:08,680 --> 00:20:12,040 Speaker 1: I think that it's it's largely changing the business to 338 00:20:12,160 --> 00:20:17,399 Speaker 1: where um, you know, people have to really kind of adjust, 339 00:20:18,640 --> 00:20:21,520 Speaker 1: um to to to this new way of But now 340 00:20:21,560 --> 00:20:24,080 Speaker 1: there's great benefits to that too. There's way more content 341 00:20:24,160 --> 00:20:27,600 Speaker 1: being created, there's way more risk being taken. There's you know, 342 00:20:27,680 --> 00:20:29,639 Speaker 1: it doesn't have to be just as sort of like 343 00:20:29,680 --> 00:20:32,600 Speaker 1: a superhero or a comic book, you know based movie 344 00:20:32,920 --> 00:20:35,600 Speaker 1: or film. It's it's so many different types of movies 345 00:20:35,640 --> 00:20:38,480 Speaker 1: in series make. I mean, for as a as a 346 00:20:38,480 --> 00:20:41,400 Speaker 1: fan of film and TV, there's like more choice than 347 00:20:41,440 --> 00:20:44,800 Speaker 1: ever in that way. So there are there are great benefits. 348 00:20:44,800 --> 00:20:47,400 Speaker 1: And for a creator, you get the chance to make 349 00:20:47,720 --> 00:20:51,960 Speaker 1: squid games, you know, or or things like that. And 350 00:20:52,040 --> 00:20:54,679 Speaker 1: so where maybe you weren't you know, didn't have the 351 00:20:54,720 --> 00:20:57,400 Speaker 1: opportunity to make that and have it being seen all 352 00:20:57,440 --> 00:21:01,760 Speaker 1: around the world. So um, I think of it. To 353 00:21:01,840 --> 00:21:04,280 Speaker 1: finally answer your question that you were asking, I don't 354 00:21:04,320 --> 00:21:08,400 Speaker 1: look at our originals as any different than the other 355 00:21:08,440 --> 00:21:10,960 Speaker 1: films that we're doing as a as a vendor. It 356 00:21:10,960 --> 00:21:13,240 Speaker 1: would be it just would be happen to be that 357 00:21:13,280 --> 00:21:16,040 Speaker 1: we would own or develop that i P and kind 358 00:21:16,040 --> 00:21:19,120 Speaker 1: of be a little bit of a control our own destiny, 359 00:21:19,160 --> 00:21:21,760 Speaker 1: if you will, like, because then we can actually own 360 00:21:21,800 --> 00:21:25,240 Speaker 1: this i P development. It will be pitched to those 361 00:21:25,280 --> 00:21:28,280 Speaker 1: normal players. Right We don't plan on becoming on our 362 00:21:28,280 --> 00:21:31,600 Speaker 1: own studio or distributing our own content in that way. 363 00:21:31,640 --> 00:21:33,680 Speaker 1: I mean, that's certainly not on the docket right now. 364 00:21:33,960 --> 00:21:36,520 Speaker 1: But do you plan to fund it? Do you plan 365 00:21:36,600 --> 00:21:39,760 Speaker 1: to finance your own content? We definitely will finance the 366 00:21:39,760 --> 00:21:43,920 Speaker 1: development of the content. I would actually be happily happily 367 00:21:43,960 --> 00:21:46,480 Speaker 1: co financed the content. But I've met with many of 368 00:21:46,480 --> 00:21:49,840 Speaker 1: the studios and they are not interested at this point. 369 00:21:49,880 --> 00:21:51,920 Speaker 1: And that's what that that would be that tough deal 370 00:21:51,960 --> 00:21:55,840 Speaker 1: making environment I was referring to. Yeah, stuff now they're like, hey, 371 00:21:56,000 --> 00:21:58,720 Speaker 1: will you know, and so we love it, we'll take all. 372 00:21:58,840 --> 00:22:01,840 Speaker 1: We'll give you a little piece exactly exactly. And that's 373 00:22:01,880 --> 00:22:03,879 Speaker 1: part of the new world that I think that we 374 00:22:04,000 --> 00:22:07,720 Speaker 1: are living in and again and as has its um as, 375 00:22:07,760 --> 00:22:12,480 Speaker 1: its pluses and minuses. UM, but it's um. It is 376 00:22:12,520 --> 00:22:16,680 Speaker 1: where we are. And I do think that consumers, you know, 377 00:22:17,160 --> 00:22:19,280 Speaker 1: I want it right and I think that that's the 378 00:22:19,560 --> 00:22:22,200 Speaker 1: that's the high road that the streaming companies could take, 379 00:22:22,359 --> 00:22:25,040 Speaker 1: is that it clearly the consumers wanted, there's demand for this. 380 00:22:25,320 --> 00:22:27,479 Speaker 1: You've mentioned movies number of times. Are you looking at 381 00:22:27,560 --> 00:22:32,119 Speaker 1: movies and television or are you focused on the film business? 382 00:22:33,359 --> 00:22:35,360 Speaker 1: So we are. We are focused on film. We're also 383 00:22:35,400 --> 00:22:39,000 Speaker 1: focused on movies right now, but also series. But the 384 00:22:39,160 --> 00:22:42,520 Speaker 1: three things that we're looking at um that are sort 385 00:22:42,560 --> 00:22:46,399 Speaker 1: of currently in development are all feature films. I know 386 00:22:46,520 --> 00:22:49,560 Speaker 1: you mentioned that your partner in this venture is one 387 00:22:49,600 --> 00:22:53,560 Speaker 1: of your partners is Sean Parker. Yes, UM, who and 388 00:22:53,680 --> 00:22:56,160 Speaker 1: I know if I've got the right Sean Parker. Sean 389 00:22:56,320 --> 00:22:58,720 Speaker 1: was involved some years ago now in a venture in 390 00:22:58,760 --> 00:23:02,040 Speaker 1: Hollywood called The Screening Him, which was probably a little 391 00:23:02,080 --> 00:23:05,480 Speaker 1: ahead of its time, UM, in terms of an ability 392 00:23:05,560 --> 00:23:08,720 Speaker 1: to give people the um the you know, the ability 393 00:23:08,760 --> 00:23:10,600 Speaker 1: to watch a feature film in your home, to be 394 00:23:10,640 --> 00:23:13,200 Speaker 1: able to watch it on you know, premier weekend or 395 00:23:13,240 --> 00:23:16,960 Speaker 1: shortly thereafter it was. It was a bold venture. It 396 00:23:17,119 --> 00:23:19,320 Speaker 1: came it came up very quickly and it and it 397 00:23:19,480 --> 00:23:21,879 Speaker 1: did not take root in Hollywood. Can I ask you 398 00:23:22,080 --> 00:23:24,920 Speaker 1: did you learn from that experience where you I know 399 00:23:25,040 --> 00:23:26,800 Speaker 1: that if I understand right, you were part of you 400 00:23:26,880 --> 00:23:28,800 Speaker 1: were involved. Yeah, I was a founder. I was a 401 00:23:28,800 --> 00:23:31,760 Speaker 1: founder and CEO of that company, and Sean was a 402 00:23:31,800 --> 00:23:36,440 Speaker 1: founder and chairman. Um. And we had tremendous support from Hollywood. 403 00:23:36,960 --> 00:23:40,840 Speaker 1: It was a tremendous learning experience. Um. It's funny many 404 00:23:41,000 --> 00:23:43,400 Speaker 1: of the CEOs right at the beginning of the pandemic, 405 00:23:44,040 --> 00:23:46,520 Speaker 1: many of the CEOs of the studios I spoke to 406 00:23:46,720 --> 00:23:51,800 Speaker 1: after like kind of like April May, they all one 407 00:23:51,840 --> 00:23:53,800 Speaker 1: way or the other said they all wish they did 408 00:23:53,880 --> 00:23:58,000 Speaker 1: the deal then because certainly, and I agreed with them. 409 00:23:58,560 --> 00:24:02,280 Speaker 1: Um and uh, yeah, that was a that is the 410 00:24:02,320 --> 00:24:05,960 Speaker 1: same Sean Parker. Um. And although there was a weather 411 00:24:06,000 --> 00:24:10,440 Speaker 1: man named Shawn Parker and which is funny, but it's 412 00:24:10,720 --> 00:24:15,480 Speaker 1: but that's uh so I'm I'm I'm partnered with the 413 00:24:15,520 --> 00:24:19,639 Speaker 1: one who's not a weather man and uh and so 414 00:24:21,840 --> 00:24:25,800 Speaker 1: it was a tremendous learning experience for me for sure. Um. 415 00:24:26,080 --> 00:24:30,919 Speaker 1: We had so many false starts at screening room by 416 00:24:30,960 --> 00:24:34,280 Speaker 1: the way, UM made our way through the exhibitors, made 417 00:24:34,320 --> 00:24:36,399 Speaker 1: our way through the studios, and what we all, what 418 00:24:36,480 --> 00:24:41,880 Speaker 1: we ultimately wanted to do was just provide more opportunity 419 00:24:41,920 --> 00:24:44,159 Speaker 1: and more choice for the consumer, you know, and if 420 00:24:44,200 --> 00:24:45,719 Speaker 1: you pay the premium, you can watch it at all, 421 00:24:46,160 --> 00:24:48,159 Speaker 1: if you went to the theater and watched it. We 422 00:24:48,240 --> 00:24:51,760 Speaker 1: all love theater. And in fact, the irony of it 423 00:24:51,840 --> 00:24:55,280 Speaker 1: all is that we did sign term sheets with many exhibitors, 424 00:24:55,320 --> 00:25:00,080 Speaker 1: including many, you know, major exhibitors around the world, and 425 00:25:00,119 --> 00:25:02,120 Speaker 1: at one point we had one out of four screens 426 00:25:02,160 --> 00:25:04,280 Speaker 1: in the US and one out of ten worldwide signed 427 00:25:04,359 --> 00:25:08,160 Speaker 1: up with us because we did the thing that nobody 428 00:25:08,280 --> 00:25:11,159 Speaker 1: really would have thought of doing, uh and no one 429 00:25:11,280 --> 00:25:13,400 Speaker 1: certainly would have given us credit for doing it because 430 00:25:13,440 --> 00:25:17,080 Speaker 1: we're more disruptors looking is that we we made sure 431 00:25:17,119 --> 00:25:20,919 Speaker 1: the exhibitor were financially participating in and at home viewing. 432 00:25:21,080 --> 00:25:25,000 Speaker 1: So all we did was it was that model was 433 00:25:25,160 --> 00:25:29,000 Speaker 1: much like Uber how Uber makes any car into a 434 00:25:29,119 --> 00:25:33,160 Speaker 1: taxi or Airbnb makes any home into a hotel room. 435 00:25:33,400 --> 00:25:36,280 Speaker 1: We used our software hardware to turn any living room 436 00:25:36,600 --> 00:25:38,760 Speaker 1: into an a m C, or any living room into 437 00:25:38,800 --> 00:25:41,840 Speaker 1: a regal or AIM into it and so and shared 438 00:25:41,880 --> 00:25:45,080 Speaker 1: the economics just the same as if it was you know, 439 00:25:45,200 --> 00:25:49,040 Speaker 1: and allowed our hardware software to UM to for for 440 00:25:49,280 --> 00:25:51,280 Speaker 1: for the exhibitor for a m C and Regal and 441 00:25:51,400 --> 00:25:56,320 Speaker 1: others to expand without any capital expendature. And then we said, look, 442 00:25:56,520 --> 00:25:58,840 Speaker 1: there's not too many theaters in the world. We had 443 00:25:58,880 --> 00:26:01,600 Speaker 1: the countrarian view. We said, there's not enough. They're just 444 00:26:01,680 --> 00:26:04,640 Speaker 1: not in the right place, you know, because and let's 445 00:26:04,760 --> 00:26:07,120 Speaker 1: let's use this software to light up like an uber 446 00:26:07,240 --> 00:26:10,800 Speaker 1: or like a like the Airbnb example. Let's use our 447 00:26:10,880 --> 00:26:14,800 Speaker 1: software hardware to to create these home theaters. And if 448 00:26:14,840 --> 00:26:17,080 Speaker 1: we kept the economics the same which we were doing. 449 00:26:17,400 --> 00:26:19,879 Speaker 1: We had a lot of interest from from from studios, 450 00:26:19,960 --> 00:26:22,840 Speaker 1: but at the end of the day, one thing or 451 00:26:22,880 --> 00:26:26,320 Speaker 1: another would have would would would spook them, and unfortunately 452 00:26:26,400 --> 00:26:29,720 Speaker 1: we were victims of media leak that did not come 453 00:26:29,760 --> 00:26:35,040 Speaker 1: from us UM and UM and unfortunately that that made 454 00:26:35,080 --> 00:26:37,560 Speaker 1: it a public conversation, which made it a lot harder 455 00:26:37,640 --> 00:26:40,080 Speaker 1: to get to get the deals done. But little did 456 00:26:40,119 --> 00:26:44,920 Speaker 1: we know that a looming global pandemic was right around 457 00:26:44,960 --> 00:26:49,240 Speaker 1: the corner. Um that basically then greatly accelerated it to 458 00:26:49,359 --> 00:26:51,480 Speaker 1: the point to where the studios is did it on 459 00:26:51,560 --> 00:26:55,200 Speaker 1: the run, right, I recall it seemed like a cool idea, 460 00:26:55,760 --> 00:26:59,879 Speaker 1: but where anybody's interests might be threatened. Of course, Hackle 461 00:27:00,119 --> 00:27:03,200 Speaker 1: get raised and and you mentioned the media leak, which 462 00:27:03,200 --> 00:27:06,440 Speaker 1: I do believe was a variety. Yeah it was. It 463 00:27:06,600 --> 00:27:11,480 Speaker 1: was real, Uh doing our jobs. Yeah, he's a I 464 00:27:11,520 --> 00:27:13,600 Speaker 1: mean I begged him not to do it. He said, listen, 465 00:27:13,640 --> 00:27:15,000 Speaker 1: if I don't do what someone else is going to, 466 00:27:15,480 --> 00:27:17,560 Speaker 1: which is true. I get it. I get it. I 467 00:27:17,640 --> 00:27:20,920 Speaker 1: still like on the f X side of your business 468 00:27:21,119 --> 00:27:24,480 Speaker 1: coming out of the pandemic, both the pandemic conditions and 469 00:27:24,680 --> 00:27:28,560 Speaker 1: the incredible leaps forward that we've been seeing with virtual 470 00:27:28,680 --> 00:27:33,600 Speaker 1: reality a r AI, all the acronyms of just there's 471 00:27:33,680 --> 00:27:36,520 Speaker 1: so much innovation going on at such a high rate. 472 00:27:36,840 --> 00:27:41,159 Speaker 1: Are you seeing Are you seeing like big productivity and 473 00:27:41,280 --> 00:27:44,959 Speaker 1: technology gains in the FX world at this time? Oh? 474 00:27:45,080 --> 00:27:49,280 Speaker 1: Absolutely absolutely. I mean probably the biggest thing that are 475 00:27:49,320 --> 00:27:52,720 Speaker 1: affecting UM effects right now is going to be artificial 476 00:27:52,760 --> 00:27:57,440 Speaker 1: intelligence and machine learning AI and m L and automating 477 00:27:58,200 --> 00:28:00,439 Speaker 1: a lot of the things. You'll never take the genius 478 00:28:00,480 --> 00:28:04,000 Speaker 1: out of the creative, You'll never take that artist touch 479 00:28:05,640 --> 00:28:08,400 Speaker 1: out of the equation, but you can get that artist 480 00:28:08,520 --> 00:28:12,320 Speaker 1: to that point a lot faster with you know, with 481 00:28:12,560 --> 00:28:17,159 Speaker 1: with you know, sort of machine learning and artificial intelligence. 482 00:28:17,160 --> 00:28:20,440 Speaker 1: So I think that's a very that's an accelerator, that's 483 00:28:20,440 --> 00:28:24,199 Speaker 1: a disruptor, and that's going to be very, very UM 484 00:28:24,400 --> 00:28:27,200 Speaker 1: important over the next three to five years. In VFX 485 00:28:27,680 --> 00:28:29,800 Speaker 1: in a R you mentioned a R and v R two. 486 00:28:30,280 --> 00:28:34,320 Speaker 1: Those are also disruptive, even positive, you know, fashion for filmmaking. 487 00:28:34,440 --> 00:28:40,680 Speaker 1: For example, UM, we are using Microsoft UM hollow lens, 488 00:28:41,720 --> 00:28:47,000 Speaker 1: which are the their their gargles UM to to do 489 00:28:47,280 --> 00:28:50,680 Speaker 1: remote location scouting. You know, you can actually put those 490 00:28:50,800 --> 00:28:53,280 Speaker 1: on and look around. It saves so much time and 491 00:28:53,520 --> 00:28:57,840 Speaker 1: energy and environmental impact and everything you can imagine, UH 492 00:28:58,080 --> 00:29:00,600 Speaker 1: is speeding up the process. We're also using a R 493 00:29:01,120 --> 00:29:05,840 Speaker 1: on set, so we're to help filmmakers visualize a set 494 00:29:05,960 --> 00:29:08,360 Speaker 1: or a scene. We can use iPads to actually have 495 00:29:08,560 --> 00:29:11,440 Speaker 1: an A R experience through there so they can actually 496 00:29:11,560 --> 00:29:16,360 Speaker 1: see what UM the virtual environment they're they're looking to create. 497 00:29:16,480 --> 00:29:19,120 Speaker 1: So you see an a R on set, you see 498 00:29:19,200 --> 00:29:24,080 Speaker 1: VR UM in location scouting anywhere in the world. Using 499 00:29:24,120 --> 00:29:29,800 Speaker 1: those UM and certainly VFX in particular UM a whole 500 00:29:29,920 --> 00:29:32,200 Speaker 1: new general it's gonna be generation three dot oh no, 501 00:29:32,440 --> 00:29:36,040 Speaker 1: I think it's gonna the whole pipeline is going to 502 00:29:36,280 --> 00:29:40,720 Speaker 1: change UM and the people are going to be the 503 00:29:40,800 --> 00:29:43,040 Speaker 1: winners and that are the ones who are embracing AI 504 00:29:43,120 --> 00:29:46,440 Speaker 1: and m L Are you and I mean, are you 505 00:29:46,560 --> 00:29:48,720 Speaker 1: find do you find lots of practical It sounds like 506 00:29:48,760 --> 00:29:52,160 Speaker 1: you're finding lots of practical applications for these technologies and 507 00:29:52,480 --> 00:29:57,440 Speaker 1: in your work completely completely absolutely and UM. I think 508 00:29:57,520 --> 00:30:01,800 Speaker 1: also as we talked about the the pandemic accelerating windows 509 00:30:02,400 --> 00:30:05,400 Speaker 1: over there, I think the pandemic has accelerated the use 510 00:30:05,480 --> 00:30:08,760 Speaker 1: of these UM technologies as well. I think they were 511 00:30:09,120 --> 00:30:12,080 Speaker 1: they were kind of there already. But if you can't 512 00:30:12,120 --> 00:30:15,920 Speaker 1: get on a plane to do to do something, uh, 513 00:30:16,120 --> 00:30:18,760 Speaker 1: and you can't, you know, then then maybe you use 514 00:30:18,800 --> 00:30:21,200 Speaker 1: the Microsoft Hallow lens to kind of like you know, 515 00:30:21,360 --> 00:30:25,520 Speaker 1: beam in and and have those And I think obviously, 516 00:30:25,640 --> 00:30:27,680 Speaker 1: you know a lot of you know, obviously, in the 517 00:30:27,760 --> 00:30:29,880 Speaker 1: worst in the in the height of it, a lot 518 00:30:30,040 --> 00:30:33,440 Speaker 1: so many companies had to shut down product television production 519 00:30:33,480 --> 00:30:36,800 Speaker 1: companies came back online and had people, you know, doing 520 00:30:37,280 --> 00:30:40,080 Speaker 1: all remote post production. Do you think that any of 521 00:30:40,160 --> 00:30:42,680 Speaker 1: that as we hopefully start to get out of these 522 00:30:43,360 --> 00:30:45,920 Speaker 1: you know, these really intense pandemic conditions. Do you think 523 00:30:45,960 --> 00:30:48,600 Speaker 1: any of that will be any of those innovations that 524 00:30:48,720 --> 00:30:51,360 Speaker 1: were born out of necessity and pandemic times will be 525 00:30:51,520 --> 00:30:54,880 Speaker 1: long lasting in the industry and drive those you know, 526 00:30:54,960 --> 00:30:59,440 Speaker 1: the kind of productivity games without question, there's without question. 527 00:30:59,520 --> 00:31:01,920 Speaker 1: And in fact, we you know, we have over two 528 00:31:01,960 --> 00:31:03,960 Speaker 1: thousand people at webther now, so we'll do we do 529 00:31:04,040 --> 00:31:07,000 Speaker 1: a lot of we we we we talked to our 530 00:31:07,400 --> 00:31:09,560 Speaker 1: team a lot and you know, a lot of the 531 00:31:09,640 --> 00:31:15,080 Speaker 1: things that we've made available UM technologies and choices to 532 00:31:15,200 --> 00:31:23,400 Speaker 1: work remotely, UM are overwhelmingly um uh overwhelming. Is that 533 00:31:23,560 --> 00:31:25,880 Speaker 1: is the demand to keep that going even post pandemic, 534 00:31:25,960 --> 00:31:28,080 Speaker 1: whether that be the choice of kind of a hybrid 535 00:31:28,120 --> 00:31:30,560 Speaker 1: workspace where you can be at home or in in 536 00:31:30,880 --> 00:31:34,120 Speaker 1: the office or in the studio. UM. A lot of 537 00:31:34,200 --> 00:31:37,240 Speaker 1: these technologies I think are here to stay, and I 538 00:31:37,320 --> 00:31:39,720 Speaker 1: think they've made leaps and bounds and technology in the 539 00:31:39,800 --> 00:31:42,760 Speaker 1: development of them as well, so and I think they should. 540 00:31:43,160 --> 00:31:49,720 Speaker 1: I think ultimately it it attacks the one killer of filmmaking, 541 00:31:49,760 --> 00:31:52,320 Speaker 1: which is time. You know, it just takes so much 542 00:31:52,440 --> 00:31:57,000 Speaker 1: time to do things. And if you can decrease that, UM, 543 00:31:57,480 --> 00:32:01,720 Speaker 1: you you basically benefit all other aspects of it. You know, 544 00:32:01,840 --> 00:32:05,480 Speaker 1: it's less money, is less complex, it's you know and 545 00:32:05,800 --> 00:32:09,000 Speaker 1: UM and obviously get turnarounds faster. So I think part 546 00:32:09,040 --> 00:32:11,640 Speaker 1: of that is gonna be remote compute as well. So 547 00:32:11,840 --> 00:32:15,080 Speaker 1: you have a lot of cloud providers UM like AWS 548 00:32:15,160 --> 00:32:18,640 Speaker 1: and Microsoft Azure providing compute power all around the world, 549 00:32:18,720 --> 00:32:21,200 Speaker 1: so you could do these renderings in the cloud now, 550 00:32:21,440 --> 00:32:24,240 Speaker 1: and so your staff can really be you can have 551 00:32:24,400 --> 00:32:29,560 Speaker 1: what's essentially distributed workforce and distributed compute UM. That's definitely 552 00:32:29,640 --> 00:32:39,080 Speaker 1: going to be part of the future. Thanks for listening. 553 00:32:39,680 --> 00:32:42,080 Speaker 1: Be sure to leave us a review at Apple Podcasts, 554 00:32:42,720 --> 00:32:45,200 Speaker 1: and please go to Variety dot com to sign up 555 00:32:45,280 --> 00:32:48,920 Speaker 1: for our free Strictly Business newsletter, and please tune in 556 00:32:49,040 --> 00:32:58,080 Speaker 1: next week for another episode of Strictly Business. 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