Annapurna Pictures laid off approximately 30 employees on Wednesday, TheWrap has learned.
The independent entertainment and media company reduced its workforce due to “shifting market conditions” as it attempts to meet the changing landscape, a spokesperson shared. Impacted employees are being supported through the transition.
Founded in 2011 by Megan Ellison, brother of embattled Skydance/Paramount head David Ellison and son of Oracle billionaire Larry Ellison, Annapurna was once seen as a shining beacon for independent film, known for its lavish spending and impeccable taste. (In many ways, Annapurna cornered a market later perfected by A24 and NEON.)
Annapurna famously funded projects like Kathryn Bigelow’s “Zero Dark Thirty,” Paul Thomas Anderon’s “The Master,” Spike Jonze’s “Her” and Bennett Miller’s “Foxcatcher.” They also produced Olivia Wilde’s “Booksmart,” Lorene Scafaria’s “Hustlers” and two Richard Linklater projects (“Everybody Wants Some!!” and “Where’d You Go, Bernadette”). Ellison and Annapurna were seen as patrons of the arts as much as they were big time film producers.
But in recent years their output on the film side has slowed down considerably; the company’s 2026 slate consists of co-producing just two movies – Wilde’s “The Invite” (distributed by A24) and Boots Riley’s “I Love Boosters” (released by NEON). Instead, they have shifted focus towards videogames, releasing a slew of well-reviewed indie titles including blockbusters like “Stray,” where you follow a feral cat in a futuristic world, and television with projects like “Pam & Tommy,” “The Changeling” and “Sausage Party: Foodtopia,” a spinoff of their R-rated 2016 animated feature.
Their television releases have too slowed. They haven’t released a single new series since 2024.
This is a long way from their earlier ambitions, which included animated features (this division has only yielded a single film – 2023’s “Nimona”) and more mainstream fare, like when they briefly obtained the rights to “The Terminator” license (later divested and given to Skydance).
Still, Annapurna has continued to diversify. In 2020, Ellison was nominated for a Tony for producing “A Strange Loop,” which is still performing. The company also invested in the 2021 revival of Stephen Sondheim’s “Company.”
Upcoming Annapurna projects include “Control Resonance,” a sequel to their hit 2019 game “Control,” out in September.
