Digital Domain’s Business Remains Solid, Strives to Become the World-leading Technology Media Company
06.04.15(Hong Kong, 4 June 2015) – Regarding the recent rumor in relation to its business and management, Digital Domain Holdings Limited (“DDHL” or the “Company”, and together with its subsidiaries, the “Group”) (stock code: 547) would like to emphasize that its business operations remains solid, and it continues its mission to become a world-leading technology media company.
The group continues to work amicably with Immersive Ventures Inc. to create leading-edge immersive video content and services through the IM360 joint venture. The overwhelming positive response on "If a Wish Could Be Made: Teresa Teng 20th Anniversary Memorial Concert in 3D" recently held by DDHL in Taipei has successfully showcased DDHL’s expertise and strength in the entertainment industry. In an industry and Greater China first, DDHL shot the virtual human concert from various angles utilising their patented and proprietary 360-degree camera technology from IM360. Consumers will be able to view the concert in full 360-degrees from multiple perspectives around the concert venue from back stage to the front row. Subsequent to this successful concert, DDHL and its subsidiaries have been in ongoing business development discussions with major brands, IPs, artists, and other potential business partners with an emphasis on the virtual human and IM360 businesses.
Mr. Daniel SEAH, Chairman and CEO of Digital Domain Holdings Limited, said, “All of the Group’s business operation is gradually moving forward as scheduled, we have a solid business strategy which would not be affected by the share price performance or the market and other factors. The management will further develop the Group’s core visual effects business while increasing our presence in the exciting virtual human and virtual reality segment, so as to drive the business growth continuously. Looking forward, the management remain optimistic about the prospect of the Group.”
DDHL has marked its official entry into the entertainment business through acquiring the VFX production business in July 2013. With a solid track record of more than 100 Hollywood movies and more than 1,000 advertising videos, music videos and games as well as partnerships with international film production houses and famous brands including Universal, Warner Bros., Disney, etc, DDHL is well-equipped for further business expansion in various aspects of the entertainment field. In the past year, DDHL has successfully forged a number of major strategic alliances to further diversify the Group’s revenue sources and enrich its content portfolio, including the formation of a joint venture (“JV”) company for the business of 3D-reproductions of Teresa Teng’s image and the JV partnership with Immersive Media. In addition, through the JV partnership with POW! Entertainment, DDHL is to develop, produce, and distribute projects based on certain characters and other content developed by POW! or by the two parties jointly for distribution around the world, marking a milestone for DDHL in becoming a major creative content provider.