Nelvana one of Canada's prominent animation studios had ended production. Established in 1971, the studio produced a number of animated series and films. Corus Entertainment amassed immense debt. This was Nelvana's parent company since the year 2000. Between that year of purchase to 2025, $1,000,000,000 of debt was created. No explanation was given for how that debt emerged. The speculation is that funds were wasted, went to executives, or used for failed projects. What happened to Nelvana is a warning to other animation studios. The actions of the parent company tend to harm the subsidiaries. Nelvana was not producing low quality work, but mismanagement . Corus Entertainment might not exist in a few decades if debt can not get under control. The entertainment industry is still adjusting to streaming and the changing consumption habits of viewers. Corus Entertainment did not mention layoffs when speaking with the press. Those who work in animation or seeking to begin a career are struggling. What becomes more questionable is the amount of bonuses executives were paid. A serious discussion about executive bonuses never takes place. Never do they offer to take a cut in bonuses to prevent the company failing or to contribute to debt payments. Nelvana would have survived if it was not owned by another company. Corus Entertainment's solution to the debt concerns is to manage existing properties. Corus Entertainment insists the Nelvana brand will remain, but production of new content has ended. Canadian animators are going to have to find work at another animation studio or go abroad.
No comments:
Post a Comment