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Digital Domain Expands into China
Leading digital animation/vfx production company Digital Domain Media Group has launched its expansion into the Chinese film market with the announcement of a new strategic partnership with Beijing Galloping Horse Film Co., Ltd. The venture is the first large scale initiative of a global vfx leader to address the country’s increasing demand for high end production values.
The new Digital Domain – Galloping Horse Studio will provide visual effects, animation and production services for features, television and related media. The company expects the facility in China will be comparable in scale to its nearly completed animation studio in Port St. Lucie, Florida—a facility funded by the city with an investment of approximately $50 million for land and building. Digital Domain and Galloping Horse will each own 50% of the new studio. DD will contribute technology and operating expertise and be responsible for designing the facility and personnel training. Galloping Horse will provide land for the studio and take on construction and build-out costs as well as lead fundraising in the greater China capital markets.
“This joint venture enables us to leverage our reputation for excellence and innovation in visual effects and our state-of-the-art proprietary technologies and patent portfolio into the large and rapidly expanding Chinese market,” said Digital Domain Media Group CEO John Textor. “It supplements our strong studios in the U.S. and continues the implementation of our plan to expand our global footprint, adding to our existing international operations in Canada, India and London. It also highlights the growing importance of China as a market for video entertainment. Galloping Horse, which does not currently have VFX capability, is an ideal partner for us as we link our award-winning technology with that company’s excellent reputation and strong market position in China. In addition, Galloping Horse has an excellent track record of delivering blockbuster films in China and works with some of the finest film directors around.”