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International Entertainment News

Wednesday, May 11, 2016

Digital Domain Taps Greater China's VR market to Build a Complete Visual Effects Ecosystem

Digital Domain Taps Greater China's VR market to Build a Complete Visual Effects Ecosystem

Collaboration with Youku to Develop VFX Content Distribution Platform Acquired IP of Late Pop Diva Anita Mui

Actively Expanding Virtual Human Applications

HONG KONG, May 12, 2016 /PRNewswire/ -- 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, is pleased to announce that the Company has actively tapped into the virtual reality (VR) market in Greater China and established a complete business ecosystem with its leading technologies, bringing the development of Greater China's VR content creation to a whole new level.

During a press conference held in Shanghai on 11 May, Digital Domain announced that it has entered into a strategic partnership term sheet with Youku, a subsidiary of China's leading media, cultural and entertainment industry player - Youku Tudou Inc. Youku will purchase VR content from Digital Domain and distribute original or proprietary content in computer graphics (CG), visual effects (VFX), 360 live streaming and pre-recorded video, as well as VR, augmented reality and immersive media content though Youku's extensive platform in Greater China. In addition, Digital Domain is authorized to develop and produce 360 live streaming and pre-recorded video and VR, augmented reality, and immersive media contents in collaboration with Youku. Moreover, Digital Domain and Youku are planning on further collaboration in the area of virtual human business.

Mr. Seah Ang, Daniel, Executive Director and Chief Executive Officer of Digital Domain said, "Digital Domain owns the world's leading technology in VFX and VR, our collaboration with Youku, the leading online platform in Greater China, is an important step for the Company to further penetrate the Greater China market. Youku's platform, network and resources will allow Digital Domain to develop a VFX ecosystem combining advanced technology, original content production and a distribution platform. With our leading technology and Youku's resourceful platforms, we believe that the collaboration can fully harness the strengths of both companies and bring a brand new experience to audiences in Greater China and around the world, setting a new benchmark for the industry."

Currently, Digital Domain is engaged in the production of a number of VR contents, expecting to bring greater excitement to Greater China and international audiences going forward. Digital Domain exhibited several videos of its latest projects during the press conference in Shanghai. This included a VR concert featuring the famous Hong Kong cartoon character McDull; "Dark Fairy Tale", the first VR video in China jointly produced by Digital Domain with Youku and Hxmstudio, and the first VR music video featuring TF Boys. The Company will also take part in a 360 VR movie production of a great Chinese classic novel, and is in discussions with a number of independent third parties on collaborations in the production of VR movies, TV series, variety shows, concerts and virtual humans.

Digital Domain also announced a strategic partnership with the family of the legendary late pop diva, Ms. Anita Mui, for the exclusive use of the intellectual property rights of her works in order to produce new virtual human version of Ms. Anita Mui. Incorporating Digital Domain's advanced 3D virtual human technology, the virtual human will allow audiences in Greater China, Singapore, Malaysia, Thailand, Japan, South Korea and indeed, around the world, to view her enchanting performance through concerts, advertisements, movies and films. The strategic cooperation with the family of Ms. Anita Mui marks the second successful production and utilization of Digital Domain's virtual human technology following its first project to revive the legendary late pop diva Ms. Teresa Teng in 2013.

Mr. Daniel Seah said, "Ms. Anita Mui is a Chinese pop music icon and we are delighted to obtain the intellectual property rights to produce virtual human version of the pop superstar. This will give our audiences the opportunity to appreciate Ms. Mui's talent and charisma; transcending both time and space. We believe this will bring an innovative and memorable experience for all of her fans. We anticipate the creation of more virtual humans of legendary figures following our success in producing virtual humans of Ms. Teresa Teng and Ms. Anita Mui. Through the use of the latest technologies, we have come up with an unparalleled method to reveal the onstage charisma of these very talented artists, and also, a sincere way to show our utmost respect and appreciation for them."

About Digital Domain Holdings Limited

Digital Domain Holdings Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited (HK stock code: 547). Digital Domain Holdings 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 that comprises 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. Being one of the biggest VFX service providers in the US media industry, it is mainly engaged in the production of digital visual special effects, animations and movies.

For enquiries, please contact Hill+Knowlton Strategies Asia:

Wong Tel: (852) 2894 6373 / (852) 9732 8223

Hui Tel: (852) 2894 6264 / (852) 6338 3852

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SOURCE Digital Domain Holdings Limited

Digital Domain Holdings Limited

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