Phantom Digital Effects Ltd announced they signed a Resource Planning Agreement with Netflix comprising of a work order worth Rs 120 cr. Details are as follows:
Significant terms of the agreement: The Company shall ensure that it has the following dedicated resources and capacity to provide visual effects services (“Services”) on Assigned Projects in an amount equal to the Dedicated Spend through the Term of this Agreement:
a. VFX artists, VFX supervisors, VFX producers, and other Contractor personnel necessary to perform Services on Projects (collectively, “Talent”);
b. Organizational support, including recruitment and human resources;
c. Dedicated strategic pre-production planning, workflow consultation, expenses, and logistics;
d. First Priority access to technology (e.g., Shotgrid), operations, and finance teams; and
e. First Priority access to visual effects infrastructure and equipment (“Infrastructure”) and infrastructure support, including necessary proprietary or licensed software, short-term storage, render, and equipment.
Time Period: Four years with extension of further Two years upon agreement between parties to complete the project.
For a brief review of company’s Q4 results, click here.
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