Company Behind Tupac Shakur Virtual Performance to Establish New
Animation/VFX Studio and Digital Domain Institute at twofour54 Media
Campus
CANNES, France--(BUSINESS WIRE)--May. 21, 2012--
At the Cannes Film Festival today, digital production company Digital
Domain Media Group (NYSE: DDMG), and twofour54,
the Abu Dhabi government-backed media and entertainment hub, announced
that they are collaborating to drive development of the local film, TV
and media production industry in the Middle East.
Digital Domain Media Group (DDMG) will establish an animation, visual
effects and motion capture studio and Digital Domain Institute media
school in Abu Dhabi. The collaboration is designed to support the
Emirate’s goal to become the region’s center of excellence for media
content creation, growing both the industry and national talent.
DDMG will begin production of visual effects and animation in studios in
twofour54 at the beginning of 2013, with plans to recruit and hire staff
immediately from local and international talent pools. Over time the
studio will employ upwards of 500 people. DDMG will develop a
purpose-built 150,000 square foot (14,000 square meter) state-of-the-art
entertainment production complex, which is expected to be operational by
the end of 2015.
The new Digital Domain studio will create animated feature films,
produce visual and 3D effects, engage in the production of original
Middle Eastern-branded entertainment for global audiences and contribute
to international productions. The studio will become part of Digital
Domain’s global feature film VFX and animation pipeline, connected to
its studios in Los Angeles, Vancouver, San Francisco, London, Florida
and Mumbai.
The Digital Domain Institute/Abu Dhabi, modeled after the Digital Domain
Institute in West Palm Beach, Florida, will train students in the
essential skills of digital media production for entertainment,
simulation and related applications. Classes at the Digital Domain
Institute/Abu Dhabi are scheduled to begin early in 2014. The market
development initiative and creation of the DDMG studio and school are
funded by $100M (US) in grants from the Abu Dhabi government.
This marks the first time a major, global studio has established a
presence in the region, highlighting the impact that twofour54 has had
on the media industry in the Arab world. By bringing leading edge
technologies and creative techniques to Abu Dhabi, DDMG will support the
wider film and TV production industry and provide massive opportunities
for talent and creative development in the region.
Separately, earlier this week, twofour54 announced that the Emirate of
Abu Dhabi now offers one of the world’s most competitive production
incentives -- a 30% rebate for film, television and commercial media
projects.
“We are incredibly excited to join twofour54 in building a strong
foundation for the filmmaking industry in Abu Dhabi,” said DDMG CEO and
Chairman John Textor. “There is tremendous opportunity to produce
original entertainment content for Middle Eastern audiences worldwide,
and to bring Hollywood work and our own original productions here as
well. Pairing the studio and school enables us to help the Emirate to
build a sustainable creative industries base. Abu Dhabi was the natural
location for us given its strategic location, modern infrastructure and
supportive government. We’re looking forward to grooming up-and-coming
Arab filmmakers at a time of such great awakening in this part of the
world.”
“Digital Domain represents the next great leap forward for twofour54 and
Abu Dhabi – a strong move into digital production and the development of
locally created feature films and TV content,” said Wayne Borg, Deputy
CEO and Chief Operating Officer of twofour54. “The establishment of DDMG
in Abu Dhabi is a significant event in the evolution of the media
industry in the Middle East. It will provide incredible opportunities
for young Arabs to develop skills and careers in an area of the media
industry that has simply never existed before in the region.”
An award-winning digital production company founded in 1993, DDMG is a
leading provider of digital visual effects and has contributed to more
than 90 major motion pictures. twofour54 is the Abu Dhabi
government-backed, media and entertainment hub which focuses on training
and talent development, supports creative entrepreneurship and provides
enabling production, post-production and broadcast facilities. twofour54
is home to more than 160 local, regional and international media
companies including CNN, BBC, Ubisoft, Fox Intl Channels, Cartoon
Network, Financial Times and Charisma.
About Digital Domain Media Group
Digital Domain Media Group (DDMG: NYSE) leverages its expertise in
digital visual effects (VFX) and computer-generated (CG) animation
across a group of interrelated businesses. At its foundation is Digital
Domain Productions (DDPI), an award-winning digital production company
founded in 1993. This leading provider of visuals has contributed to
more than 90 major motion pictures, including Titanic, the Transformers
series, Real Steel and TRON: Legacy, as well hundreds of
commercials. DDPI also converts two-dimensional (2D) imagery to
three-dimensional (3D) imagery and holds key patents in this area.
Mothership, a DDPI subsidiary, focuses on creating advertising,
entertainment and branded content from concept to completion, across
multiple media platforms. DDMG, its work and its employees have been
recognized with numerous awards, including seven from the Academy of
Motion Picture Arts and Sciences. The company is building on its success
in VFX to participate as a co-producer in major studio productions and
is currently in production on the upcoming live-action sci-fi feature
film Ender’s Game. DDMG is also applying its CG expertise to
produce original, family-friendly animated feature films at its
subsidiary Tradition Studios. The first movie, The Legend of Tembo,
is in pre-production and two more features are in development. The
company’s education subsidiary, the Digital Domain Institute, sets a new
standard in digital media education through a pioneering public-private
partnership with The Florida State University College of Motion Picture
Arts. DDMG is expanding its worldwide footprint of the highest quality
visual effects and animation at the lowest possible cost through global
partnerships in India and China. The company has studios in Los Angeles,
San Francisco, Florida, Vancouver, Mumbai and London, and is currently
establishing a studio in Beijing. http://www.ddmg.co
About twofour54
An Abu Dhabi Government initiative, twofour54 is the Middle East and
North Africa (MENA) region's leading media and entertainment hub.
twofour54's unique campus environment offers media and entertainment
businesses the tools they need to succeed. These include 100% company
ownership in a stable tax-free environment, facilitated business
networking, easy licensing and business set-up services, broadcast and
production facilities, and access to professional media talent and
industry experts.
twofour54 delivers its advanced cohesive infrastructure through three
key pillars: twofour54 tadreeb (the media training academy), twofour54
ibtikar (venture capital investment fund for Arab media and
entertainment businesses) and twofour54 intaj (a state-of-the-art
production complex including digital and post production facilities,
broadcast and distribution facilities and the region's only 3D
stereoscopic lab). These services are supported by twofour54 tawasol,
facilitating easy business set-up and providing ongoing support services.
twofour54 is home to the world's first Cartoon Network Animation
Academy, a dedicated Gaming Academy in partnership with ubisoft and owns
the leading global training provider, SAE Institute, in the UAE. The Abu
Dhabi Film Festival and the Abu Dhabi Film Commission are also managed
by twofour54 under a single vision to position Abu Dhabi as a creative
hub for the region.
twofour54 has already attracted over 160 companies, which are now based
at the Abu Dhabi campus. These include several of the region's and
world's largest and most influential content creation companies,
including Ubisoft, Sky News Arabia, Fox Intl Channels, CNN, BBC,
Financial Times, C Sky Pictures, Thomson Reuters, Cartoon Network,
PyraMedia, Bloomberg, Blink Studios, Charisma, VERITAS Films, Tahadi and
Jawaker. Each of these partners has recognised the vast opportunity that
the Arab world represents for growth, and has committed significant
investment and resources to business initiatives that are led out of
twofour54.
The name twofour54 is taken from Abu Dhabi's geographical coordinates,
which are latitude 24 north, longitude 54 east. This name was chosen to
symbolise Abu Dhabi's strategic position within MENA, and its central
role in driving the development of the region's growing media and
entertainment industries. To learn more, please visit www.twofour54.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50284594&lang=en
Source: Digital Domain Media Group
Media: Karen Raz, Raz Public Relations, 310.450.1482 Karen@razpr.com
Julie Miller, Director, Communications & Marketing, Digital Domain Media
Group jmiller@d2.com 310.664.3412
Investors: Shannon Burns, Vice President, Investor Relations, Digital
Domain Media Group sburns@media.d2.com
772-345-8105
