PNN
Mumbai (Maharashtra) [India], August 22: Digikore Studios Limited (NSE - DIGIKORE), specialized in delivering Visual Effects for a diverse range of projects, announce a major milestone in Digikore's journey, having secured a USD 1.2 million (Rs 10 crore) order to provide VFX and Virtual Production services for a prominent American OTT series. This achievement represents a significant leap forward in Digikore's strategic expansion into the U.S. market, reinforcing its position as a premier VFX partner for the world's top entertainment companies.
A Major Step in American Expansion
This deal follows a series of targeted efforts by Digikore's Los Angeles-based team, which includes several industry veterans who have brought invaluable expertise and networks to the table. Their deep understanding of the U.S. entertainment landscape was instrumental in securing this prestigious project, demonstrating Digikore's growing credibility and appeal among leading content creators in the region.
Project Overview and Execution Strategy
The project is scheduled to kick off in early to mid-October 2024, with the final delivery expected by the end of February 2025. Given the scale and complexity of the series, this contract will require a robust collaboration between teams in North America and India. Digikore's Los Angeles and Montreal offices will work in close tandem with highly skilled team in Pune, India, ensuring that every aspect of the project meets the highest standards of quality and creativity.
To facilitate this cross-continental collaboration, Digikore will leverage its sophisticated global pipeline and VFX workflow structure. This advanced system has been meticulously developed to support seamless communication and workflow integration across multiple time zones, enabling us to deliver world-class VFX work efficiently and effectively.
Direct Contract and Strategic Advantages
One of the standout aspects of this contract is that it is a direct agreement between Digikore and the OTT platform. This is particularly significant as it mitigates the challenges associated with longer receivables that are often encountered in indirect contracts. By securing direct contracts, Digikore not only strengthens its financial position but also fosters closer, more collaborative relationships with clients. This strategy is central to company's long-term vision of expanding footprint in the U.S. market, where the demand for high-quality VFX is burgeoning.
Moreover, this contract exemplifies company's hybrid delivery model, which utilizes the collective capabilities of all three of Digikore's offices--Los Angeles, Montreal, and Pune. This model not only enhances operational efficiency but also maximizes the creative and technical resources available to us, ensuring that we can take on larger, more complex projects with confidence. As we continue to refine this model, we anticipate further successes in securing and executing large-scale VFX projects across the globe.
Commenting on the achievement, Abhishek More, Managing Director of Digikore Studios Limited said, "Securing this order is a testament to our team's relentless dedication and the robust global infrastructure we have built at Digikore. It marks a significant step forward in our strategy to strengthen our footprint in the American market while delivering exceptional value to our clients. Our global pipeline not only ensures consistency and quality but also allows us to harness the unique strengths of each regional team, making it possible to meet the demanding timelines and creative expectations of our clients.
This order is just one of several key projects we are currently bidding on, with multiple marquee contracts on the horizon, each featuring substantial VFX budgets. The momentum we are building in the U.S. market is a clear indicator of the effectiveness of our strategic initiatives. By focusing on securing direct contracts and optimizing our global delivery model, Digikore is well-positioned to become a leading player in the international VFX industry.
We remain committed to pushing the boundaries of creativity and technology in VFX, and this project will undoubtedly be a showcase of our capabilities."
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