Paris (France), March 26, 2024 - Technicolor Group, the new holding company for Technicolor Creative Studios SA's business activities, unveils its strategic framework designed to capture emerging business opportunities and pave the way for sustainable growth.A new holding company with a sound financial position
In an ever-evolving market landscape, the lenders and shareholders have taken the initiative to strengthen the financial position of Technicolor Creative Studios SA's business activities - MPC, The Mill, Mikros Animation, Technicolor Games - by providing an injection of new money and ensuring a moderate level of indebtedness.
This initiative involved a corporate reorganization under a new holding company, Technicolor Group, without any impact on business activities.
This strategic move sets the stage for a resilient future, igniting the Group's drive for innovation and expansion. In a sound financial position, the Group can now fully focus on implementing its strategy.
A strategy for sustainable growth focused on three pillars: Talent, Technology and Service Expansion
Over the past few months, the media and entertainment industry has been undergoing a period of rapid transformation, disrupted by technological developments - such as Artificial Intelligence, machine learning, virtual reality, etc. -, shifting consumer preferences and emerging opportunities in new geographical markets. On top of these evolutions, the historic double writers and actors strike in Hollywood had a tangible impact on the sector as a whole. All this has been creating a new paradigm for content creation, which also brings opportunities the Group intend to seize.
In this context, the Group has been undergoing a deep internal transformation to better serve its clients, further improve working environments for talents and be optimally positioned for the future. While ensuring the smooth continuation of this transformation, the leadership team will implement a strategy which focuses on three pillars: talent, technology and service expansion.
A people first business
At the heart of Technicolor Group lies a commitment to cultural transformation, empowering its workforce, and fostering innovation. The leadership team is committed to driving a people-centric culture, moving more in line with the Group's values while enhancing talent engagement and ensuring attraction and retention in a post pandemic era with renewed vigor. In 2023, the management team has created the scaffolding to overcome the obstacles of the Covid and strike periods and have put in place the growth vectors for the next phase in the media and entertainment industry. Bolstered by a fresh purpose and a new set of values - collaboration, transparency, trust, creativity, and passion - Technicolor Group is poised to thrive in the evolving landscape of media and entertainment.
Pioneering innovation and technological advancement
Technicolor Group will boost its journey towards pioneering innovative technologies in the creative industry. Managing technological shifts and offering new cutting-edge solutions were always a central hallmark of the Group's success. Today, new technological advancements like artificial intelligence, machine learning or virtual and augmented reality are revolutionizing the industry, shaping the way entertainment is created, distributed, consumed, and experienced. As Chief Technology Officer, Bill Polson will focus on:
Prioritizing Technology Platforms moving the Group's production platform to webservices.
Empowering Artists giving artists the ability to work across disciplines and across a larger part of each project; and giving them more powerful AI-backed tools.
Fostering synergy between Technology and Creative introduction of senior technology managers for each business unit to tighten the connection between these two vital aspects, which in turn will drive more innovation.
Expanding horizons and embracing opportunities
The Group will be enriching its activities to seize business opportunities. The Group will expand its global footprint by investing in regions with burgeoning potential in visual effects. From Europe to the Middle East and the Asia-Pacific, the Group is charting new territories, leveraging India and South Korea as gateways to untapped markets.
The Group also intends to broaden its expertise and encompass the entire spectrum, including production and pre-production in films, episodic and animation.
The Group will elevate its value proposition by expanding its service offering into innovative verticals and emerging business sectors.
A strong leadership team to drive the Group on its journey ahead
Technicolor Group benefits from a strong leadership team to navigate the next phase of the Group's development. Along with seasoned corporate executives, the management team is comprised of industry experts, artists and technicians in the computer graphics enabled imagery creation business such as:
Bill Polson, Chief Technology Officer, steering the Group's technology strategy and innovative technologies to the forefront of the creative industry.
Andrea Miloro, President of Mikros Animation and Chief Business and Strategy Officer Mikros and MPC, developing and growing both Brands.
Mark Benson, President of The Mill, building on the creative and innovative reputation of a partner to the world's leading agencies and brands.
Andy Emery, President of Technicolor Games, developing the Group's gaming business at a time of increasing demand for higher quality graphics.
Jean-Paul Burge, Chief Commercial Officer, leading, developing and implementing the Group's commercial strategies and partnerships.
Biren Ghose, Managing Director for the Asia Pacific (APAC) region including Technicolor India, bringing synergy to business activities in this dynamic regio
