IMAX Receives $50 Million Financing for VR Content Development

[Baidu VR original manuscript, reproduced please indicate the source]

Beijing time on November 11 news, recently, storm magnifier, Mido Entertainment and other domestic VR star business turmoil, triggered the industry's hot debate, it was said that the virtual reality of the VR industry is too busy, in policy compression, capital retreat Under the circumstances, VR companies began to tend to rationally look at the investment, but the "fat" of virtual reality is still in demand, resulting in extremely fierce competition in the VR industry. As a result, manufacturers are racking their brains to strengthen VR related technology research and product content. Innovation, IMAX Corporation is one of them.

IMAX Corporation

According to the latest Digi-Capital report, nearly 500 million U.S. dollars were invested in the two major industries of virtual reality and augmented reality in the third quarter of this year. In the past 12 months, nearly 2.3 billion U.S. dollars have been invested in these two fields. China, Europe and the United States are undoubtedly the hottest investment markets. Recently, IMAX Corporation and Chinese subsidiary IMAX China announced the completion of the first phase of financing, with a total amount of 50 million US dollars.

IMAX will use the funds it invests in the research and development of virtual reality in the next three years to create at least 25 immersive experiences. At present, IMAX and Acer, the Chinese Cultural Industry Investment Fund (China Media Capital), and RayMedia (Enlight Media), American Creative Artists Agency (CAA), Rennes Group, Studio City Macau (New Studios), and WPP Group (the world's largest communications group) entered into a partnership and joint Hollywood studio and director, Game publishers and virtual reality original video makers collaborate to create VR content.

Founded in 1967, IMAX Corporation is headquartered in Toronto, Canada and New York, USA. A visual technology invented by three Canadians, Graeme Ferguson, Roman Kroitor, and Robert Kerr. The company is dedicated to the development of film and digital technology, mainly 3D technology, Post-production and projection technologies, which include the design, leasing, sales, maintenance and operations of IMAX theaters and projection systems, filming and production of IMAX format films, and the development and production of cameras and projectors.

IMAX Theater

IMAX China Holding Co. ("IMAX China") opened its first IMAX theater in Hong Kong in 1980. In 1998, it provided system services through museums and science centers in mainland China. Since Taiwan has a relatively small number of video studios, IMAX China is included in IMAX China. Mainland China Management, IMAX China was listed on the Main Board of the Hong Kong Stock Exchange on October 8, 2015, with a global offering of 62 million shares, raising 1.848 billion to 2.139 billion Hong Kong dollars, including the investor Fang Yuan Capital and the Chinese cultural industry investment fund held by Li Ruigang. Placing shares, and TCL, China Fund, Davidson Funds, Hutchin Hill Capital Primary Fund, Ltd., and Myriad Opportunities Master Fund Limited as base investors.

Richard L. Gelfond, executive director of IMAX Group, stated: “In the future, the company will further promote the development of new technologies through innovation, creativity, and other advantages, with its own experience, through media, entertainment and technology. The cooperation of the big players in the field will provide better virtual reality content for the entire VR ecosystem. We will also use the cooperation with world-class directors and content production companies to fund the VR experience and attract and inspire more VR users. IMAX also More VR innovations will be tried in different areas, such as IAMX VR."

Next, IMAX will provide high-quality content for the IMAX VR project. Not only that, IMAX and Google's previously-developed 360-degree movie-grade cameras will also be used in IMAX projects.

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