Digital Domain Signs Memorandum with Wanda Group

HONG KONG, Oct. 19, 2016 /PRNewswire/ -- Digital Domain Holdings Limited (the "Company" or "Digital Domain"; stock code: 547), creator and proprietor of visual effects content and the parent company of the award-winning visual effects company Digital Domain 3.0, announces the Company has signed a memorandum with Wanda Group, where Digital Domain will be setting up a Motion Capture Stage in Wanda Studios Qingdao, introducing its top-notch Hollywood technology into the Greater China region.

Digital Domain's studio in Los Angeles owns the largest Motion Capture Stage in North America, producing visual effects for multiple Hollywood blockbusters such as The Jungle Book. The collaboration with Wanda Studios will mark the establishment of the Company's first Motion Capture Stage outside Hollywood, which will be the most sizeable Stage in Asia. The Stage will offer services on digital imaging production and technical support for digital imaging in movie production. With the new Motion Capture Stage, the Company will be able to replicate its top-notch technology to Greater China region, infusing new elements and technology to movie shooting in the future.

Invested by Wanda Group, Wanda Studios Qingdao is a large-scale film and television industrial park integrating tourism and commercial activities with focus on the film and television production. With all projects expected to be completed by 2018, Wanda Studios Qingdao plans to introduce numerous film and television production houses from China and overseas to ensure dozens of Hollywood blockbusters will be shot and produced at the Studios.   

Mr. Daniel Seah, Executive Director and Chief Executive Officer of Digital Domain said, "The partnership with Wanda will enable both companies to make the best use of our strengths and mark an important step of Digital Domain's consolidation of its Greater China business. With Wanda Studios Qingdao, the world's largest film and television industrial park, not only shall we bring in our top-notch Hollywood technologies, we will also be establishing the largest Motion Capture Stage in Asia. Our high-end technology will be able to cater to the production needs of different movie genres. We are confident that audiences around the world will be able to enjoy the high quality works of Digital Domain in the future."  

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Mr. Daniel Seah (second from left), Executive Director and Chief Executive Officer of Digital Domain attends Wanda Studios Qingdao Signing Ceremony.

About Digital Domain Holdings Limited

Digital Domain Holdings Limited ("DDHL" 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 businesses such as media entertainment, visual effects production, co-production of movies, property investment, and trading.

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 over 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 360^o content through its subsidiaries, Immersive 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 completed the acquisition of Digital Domain 3.0's stake from Prime Focus Limited ("Prime Focus") in June 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

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