09.01.22August 30, 2022, Hong Kong – Los Angeles, — Digital Domain Holdings Limited (“Digital Domain” or the “Company”), the global market leader in visual effects, post-production and metaverse technologies (listed in Hong Kong HKG: 547) is experiencing strong growth for its main visual effects and post-production activities in North America, India and Greater China, benefiting from substantial investments in improving production capacities and the continued boom in content production worldwide.
Digital Domain reports revenue of HKD 482,726,000 for the six-month period ending June 30, 2022, an increase of 16% over the same period of 2021, with North America the largest geographic segment with 90% of global revenues and 15% revenue growth in the first half of 2022.
“After new equity offerings in 2021, our strategy was to invest and focus on the core business of visual effects and post-production, and our market-leading virtual human technology, and now this strategy is paying off with six consecutive quarters of double revenue,” commented Mr. Daniel Seah, CEO of Digital Domain.
Digital Domain boasts a strong and growing pipeline of production deals from the world’s leading content production companies, both Hollywood studios and streaming platforms, and continues to increase its production capacity across all its key sites in the United States, Canada, India and Mainland China. Canada is becoming the industry’s largest production hub given the consistent and competitive policy of tax refunds that encourages North American studios to reallocate their production budgets from the United States to Canadian facilities. . This trend aligns well with Digital Domain’s global production capacity footprint.
“We are on track to have the record revenue year for 2022 in our 29-year history, with the new scale and improved cost structure enabling Digital Domain to improve the overall operating performance of its business. principal this year, thus making progress towards sustainable profitability”, commented Mr. Seah.
Thanks to the strong performance of Digital Domain’s core business, the company managed to stabilize its net loss at HKD 126,453,000 for the six-month period ending June 30, 2022, an increase of only 3% compared to the same period of 2021.
About the digital domain
Digital Domain Holdings Limited (“Digital Domain”) is the pioneer in creating transportation experiences. Over the past 29 years, Digital Domain has grown to become the industry leader in visual effects, expanding the reach of virtual humans and visualization globally. Digital Domain’s rich legacy consists of hundreds of feature films and episodes, thousands of commercials, game cutscenes, and experimental immersive experiences. A creative force in cutting-edge technology, Digital Domain has brought exceptional artistry to the Oscar-winning blockbusters “Titanic,” “What Dreams May Come” and “The Curious Case of Benjamin Button,” Marvel Cinematic Universe titles crushed to worldwide. at the box office, as the “Avengers” and “Stranger Things” franchise caused a stir with Season IV.
As the first independent visual effects studio to successfully enter the Greater China region, Digital Domain has been leading the way in virtual racing since 2016. Relying on artificial intelligence and reality technologies virtual allows Digital Domain to create photorealistic and emotionally expressive virtual humans, all in real time, and provides advanced support for human-computer and human-human interactions in various virtual scenarios.
Digital Domain Holdings Limited is listed on the Hong Kong Stock Exchange (stock code: 547). Digital Domain has ten locations, including Los Angeles, Vancouver, Montreal, Beijing, Shanghai, and Hyderabad.
Official Digital Domain Website – WWW.DIGITALDOMAIN.COM
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