IMAX Induces US$ 50 Million in Development of Interactive VR Content Experience for Moviegoers

Enhancing the cinematic experience continues to be the sole priority for IMAX as it enters deep and unexplored waters of interactive multimedia such as Virtual Reality (VR).

The first phase of raising US$ 50 million in its Virtual Reality Fund has prolifically culminated as IMAX confirms the development of over two dozen of multimedia outlets that will offer interactive VR content experience in multiplexes and malls across the US. Over the span of three years from now, IMAX is slated to set up at least 25 of such interactive VR multimedia stations.

The company’s global repute for delivering audio-visual content on wide movie screens and augmenting the commercial filmic experience will incur another boon once the demand for interactive VR content attains a worthwhile recognition. IMAX has planned to collaborate with tactical investors such as CMC Holdings (better known just as China Media Capital), The Raine Group, Enlight Media, Acer, Studio City, and WPP. The expertise and success traits of all of these investors will be unified towards development of IMAX’s interactive VR multimedia. Acer’s premium hardware manufacturing platform, Studio City’s prowess in global TV and film industry, and financial support of The Raine Group, which directs a majority of its investments in telecommunications, media and technology, will prompt the necessary boost required in development of commercial interactive multimedia in the VR realm. China Media Capital and Enlight Media will also put essential input in this development, while WPP handles the advertising and marketing for IMAX interactive VR content.

The CEO of IMAX, Richard Gelfond, has begun incorporating VR headset-mounted-displays (HMD) of Swedish tech developer Starbreeze. IMAX is also partnering with Google for developing VR camera rigs that allow production of interactive content. The superlative feature of such cameras is that it will record or capture images in 360-degree and enhance the experience on VR HMDs with high resolution and extra-wide marginal view. The results of such efforts will augment the VR dominion but movie theaters will face stringent competition while keeping up with the preference of interactive VR multimedia. IMAX, hence, is wagering all its cards on the mesmeric VR multimedia headsets that are being developed to give people a neoteric visual experience.

About Tuhin Deb 11 Articles
Tuhin Deb is an enthusiast of international trade and business affairs, his work exemplifies a detailed outlook of the subject matter he covers. With a longstanding interest in the business world, he delivers unique narrative for his allegiant and valued readership. Tuhin also holds a Master’s degree in Mass Communication and Journalism.