The visual-effects industry is in tumult.
Shrinking profit margins and studios' thirst for foreign subsidies have decimated the business, particularly in Southern California, and pushed more than a half-dozen companies into financial ruin in the last few years.
Last month, the Oscar-winning visual-effects company Rhythm & Hues became the latest victim of this fierce competition and was forced to file for Chapter 11 protection. Its failure has set off a period of intense soul-searching across the visual-effects community.
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