Cloyd explained the ways in which this can be done will vary depending on on both individual projects and the recognisability of each celebrity.
In some instances, creatives may use computer-generated imagery based on existing photos and films, but other cases may see them combine existing assets with look-alike actors.
News last week that the upcoming Vietnam War film Finding Jack would feature a digitally recreated James Dean, was met with criticism from some current Hollywood stars.
Chris Evans slammed the concept as "awful" with Zelda Williams, Elijah Wood and Dylan Sprouse also voicing their disapproval.
Cloyd acknowledged the concept has drawn criticism but insists his company would do their best to ensure celebrities are portrayed respectfully.
"It's disruptive. Some people dislike it," he said. "We will do our due diligence."
Cloyd is most excited about the potential to insert celebrities in augmented and virtual reality, where they could potentially directly interact with viewers.
He also hinted Dean could appear in other roles beyond Finding Jack.
"There is a lot more to come for James Dean," he said. "Think of it as James Dean 2.0."