U.S. VFX Giant Enters Joint Venture with Beijing Galloping Horse

The Digital Domain Media Group (DDMG) today announced a strategic partnership with financing, production, and distribution firm Beijing Galloping Horse Film Co. (GH) that will be Digital Domain's first expansion into the Chinese film market.
The new venture, The Digital Domain – Galloping Horse Studio, will be designed, and its personnel will be trained, by Digital Domain, DDMG said. GH will provide the real estate and will shoulder construction costs, reducing DDMG’s expenses as it enters the new market.

The joint venture, half-owned by each of the two companies, will address demand for “high-end, American-driven film production values” in the Chinese market, DDMG said, adding that it will be “comparable in scale” to the $50 million animation studio that’s nearing completion in Port St. Lucie, FL.

“This joint venture enables us to leverage our reputation for excellence and innovation in visual effects and our state-of-the-art proprietary technologies and patent portfolio into the large and rapidly expanding Chinese market,” said DDMG CEO John Textor in a prepared statement. “Galloping Horse, which does not currently have VFX capability, is an ideal partner for us.”

Digital Domain is on the hunt for new sources of capital, especially after its disappointing $40 million IPO in November fell far short of the $115 million goal it set back in May – or even the $55 million revised benchmark it cited in the days before the public offering. In return for providing GH’s entrà©e to Hollywood, DDMG is hoping to gain a presence in the fast-growing and potentially lucrative Chinese film industry. According to a recent BBC News report, the Chinese box-office was up 62 percent last year and represents the world’s third-largest film market despite a relatively paltry screen count of 6300. (The U.S. has more than 40,000.)

For more information: ddmg.co.