Onyx Studio - Comprehensive Analysis Report
Summary
Onyx Studio is a premium co-development and art production company founded in 2019, dedicated to the digital entertainment industry, primarily gaming. The company's core mission revolves around fostering long-term, integrated partnerships to deliver high-quality and cost-efficient outcomes for its clients. By emphasizing proper engagement planning, thoughtful expansion, and building integrated co-development teams, Onyx Studio has grown significantly. In 2023, it strategically merged with Method & Madness, an award-winning Film, VFX, and Animation production studio, solidifying its creative offerings across concept, storytelling, and realization throughout the product development lifecycle. Onyx Studio is established as a significant player in the gaming industry by combining expert craftsmanship, product acumen, and a passion for excellence to create best-in-class content.
1. Strategic Focus & Objectives
Core Objectives
Onyx Studio's primary objective is to be the leading co-development partner across digital entertainment. This involves cultivating long-term, integrated client relationships that are adaptable to evolving needs, while consistently upholding high standards of quality and predictability in content delivery.
Specialization Areas
The company offers a comprehensive suite of services, specializing in:
Art Production: Producing top-tier 2D and 3D art assets, including props, vehicles, weapons, characters, vegetation, and visual effects (VFX).
Concept Art: Developing foundational visuals for characters, weapons, vehicles, and environments to bring game visions to life.
Level Creation: Expertly crafting immersive maps and environments using industry-standard tools like Unreal Engine and Unity.
Cinematics: Creating compelling cinematic sequences that deeply immerse players in a game's narrative.
Marketing Art: Designing effective brand materials and visual assets to drive audience engagement.
Virtual Production: Building high-fidelity, real-time environments for applications in broadcast and film VFX.
Engineering: Providing coding and development expertise, encompassing physics, mechanics, and custom C++/C# development, to ensure innovation and performance.
Game Development: Delivering full-cycle game development services, from initial concept to final launch.
Target Markets
Onyx Studio targets primary markets across console, PC, and mobile platforms. The company collaborates with major game creators globally to deliver best-in-class interactive experiences.
2. Product Pipeline
Onyx Studio's "products" are its specialized co-development and art production services, which are continuously refined and deployed across various client projects.
2D/3D Art Asset Production: Continuously developed and delivered for ongoing client projects, targeting major game creators for console, PC, and mobile.
Game Level & Environment Design: Applied across projects utilizing Unreal Engine and Unity, with ongoing refinement based on project requirements.
Cinematic Realization: Integrated into game development projects to enhance narrative and player immersion.
Virtual Production Services: An evolving offering, providing high-fidelity, real-time environments for media production.
Engineering Solutions: Tailored coding and development expertise, constantly updated to meet the demands of modern game physics, mechanics, and custom development needs.
Onyx Academy: An internal innovation launched in 2022, offering practical game art education focused on Environment and Prop Art, with plans for comprehensive course expansion. This serves as both an educational product and a talent pipeline.
3. Technology & Innovation
Technology Stack
Onyx Studio leverages industry-standard game engines, primarily Unreal Engine and Unity, for its development and art production services. The company specializes in designing and implementing immersive 3D worlds for AAA game production. Its technical capabilities include:
Real-time 3D art production methodologies.
Robust platforms for collaborating with international talent.
Advanced techniques for game optimization, efficient texture usage, and sophisticated scene building and composition.
Proprietary Developments
A significant innovation is Onyx Academy, an online educational platform launched in 2022. It provides practical game art education with a strong emphasis on industry-specific skills, currently focusing on comprehensive courses in Environment and Prop Art. The academy also incorporates a "Learn and Earn" program, allowing students to contribute to AAA-quality non-client projects and participate in a revenue-sharing model.
4. Leadership & Management
Executive Team
The leadership team for Onyx Group, which includes Onyx Studio, comprises:
Bosko Ognjevic: Co-Founder & CEO.
Tan Wen Hao: Co-Founder & CCO, based in Singapore.
Maja Plavsic: CPO, based in Belgrade.
Munhow Kok: Head of Operations APAC, based in Kuala Lumpur, Malaysia.
Zeljko Mihajlovic: Art Service Line Director.
Terence Ng: Head of Production, Method n Madness.
Alex Scollay: CG Director, Method n Madness.
Theo Lau: CFO.
Recent Leadership Changes
The formal merger with Method & Madness in 2023 integrated key leadership from that entity, such as Terence Ng and Alex Scollay, into the broader Onyx Group leadership team, enhancing the combined creative and production capabilities.
5. Talent and Growth Indicators
Hiring Trends and Workforce
Onyx Studio has experienced substantial growth, expanding from an initial team of 10 to over 90 staff. The broader Onyx Group now comprises over 140 industry experts who have collectively completed more than 277 projects. The company operates with a global footprint, maintaining offices in Belgrade (Serbia), Singapore, and Kuala Lumpur (Malaysia), which facilitates access to diverse talent pools and round-the-clock production support.
Current hiring patterns indicate active recruitment for specialized senior roles in game development. Positions sought include:
Senior Level Designer: Requiring 3-5 years of experience in level design and 5-7 years in video game production, with a track record of shipping at least two multiplayer FPS titles on AAA or AA platforms.
Senior VFX Artist: Requiring 2-3 years of experience as a VFX artist on real-time projects and 3-5 years in video game production.
These roles often demand expertise in Unreal Engine and/or Unity 3D, proficiency in industry-standard software, and a deep understanding of game design principles. The focus on senior-level expertise and AAA project experience underscores the company's commitment to high-quality delivery and expansion into complex game titles.
6. Social Media Presence and Engagement
Digital Footprint
Onyx Studio actively maintains a digital presence across professional networking and visual showcasing platforms.
LinkedIn: The company maintains an active profile, showcasing its work, culture, and career opportunities.
Instagram: Active on Instagram, used to present visual work and engage with the creative community.
For its partner, Method & Madness, the digital footprint extends further:
Vimeo
X (formerly Twitter)
Behance
Spotify
Across these platforms, the brand messaging consistently highlights their creative partnerships, industry expertise, and high-quality work, aiming to attract both clients and top-tier talent within the digital entertainment sector.
7. Recognition and Awards
Industry Recognition
While Onyx Studio itself is relatively young, its partner, Method & Madness, brings a lineage of significant industry accolades, reflecting the high quality and innovative nature of the combined entity's VFX and animation capabilities. These awards include:
Best of Behance in categories such as AFTEREFFECTS, ADVERTISING, and MOTION GRAPHICS (2021).
Best Visual Effects GOLD (2021).
Best Animation For Positive Change GOLD (2022).
Best Digital 3D Animation GOLD (2022).
Best In Animation GOLD (2022).
Film Craft In Animation SILVER (2022).
8. Competitive Analysis
Major Competitors
The game co-development and art production market is highly competitive. Key competitors offering full-cycle game art production and co-development services include:
Devoted Studios: Known for an innovative approach to indie game co-development, specializing in immersive experiences across various platforms.
Juego Studios: A full-service game development and art studio recognized for its robust art production system and creative professionals.
Art Bully Productions: Notable for its expertise in character designs, cinematic trailers, and stylized art direction.
Pingle Studio: Specializes in 3D modeling, texturing, and motion graphics, consistently delivering AAA quality benchmarks.
Secret 6: Offers specialized co-development services with a global reputation for crafting captivating gaming experiences and proficiency in 3D, 2D assets, and visual effects, particularly with Unreal Engine 5.
Virtuos Games: A global leader in video game and movie content creation, widely recognized for its extensive expertise in 3D art production.
9. Market Analysis
Market Overview
The global game co-development services market is experiencing significant growth. It reached an estimated USD 5.71 billion in 2024 and is projected to expand at a Compound Annual Growth Rate (CAGR) of 10.2%, reaching USD 13.94 billion by 2033. This robust expansion is fueled by the escalating complexity of modern game development, a rising demand for specialized expertise, and the proliferation of gaming platforms. The broader gaming industry is anticipated to surpass $188 billion by 2025.
Modern games require intricate systems, stunning visuals, innovative gameplay, and seamless cross-platform performance, making traditional single-studio development models increasingly challenging. As a result, co-development has evolved into a strategic advantage, enabling studios to partner and share responsibilities, resources, and expertise. The demand for game development services is surging, with outsourcing and partnerships now driving over 40% of new game projects worldwide. Furthermore, emerging technologies such as artificial intelligence, ray tracing, and real-time rendering amplify the need for highly specialized co-development partners.
10. Strategic Partnerships
Onyx Studio has cultivated extensive and long-term partnerships with leading game creators, evolving many engagements into deeply integrated co-development relationships.
Method & Madness: A formal merger in 2023 significantly enhanced Onyx Studio's creative offerings. Method & Madness brings expertise in film, VFX, CGI production, cinematics, trailers, virtual production, and end-to-end marketing campaigns, known for its award-winning work in animation, visual effects, and advertising.
Compulsion Games (South of Midnight): Initially, an art and tech-vegetation mandate evolved into a fully integrated co-development relationship. Onyx Studio now holds full map ownership, provides asset production, VFX, lighting, and dedicated engineering services for this XBOX and PC title.
DICE (Battlefield 6): Onyx Studio was appointed DICE's first integrated co-development partner for this title, responsible for full-cycle map production, 3D asset production, lighting, and VFX.
inXile Entertainment (Clockwork Revolution): Onyx Studio is actively partnered with inXile Entertainment on this ambitious project.
Haemimont Games (Jagged Alliance 3): An initial vegetation mandate expanded into a multi-year engagement, covering weapons, props, characters, vehicles, and concept work.
Other Notable Clients: The company's client roster includes industry giants such as Activision, Microsoft (Xbox Game Studios), Riot Games, Ripple Effect, Elsewhere, Epic Games, That's No Moon, Ghost Story Games, Illuvium, Frontier Developments, Playside, THQ Nordic, Deep Silver Fishlabs, Quantum Integrity Software, and Platige.
11. Operational Insights
Onyx Studio's operational strategy is built on cultivating deep, collaborative client relationships, prioritizing exceptional service and delivery. The company emphasizes open and clear communication to thoroughly understand client needs and actively works to streamline and enhance the predictability of the development process. This approach is designed to minimize workflow issues and ensure solutions are perfectly aligned with client visions.
A key operational strength is the company's commitment to security and professional standards; all offices and teams are ISO 27001-certified and comply with both Microsoft and EA security standards. Furthermore, Onyx Studio demonstrates strong adaptability and technical proficiency, capable of translating client direction into actionable execution and becoming proficient with client-specific proprietary game engines, pipelines, workflows, and tools. This operational flexibility and rigorous quality assurance position Onyx Studio as a reliable and high-performing partner in the co-development space.
12. Future Outlook
Strategic Roadmap
Onyx Studio's strategic roadmap centers on continued growth and the expansion of its co-development and art production capabilities across the digital entertainment landscape.
Talent Development and Retention: The launch of Onyx Academy is a testament to the company's commitment to nurturing new talent and addressing the industry's
