Felix & Paul Studios Reportedly Shuts Down After Laying Off All Staff as Meta Cuts Budgets
Updated
Updated · The Ghost Howls · Aug 24
Felix & Paul Studios Reportedly Shuts Down After Laying Off All Staff as Meta Cuts Budgets
1 articles · Updated · The Ghost Howls · Aug 24
Summary
All staff at Felix & Paul Studios have reportedly been laid off, signaling the immersive storytelling company is either frozen or effectively shut down despite no official confirmation.
Meta budget cuts appear to be a key driver: the studio relied heavily on manufacturer-backed funding, and that support no longer seems sufficient to sustain operations.
The reported collapse has rattled the XR community because Felix & Paul was one of virtual reality’s earliest and most prominent immersive video producers, including projects filmed aboard the International Space Station.
The shutdown underscores a broader VR problem: award-winning immersive films and performances still struggle to generate a durable business model without patronage from large platform companies.