88 Pictures

What 88 Pictures does

88 Pictures is a Mumbai-headquartered visual imagery and content production company founded in 2016 by Milind D. Shinde, a former DreamWorks Animation and Oriental DreamWorks executive. It operates as a B2B animation and VFX studio delivering full-service production — from art and pre-production through CG assets, animation, lighting, compositing, and final delivery — for feature films, television series, streaming content, and commercials. The studio runs three operational pillars: Animation Services (entertainment content for global platforms), 88VFX (visual effects for Bollywood and international productions as well as advertising), and 88 Games (a gaming division launched in November 2024 that develops story-driven games inspired by Indian mythology and cultural heritage). It has offices in Mumbai, Bengaluru, and Hyderabad in India, and in Toronto, Canada (opened June 2023).

The studio's client roster is concentrated among major global entertainment companies including DreamWorks Animation, Netflix, Warner Bros Animation, Lucasfilm/Disney+, Nickelodeon, and Gaumont, and it holds the distinction of being the first Indian studio to create animated content for the Star Wars franchise ('The Bandits of Golak' for Star Wars: Visions Volume 2). It is also a co-production partner on the Baahubali: The Eternal War animated feature with Arka Mediaworks. Revenue is generated primarily through project-based professional-services contracts for animation and VFX work, with newer licensing/royalty exposure through 88 Games. Pricing is not publicly disclosed. The company is privately held and founder-led, with no external venture capital, private equity, or parent-company ownership disclosed in available materials; it has grown from 8 employees in a 120 sq ft loft to roughly 500+ artists across four cities, supported by talent-development programs such as Gurukul (internal training) and Paathshala (Tier 2/3 city recruitment).

Name

88 Pictures

Legal name

88 Pictures

Website

https://88.pictures

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

88 Pictures is a Mumbai-based animation and VFX studio founded in 2016, serving global entertainment clients including DreamWorks, Netflix, Warner Bros, and Lucasfilm with full-service production across animation, VFX, and gaming.

Ownership category

akta.pro rank

Product category

Animation & Visual Effects Services

NAICS

Motion Picture and Video Production (512110)

SIC

Services-Motion Picture & Video Tape Production (7812)

akta.pro industry

PRIMARYMPADAHAF

Animation Services for VFX (Creature/Character, Crowd, Simulation Support)

Media, Entertainment & Sports/Film & Video Production/Distribution/VFX & Virtual Production

SECONDARYMPAHABAB

VFX Production & Shot Work (CG Integration, Matte Painting, FX)

Media, Entertainment & Sports/Media Technology & Services (Post-Production, VFX, Animation, Streaming Infrastructure)/Visual Effects (VFX) & Compositing

SECONDARYMPAFAKAM

Outsourced Art/Audio Production Services (2D/3D, Animation, VFX, Audio/VO)

Media, Entertainment & Sports/Gaming & Interactive Entertainment (Video Games, Esports)/Gaming Operations & Services (QA, Localization, LiveOps, Customer Support)

SECONDARYMPAHABAA

VFX Supervision & On-Set VFX Services

Media, Entertainment & Sports/Media Technology & Services (Post-Production, VFX, Animation, Streaming Infrastructure)/Visual Effects (VFX) & Compositing

SECONDARYMPAAAMAC

VFX & Motion Graphics (CGI, Compositing, 2D/3D)

Media, Entertainment & Sports/Advertising, Marketing & PR Services/Production Services for Advertising (Commercial Production, Post)

Keywords

• Animation production services
• Visual effects services
• CGI animation
• Game development
• Pre-production art

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Animation Services: Provides animation production services for feature films, TV series, and streaming content to major studios. Revenue generated through project-based contracts for co-productions and service work.
2. VFX Services: Visual effects work for Bollywood films and international productions, including shoot supervision, previz, asset build, FX, camera/object match move, layout, lighting, compositing, roto, concept art, and matte painting.
3. Game Development (88 Games): Immersive, story-driven gaming experiences inspired by Indian culture, heritage, and mythology. New division launched in November 2024.
4. Commercial VFX: VFX work for television commercials including animated TVCs for clients like PNB Housing Finance.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

88 Pictures is a B2B visual imagery and content production company providing end-to-end animation production services, comprehensive visual effects (VFX) work, and game development for major global entertainment studios and Indian film producers. Its three operating divisions — Animation Services, 88VFX, and 88 Games — deliver projects ranging from CG feature and episodic animation to film VFX and story-driven games rooted in Indian mythology.

Product overview

88 Pictures is a visual imagery and content production company founded in 2016, offering three core service divisions: Animation Services (for feature films, TV series, and streaming content), 88VFX (comprehensive visual effects services), and 88 Games (game development). The company also provides Art & Pre-Production services and runs talent development programs (Gurukul and Paathshala) for employee training. The studio works with major global studios including DreamWorks Animation, Netflix, Disney, Warner Bros., and Lucasfilm, delivering end-to-end production services across animation, VFX, and gaming.

Differentiator

Problem solved

Functional benefit

Brands

• 88 Games: Game development division of 88 Pictures focused on creating immersive, story-driven gaming experiences inspired by Indian mythology and cultural heritage.
• 88VFX

Products and services

• Animation Services Full-service animation production including CG assets, animation, lighting, compositing, and final delivery for feature films, TV series, and streaming content, sold to major entertainment studios on a co-production and service basis.
• 88VFX Visual effects division providing shoot supervision, previz, asset build, FX, camera/object match move, layout, lighting, compositing, roto, concept art, and matte painting for films, streaming content, and TV commercials.
• 88 Games Game development division creating immersive, story-driven games rooted in Indian mythology and cultural history, featuring characters and settings inspired by Indian folklore and literature for global gaming audiences.
• Art & Pre-Production Pre-production creative services including concept art, storyboarding, and creative development for animation and content projects, sold to entertainment studios as a standalone engagement or bundled with full production.
• Animated TVC / Commercial Production Animated television commercial production service for brand and advertising clients, with credits including the PNB Housing Finance 'SurprisinglyEasy' Penguin, Elephant, and Chimps TVCs.

Quantifiable outcome

• First Indian studio to produce animated content for Star Wars franchise
• +2 more outcomes

Named customers14 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core and secondary.

• Arka MediaworkscoreStrategic or Co-development Partner · 25 June 2026Co-production partner for Baahubali: The Eternal War animated feature, presenting at France's Annecy Animation Festival. This is a major expansion of the Baahubali franchise into animation.
• Alcyde (France)coreStrategic or Co-development Partner · 25 June 2026French co-production partner for Baahubali: The Eternal War animated feature.
• Zaratan (UK)secondaryStrategic or Co-development Partner · 25 June 2026UK-based co-production partner for Baahubali: The Eternal War.
• Aniventure (UK)secondaryStrategic or Co-development Partner · 25 June 2026UK-based co-production partner for Baahubali: The Eternal War.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Makuta VFX: India-based VFX studio known for work on Baahubali and other major Indian and international films. Directly comparable to 88VFX on Bollywood VFX and co-production services.
• Prana Studios: India-based animation studio that previously employed 88 Pictures' COO Aby John for 14 years. Closest historical/operational comparable — Indian animation services for Hollywood franchises including Disney.
• Toonz Animation: India-headquartered animation and gaming studio with global project delivery. Comparable business model of outsourced animation for Western studios plus original IP development.
• Cosmos-Maya: India-based animation studio producing both international co-productions and original IP (e.g., Selfie with Bajrangi). Comparable to 88 Pictures in combining services work with owned-IP ambitions.
• Green Gold Animation: Indian animation studio behind Chhota Bheem and other Indian IP. Comparable in building original Indian animation IP while also executing services for global clients.
• Assemblage Entertainment: India-rooted animation studio (Bengaluru) producing animated features and series for international clients including Netflix. Directly comparable to 88 Pictures on full-service animated series delivery for global streamers.

Broad incumbents

• DNEG: Global VFX and animation powerhouse with significant India operations. Directly competes with 88 Pictures' VFX division on feature and streaming VFX work for major studios; comparable in serving Hollywood and Indian film clients at scale.
• Framestore: Global VFX and animation studio with presence in India and the UK. Comparable to 88 Pictures in delivering VFX and animation for major streaming and theatrical franchises.
• Industrial Light & Magic (ILM): Lucasfilm's VFX arm and a direct customer of 88 Pictures on Star Wars: Visions. Operates India-based production capacity and competes for animation/VFX work on premium franchises.
• Tata Elxsi: Listed Indian technology services firm with a media and animation practice serving global OTT and broadcast customers. Comparable in delivering India-based animation/VFX services to global entertainment buyers at scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@88pictures67
• Facebookfacebook.com/people/88-Pictures/100066619906229/?mibextid=ZbWKwL
• LinkedInlinkedin.com/company/88-pictures-limited
• Instagraminstagram.com/88.pictures

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 88 Pictures