The Hollywood Reporter and Wall Street Journal are reporting that Digital Domain's IPO -- its "initial public offering" in which it tried to sell stock to the public -- failed to meet its asking price, and the Los Angeles Times says the offering may be withdrawn.
Independent film companies have often found it difficult to go public, especially if they don't have product of their own. For all its well-earned success an an effects house, DD remains a "job shop", with relatively little to offer investors.
This probably doesn't mean that DD employees will be looking for new jobs, especially with upcoming blockbusters such as Speed Racer to their credit.
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7 comments:
"doesn't mean DD employees will be looking for new jobs..."
That's only true for the few full time employees, but for the most part, the rest will be looking for new jobs. DD sucks as a studio.
R.
No surprise here. Unlike Pixar, they own no content, or even have a record of producing content. They're a service provider. Too many visual effects producers and supervisors--not enough film makers. They're gearing up to outsource like everyone else. If only they would hire film makers and support them to make ORIGINAL films.
They also have a terrible reputation with vendors and employees.
Hey Steve
What does it take to get guild benefits at DD , R&H and other VFX studios ?
I can fill in my rep card , but with short term gigs being the norm at these studios it may be difficult to get enough cards of current employees to get anything off the ground.
This sounds like a job for Business Rep, disguised as mild-mannered Steve Hulett.
He'll be back on Thursday, I'll bookmark your questions for him.
I recall a woman who was a DD visual effects producer for Titanic came to the local college to give a lecture and clip show on the work done for that film.
During the audience Q&A afterward one man noted that she had raved about the extrememly young ages of the workers at her shop and asked if there was really any place in the industry for some one who might be say, over 30?
"well, of course we would NEVER discriminate against someone based on their age", she replied but continued in the same breath with the fact that she doubted "anyone over 30 could keep up with the pace of what we do", which I thought was a really shi**y attitude since she was obviously WAY over 30 herself.
"well, of course we would NEVER discriminate against someone based on their age", she replied but continued in the same breath with the fact that she doubted "anyone over 30 could keep up with the pace of what we do", which I thought was a really shi**y attitude since she was obviously WAY over 30 herself.
Wow. You KNOW what she meant was "I doubt anyone over 30 with a LIFE and life experience would put up with our outrageous breakback hours, relatively low pay and no decent benefits".
Digital Domain is a shell of a company. All the good talent and management are long gone. It is now run by greedy opportunists that don't realize that in this industry the most valued commodity is artist. Their artist's are lucky to be given a parking spot at work, while the executives are pulling $500k salaries. That's shameful.
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