Digital Domain Holdings Collaborates with Poly Capital and Hony Capital to Professionally Develop VR Consuming Experience
09.11.17
Investors strongly recommend VR Consuming Experience
Look forward to a brand-new business model
(Hong Kong: 11 September, 2017) Digital Domain Holdings Limited (Stock Code: 547), one of the largest and most innovative providers of digital visual effects and virtual reality (VR) experiences, proudly announces its collaboration with Poly Capital and Hony Capital, to establish Digital Domain Space (Beijing). They aim to develop and execute an innovative VR experience with plans to open VR theaters in the PRC. Digital Domain’s existing VR services and experiences will assist Digital Domain Space in becoming a world-leading brand that specialises in the research and development of VR technology, content creation and distribution, and will introduce a brand-new businses model for cutting-edge VR experiences.
Highlighting the interactive and entertaining nature of VR content, the Digital Domain Space’s VR theaters will be installed inside and outside the cinemas. While waitng for movies to start, consumers can take a virtual tour of the latest VR technology. Compared to extant domestic VR technologies, Digital Domain Space will present consumers with elevated VR content and total immersion in VR experiences. Leveraging on the influence and scale of its brand, store location and consumer volume, Digital Domain Space will also aid product and advertising placement to provide additional and diversified business opportunities.
Mr Daniel Seah, Executive Director and Chief Executive Officer of Digital Domain, says, “It is our pleasure and honour to collaborate with Poly Capital and Hony Capital. Digital Domain Space is a real milestone of Digital Domain’s business, symbolizing our specialisation and strengths of creation on VR content, which are being expanded to off-line platforms. The upcoming grand opening of VR theaters indicates Digital Domain is progressively building and expanding the VR industry, especially from online to offline, direct consumer platforms. Digital Domain is already renowned for creating breathtaking Hollywood special effects. This knowledge and existing resources will be extremely useful in the collaboration. Along with the brands’ collective strengths and capabilities, this will bring new ideas and innovation to the VR industry.
“The development of VR technology has brought a number of business opportunities to the cultural industries.” Mr. Li Wenxuan, Chief Investment Officer of Poly Capital elaborates, “As one of the leading Hollywood special effects companies, Digital Domain is experienced in content creation and has led the industry to research and develop further on VR technology. It has achieved excellent results and has long been recognised in this sector. This collaboration with Digital Domain is simply a first step to our future VR journey. In the future, we look forward to collaborating with Digital Domain on other aspects such as provision of high-quality cinema equipments and supplies, in order to make use of collective strenghts and resources to create a win-win situation.”
Mr. Hill Wang, Head of Special Opportunities Investment of Hony Capital agrees, adding, “Nowadays, new technology and new business model have dramatically changed and improved our quality of life, bringing various innovative investment opportunities to the industry. Hony Capital has been involved in the entertainment media industry for several years and is constantly aware of related new technology and business models. Collaborating with Digital Domain has always been on our wish list and strategic planning, and we are pleased and honored to see it happening. In relation to VR technology development and content creation, we are pleased to see Digital Domain has taken the lead and has established and created various innovative VR technology and business models. The establishment of VR theaters will switch and expand the focus of the entire business from online platforms and businesses to offline consumer markets. We are very optimistic about the prospects of this cooperation. We hope to strive together with collective strengths and support to become a leading investment company in the VR industry.”
Digital Domain has invented and designed holistically ergonomic facilities, incorporating its most advanced visual and audio equipment into the VR theaters. This does not only prevent dizziness associated with a 360° VR experience, it also allows total immersion into the activity and elevates the consumer’s enjoyment of the exceptional quality visual experience.
In addition to Digital Domain’s signature series, Monkey King, Micro Giant and Legend of the Naga Pearls, Digital Domain Space’s VR theaters will also provide its partners with VR content and games, presenting consumers with an incredibly wide range VR options.
About Digital Domain
Digital Domain creates transportive experiences that entertain, inform and inspire. The company is a pioneer in many fields, including visual effects, livestreaming landmark events in 360° virtual reality, building situational awareness applications, creating “virtual humans” for use in films and live events, and developing interactive content.
A creative force in visual effects and media applications, Digital Domain and its predecessor entities have brought artistry and technology to hundreds of motion pictures, commercials, video games, music videos and virtual reality experiences. Its groundbreaking visual effects appear in films such as "Titanic," "The Curious Case of Benjamin Button" and blockbusters "Furious 7" and "Deadpool." Staff artists have won more than 100 major awards, including Academy Awards, Clios, BAFTA awards and Cannes Lions.
Digital Domain has offices in Los Angeles, Vancouver, Beijing, Shanghai, Taipei and Hong Kong. Digital Domain Holdings Limited is listed on the Hong Kong Stock Exchange (stock code: 547).
Digital Domain Holdings Limited : www.ddhl.com
Digital Domain 3.0 : www.digitaldomain.com
About Poly Capital
Founded in December 2015, Poly Capital is a private equity fund established by Poly Real Estate, Poly Investment Holdings and China International Capital Corporation Limited, with registered capital of 1 hundred million.
Poly Capital aims to create long-term, stable and attractive returns for investors. With the faith of market operation and opportunities in property and capital development, the company is to manage strategy planning upon stakeholder’s resource advantages. Poly Capital’s core business includes the management of developmental and commercial real-estate equity funds, private equity funds and venture capital funds, etc. Nowadays the company manages nearly RMB10 billion of assets, and aims to create fruitful return for investors.
About Hony Capital
Hony Capital, founded in 2003 and sponsored by Legend Holdings, specializes in buyout investment. Partnering with the world’s leading investors, it focuses on the development of China’s real economy with “Value creation, Price Realization” as its investment philosophy.
Hony Capital currently has RMB70 billion assets under management. The investors of Hony Capital include Legend Holdings, the Chinese Academy of Sciences Holdings, the National Social Security Fund, China Life Insurance and leading investment institutions such as Goldman Sachs, Temasek, European and U.S. pension funds and endowment funds. Hony Capital puts China as its top market, with investments in over 100 companies in the areas of pharmaceutical and healthcare, media and entertainment, consumer products, food and beverage, as well as machinery and equipment. Hony Capital’s portfolio companies include China Shijiazhuang Pharmaceutical Group (CSPC), Zoomlion, China International Marine Containers (CIMC), Suning, Shanghai Chengtou Hoding, Jin Jiang International Hotels, ENN, PizzaExpress (UK), STX(US) , WeWork (US) , OFO, etc. The assets value of these companies totals about RMB2.9 trillion with sales volume of RMB 860 billion, providing more than 450,000 jobs.
Media Contact
Allison Citino
Director of PR, Digital Domain
Office: (310) 314-2833