IMAX to Create Fully Integrated Premium Out-of-Home VR Offering
Encompassing Camera Capture, Content Distribution and Delivery
NEW YORK – May 20, 2016 – IMAX Corporation (NYSE:IMAX) today announced its strategy to develop a premium location-based virtual reality offering that will deliver immersive, multi-dimensional experiences, including entertainment content and games, to multiplexes, malls and other commercial destinations. Following yesterday’s IMAX Google VR camera announcement, IMAX has expanded its initiative to include a joint venture agreement with Starbreeze AB, a Swedish-based independent creator, publisher and distributor of high-quality VR entertainment content and hardware.
Pressrelease for download: IMAX Starbreeze VR Partnership 5-20-16
Under the agreement, IMAX will create a premium VR experience that will leverage Starbreeze’s unique StarVR® headset technology, which provides a 210-degree full peripheral field of view – double that of any other VR headset currently available – to offer a truly immersive VR experience that is worthy of the IMAX® brand. As part of the partnership, Starbreeze’s existing library of VR entertainment content and games will be made available to consumers as well as the premium content resulting from the IMAX Google VR camera. IMAX will also look to establish new VR content partnerships through its existing Hollywood filmmaker and studio relationships. Meanwhile, Starbreeze will bring new interactive content through its publishing and partnerships in the gaming industry, which includes its relationship with leading Hollywood studio Lionsgate, with whom Starbreeze is developing its John Wick VR game as well as others.
IMAX sees a unique opportunity to combine premium equipment, more robust computing power, and expansive spaces to create a highly differentiated, destination-based VR experience that will draw audiences out of their homes, similar to the strategy IMAX has successfully employed in the cinema space.
“As technology and entertainment options evolve, we continue to innovate and find new platforms to extend The IMAX Experience,” said IMAX Corp. CEO Richard L. Gelfond. “We believe VR is an area that holds tremendous promise and is a natural progression for IMAX given our established worldwide brand presence, our immersive entertainment technology know-how, and strong industry relationships with filmmakers, studios and exhibitors. Just as IMAX provides the best cinematic experience, Starbreeze is a pioneer in the burgeoning VR market and its headsets will deliver a wider, “IMAX-like” field of view to allow consumers to see, feel, move and play in new worlds in a powerfully immersive and realistic way. While our partnership with Google puts IMAX in the VR capture business, Starbreeze brings the capabilities in content distribution and delivery that, when combined, help us to establish a complete offering across the VR ecosystem.”