Leading film camera company Arri is looking to be sold by its owners, according to a Bloomberg report. The camera company was founded in 1917 by August Arnold and Robert Richter and has won 20 Oscars in the camera engineering category. The report says Arri Group is looking to sell the company due to the changing landscape of filmmaking and series post-pandemic which has caused financial issues.
Arri Group has already sold a subsidiary that sells its lighting equipment to restore cash flow. It is currently using AlixPartners to streamline its business operations, with a decision to sell the company not yet finalized.
As a company with a big name and undeniable camera technology pedigree, it should have no problem finding a buyer. At the same time, the changing landscape of the film world does not guarantee a bright future. Cheaper cameras and the use of AI will erode the need for productions using flagship equipment like Arri in the near future.