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| To Create Leading-Edge Immersive Video Content and Services - IM360 |
HONG KONG, Apr 8, 2015 - (ACN Newswire) - Digital Domain Holdings Limited ("DDHL" and together with its subsidiaries, the "Group") (stock code: 547) has entered into a joint venture with Immersive Media to bring together their industry-leading expertise to create ground-breaking immersive entertainment. Immersive Media creates fully immersive video experiences for companies like Disney ABC, American Express, Converse, Turner Broadcasting and Mountain Dew. Through this strategic partnership, the two companies look to change the landscape of visual content creation. The partnership immediately provides breakthrough client side applications and collectively they will pursue opportunities at the forefront of immersive video and virtual reality programming.
"New visual experiences are exploding across the world, impacting advertising, television, film and gaming, and Immersive Media has been at the forefront of this trend for years," said Mr Daniel SEAH, Chairman and CEO of DDHL. "To drive the content revolution, it's crucial for us and our partners to keep ahead of the curve. Immersive Media shares our vision of innovation, and this joint venture allows us to combine our unique complementary strengths."
With an Academy Award-winning visual effects house offering more than 20 years of experience in the motion picture industry, DDHL has lent its artistry to thousands of commercial, video game and music video productions. DDHL's facilities include the state-of-the-art virtual production studio responsible for the Virtual 2Pac that debuted at the Coachella Music Festival. More recently at the 2015 Sundance Film Festival's New Frontier exhibition, DDHL's work on the first photo-realistic, fully CGI rendered, 3D virtual reality film "Evolution of Verse," debuted, which is also available for download via iOS and Android systems. With the Immersive Media partnership, DDHL looks to expand beyond computer-generated films into live action virtual reality or VR filmmaking.
"We are thrilled to be partnering with the talented people at Digital Domain," said Mr Myles McGOVERN, President & CEO of Immersive Media. "It's an exciting time in VR and Immersive's IP is essential in the growing VR space. The combination of these innovative companies will have an immediate impact on the rapidly changing world of VR entertainment."
Immersive Media has recently launched a 360 virtual reality solution that includes a playback application, a distribution network and content for head-mounted displays. The company has also created the imLIVE platform which enables the capture, production, stitching and publishing of virtual reality and high-resolution spherical video content, available on-demand or streamed live to mobile devices, VR headsets, broadcast and the web. Immersive Media technology has been used in widely praised Taylor Swift Blank Space interactive music experience as well as CONAN360, which lets fans enjoy Conan O'Brien's comedy show with a 360-degree viewing experience.
About Digital Domain Holdings Limited
Digital Domain Holdings Limited ("DDHL" and together with its subsidiaries, the "Group") is listed on the Main Board of The Stock Exchange of Hong Kong Limited (stock code: 547). DDHL is a diversified investment holding company with its operating and investment businesses spanning Hong Kong, the United States, Canada, Mainland China and other countries, encompassing such businesses as media entertainment, visual effects production, co-production of movies, property investment, trading, etc.
On 4 July 2013, the Group acquired Digital Domain 3.0 Group comprising Digital Domain 3.0, Inc., Digital Domain Productions 3.0 (BC), Ltd. and Mothership Media, Inc. Digital Domain 3.0 Group has a history of about 20 years and has manifested itself as the leading digital production company. As one of the biggest VFX service providers in the US media industry, it is mainly engaged in the production of VFX, animations and movies.
The Group will continuously explore business opportunities in our new domain of business, and will pursue other strategic investments, to create benefits for its shareholders and investors and to develop more business opportunities with greater potential. Company website: www.ddhl.com
About Immersive Media
Immersive Media is the pioneer and leading provider of 360, full-motion, interactive video experiences. Immersive Media's patented imLive Platform and full production services create high-resolution, immersive video for a variety of applications, delivered on mobile, desktop, broadcast, Oculus Rift and Gear VR. From branding and entertainment to mapping and defense, Immersive Media customers and agents produce the deepest, most engaging video experiences possible. Visit Immersive Media on the web at www.immersivemedia.com
For enquiries:
Strategic Financial Relations Limited
Mandy Go +(852) 2864 4812 mandy.go@sprg.com.hk
Jovanni Cai +(852) 2114 4937 jovanni.cai@sprg.com.hk
Isabel Kwok +(852) 2864 4824 isabel.kwok@sprg.com.hk
Fax: +(852) 2527 1196
Topic: Press release summary
Source: Digital Domain Holdings Limited
Sectors: IT Individual, Broadcast, Film & Sat
https://www.acnnewswire.com
From the Asia Corporate News Network
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