Imax Completes Round Of Virtual Reality Funding
Imax has completed the first phase of a $50M virtual reality fund between the global cinema format provider and other strategic investors to bankroll at least 25 interactive VR content experiences over the next three years in Imax VR centres. The monies will aid in the creation of higher-quality VR content that can be leveraged across the burgeoning VR industry. The group will focus their VR efforts on event-style productions with its major studio and filmmaker partners that complement Imax’s film slate. Other strategic investors include Acer, CAA, China Media Capital, Enlight Media, The Raine Group, Studio City and WPP.
The first Imax VR centres are opening in Los Angeles and at ODEON & UCI Cinemas Group’s Printworks multiplex location in Manchester, England. Other test facilities are being eyed in China, Japan, the U.S., the Middle East and Western Europe in the coming months. Imax will assess various factors at these pilot locations including overall customer experience, pricing and the types of content featured. If successful, the intent is to ultimately roll out these centres around the world at movie theaters, tourist destinations and shopping locations.
See the full story here: http://deadline.com/2016/11/imax-virtual-reality-1201852232/