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The animation industry faces a crisis due to overspending and overproduction of content compared to demand. Due to its high cost and long production time, the animation industry saw a 40% decline in global productions in Q2 2024 compared to Q2 2022.
Unemployment in the entertainment industry soared to 12.5% in August 2024, with some estimating the actual number as high as 75%.
Studios are outsourcing animation work to cheaper countries like South Korea and China, risking copyright infringement to save money.
The 20% decline in global productions is partly attributed to the increased demand for kdramas from networks like Netflix and Hulu.
The 2023 writers’ strike marked the first time since the 1960s that both writers and actors united, shutting down Hollywood production for multiple months.
The strikes allowed studios to pause production and claim poverty, leading to mass layoffs in the animation industry.
Four out of 10 visual development artists from recent productions are currently on unemployment.
Animation studios are outsourcing work to Vancouver and Taiwan, despite union attempts to negotiate better conditions.
The animation industry is experiencing a war of attrition, with those able to financially hold out the longest having the best chances of success.
Having skills in unrelated fields can provide a safety net for animation professionals during industry slowdowns.
High-profile flops like Transformers: The Last Knight are contributing to the downplaying of the animation industry, with even Pixar laying off employees.
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