Magazine article Screen International

IMAX Raises $50M to Fund VR Content

Magazine article Screen International

IMAX Raises $50M to Fund VR Content

Article excerpt

IMAX has revealed that it is raising $50m investment to fund at least 25 interactive virtual reality content experiences.

The global exhibitor giant is working with "strategic investors" including technology manufacturer Acer, entertainment agency CAA, and investment fund China Media Capital to finance the films.

The plan is to work with IMAX's Hollywood studio and film-maker partners to create premium, event-style productions that complement the company's film slate. IMAX is also talking to game publishers and other content developers about potential partnerships.

The films, which will be produced over the next three years, will be shown in IMAX's recently announced VR centres which are currently being developed in Europe, the US, the Middle East and in Asia.

IMAX CEO Richard Gelfond commented: "IMAX has built its legacy on using innovation and creative collaboration to drive the further adoption of new technologies. …

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