Digital Domain Holdings, parent company of Digital Domain 3.0, has struck a ten year joint venture deal with TNT Production, to produce performance holograms of top Asian singing star Teresa Teng, who died nearly 20 years ago.
The deal sees the two companies build on a previous hologram of Teng which put on virtual performances with contemporary Mandopop superstar Jay Chou in 2013 in Taiwan and Hong Kong, as well as on a virtual performance by Tupac Shakur with rap star Dr. Dre at the 2012 Coachella Music Festival.
The JV will be 60% owned by DDM and 40% by TNT.
Representing Teng’s estate, TNT has licensed Teng’s image to the joint venture which will then use Digital Domain’s ‘Virtual Image Reconstruction Technology’ to create new holograms for use in concerts, albums, movies, and advertising. Digital Domain will make a proportionate capital contribution in cash, based on the valuation of such IP rights, of up to US$7.75 million (HK$60 million).
“The formation of the JV with TNT is part of our latest business strategy of expanding our principal business into the media entertainment sector. We believe that the collaboration between DDM and TNT can broaden the utilisation of the Group’s hologram technology within the Chinese pop music industry and the Greater China market,” said Zhou Jian, Digital Domain Holdings chairman.
“The dedicated team at Digital Domain 3.0 worked closely with [Teng’s] foundation to bring her personality and spirit to her performances in 2013. We look to continue that close partnership and find ways for her enduring fans, as well as a whole new generation, to experience her talent for many years to come,” said Daniel Seah, CEO of Digital Domain 3.0 and CEO of Digital Domain Holdings.
“This partnership is of huge significance. Digital Domain hopes that the 3-D holographic projection technology will more vividly present the wonderful voice of Teresa and the delightful charm of the top songstress of her generation,” said Frank Teng, brother of Teresa Teng and chairman of TNT.