Digital Domain Attended 19th Shanghai International Film Festival VR Exhibition
Showcased top notch VR technologies and VR projects
CEO shares views on the future of VR with industry giants
(21 June 2016 – Hong Kong) – The 19th Shanghai International Film Festival (SIFF) “Genesis” – VR PARK was held in Global Harbor, Shanghai during 11-19 June 2016. Digital Domain Holdings Limited (the “Company” or “Digital Domain”; SEHK stock code: 547), creator and proprietor of visual effect contents and the parent company of the award-winning visual effects company Digital Domain 3.0, was invited to attend the exhibition and showcase a number of its cutting-edge virtual reality (VR) technology achievements and VR projects. Mr. Seah Ang, Daniel, Executive Director and Chief Executive Officer of the Company together with industry giants, shared their views on the development and business opportunities from the integration of VR with movies and television.
In the “Genesis” – VR PARK, Digital Domain showcased its proprietary 360 degree camera, the latest VR technology achievement and core expertise of the Company with its unique and state-of-the-art technology. The camera has the ability to capture images in six directions simultaneously, while concurrently stitch, compress and save images in real time. The forthcoming second generation 360 degree camera will be used for international sporting events, bringing wonderful visual experience to audience.
Digital Domain also presented several VR and virtual human (VH) productions to visitors during the exhibition, including “Kang Xi Lai Le” and the music video of the Hong Kong cartoon character McDull. They were produced using Hollywood-standard technology with exquisite resolution and brilliant visual effects. Digital Domain made the best use of its epoch-making VH technology to create the VH image of Asian pop legend “Teresa Teng”, the late pop diva is brought back to life to the audience in a brand new image with the lifelike facial expressions and costumes, breaking the boundaries between the “real” and the “virtual” worlds.
Mr. Seah Ang, Daniel said, “We are honored to be invited to the 19th Shanghai International Film Festival, which is the world’s fastest growing category ‘A’ film festival. Digital Domain’s technology and its productions have received rapturous reception from the industry and audience. The market is in thirst for VR works, and many viewers have yet to experience the joy of VR videos. We hope that through this exhibition, where audience can come into close contact with professional gears and enjoy the thrill of exploring VR technology, we can promote the Digital Domain brand and develop the market. ” He added, “According to industry statistics, China’s VR market was worth RMB1.54 billion in 2015, and is expected to reach RMB5.7 billion this year, representing an annual growth rate of over 300% (note 1). While the VR market is still in its infancy seeking further development, we believe that VR technology can be applied to various aspects of our life with continued advances in hardware and software developments.”
During the SIFF, Mr. Seah Ang, Daniel, participated in the VR summit with industry leaders, sharing their experience of VR productions and their opinions on the future trends. Speakers included representatives of Xiaomi, Baobab, Penrose, Felix & Paul and Reload Studio. Mr. Seah Ang, Daniel, said at the summit, “VR development we see today is similar smartphone development in the past, with hardware getting more advanced by the day. Likewise, its content materials should keep up the pace, which is the purpose of continuous innovation in our VR contents. In the past six months, Digital Domain has already tapped the entertainment and movie sectors through a series of mergers, acquisitions and strategic alliances, successfully developing an integrated eco-system including technology, content, IP and distribution platform. Leveraging our strengths as a pioneer in the industry, we will continue to bring new experience to audience, and capture every market opportunity.”
Note 1: source – “2015 China virtual reality industry research report” by IIMEDIA Research Group
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.
In 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 that mainly engaged in the production of VFX, animations and movies. DDHL is also currently focused on building a library of live/recorded 360o content through its subsidiaries, Immersive Media Ventures, Inc. and IM360 Entertainment Inc. so as to build and grow virtual reality technology (including the 360 digital capture technology) in the mainstream media and entertainment fields.
DDHL has also strengthened its VFX and post-production services in Greater China through the acquisition of Post Production Office Limited (“PO”) in April 2016. Founded by global renowned entertainment icon Mr. Nicholas Tse, PO is engaged in the provision of post-production services for films, TV shows, advertisements, mobile Apps, online games, micro-films and animations. The Group also purchased Digital Domain 3.0’s stake from Prime Focus Limited on 27 April 2016, giving DDHL sole ownership of the visual effects house. DDHL and Prime Focus also plan to provide post production and visual effects services to the advertising, animation and virtual reality industry.
Corporate Website: www.ddhl.com