The Visual Effects Sector in 2017: Consolidating Economic Benefits

This morning the Quebec Film and Television Council (QFTC) released the 2017 economic indicators for contracts in the visual effects sector, collected by the firm KPMG. With an estimated $262 millions in contracts for 166 local and foreign projects, the sector is levelling off close to the 2016 record of an estimated $278 million.

Quebec studios crafted over 18,400 VFX shots for a number of large-scale film productions, including Blade Runner 2049 (winner of the Oscar for best visual effects in March 2018), Star Wars: The Last Jedi, Valerian and the City of a Thousand Planets and Hochelaga, terre des âmes.

The news was announced by Pierre Moreau, QFTC Chief Executive Officer, while introducing the QFTC panel during Effects MTL. This panel brought together four foreign producers who had come to meet Quebec studios as part of the 4th QFTC VFX tour, one of the many activities the Council organizes that contributes to the audiovisual industry’s economic development.

“The sector had a 27% annual growth rate from 2009 to 2016. This year confirmed the stability of the ecosystem, as once again the sector saw an almost record number of contracts. This ecosystem is one of the most creative and successful on the planet and offers many opportunities to more than 2,600 Quebec professionals,” said Pierre Moreau.

Émilie Dussault, General Manager at MPC Film, added that “Quebec has successfully established itself in the top tier of the global visual effects industry thanks to its innovative expertise, technical schools, renowned and talented artists, and competitive and reliable economic incentives. The challenge remains to supply the workforce needed to continue this incredible growth.”

The QFTC expects that the continuation of expansion projects and the arrival of new studios in Quebec will mean the return of contract growth for 2018.