- Improvements to the labor utilization rate – The company will provide an update on improved labor utilization rates across both its domestic and international facilities.
- Favorable amendments to third-party outsourcing agreements – The company will discuss amendments to its agreements with RelianceMediaWorks Limited that eliminate on going liabilities and improve collaboration on marketing efforts between Digital Domain Media Group and RelianceMediaWorks Limited’s facilities in the UK and Mumbai.
- Digital Domain Media Group’s patent protection and monetization – The company will provide an update to its ongoing patent protection initiatives, including an update on filed litigation, settlement discussions and resulting licenses of the company’s 3D conversion technology.
- Virtual Performer – The company will review recent developments in its Virtual Performer business, including a discussion of reallocation of resources to meet demand from owners of high-impact intellectual property.
- China and Abu Dhabi capacity expansion – The company will provide an update on plans to expand the company’s studios in China and Abu Dhabi to meet demand.
- Strategic initiatives – The company will provide an update on strategic discussions aimed at increasing shareholder value.
About Digital Domain Media GroupDigital Domain Media Group (DDMG: NYSE) leverages its expertise in digital visual effects (VFX) and computer-generated (CG) animation across a group of interrelated businesses. At its foundation is Digital Domain Productions (DDPI), an award-winning digital production company founded in 1993. This leading provider of visuals has contributed to more than 90 major motion pictures, including Titanic, the Transformers series, Pirates of the Caribbean: At World’s End and TRON: Legacy, hundreds of commercials, and recently created the virtual likeness of rapper Tupac Shakur for Dr. Dre’s show at the Coachella Valley Music Festival. Mothership, a DDPI subsidiary, focuses on creating advertising, entertainment and branded content from concept to completion, across multiple media platforms. DDMG, its work and its employees have been recognized with numerous awards, including seven from the Academy of Motion Picture Arts and Sciences. The company is building on its success in VFX to participate as a co-producer in major productions and is currently co-producing the upcoming live-action sci-fi feature film Ender’s Game, as well as virtual likenesses for Elvis Presley that will be jointly owned by CORE Media Group and DDMG. DDMG also converts two-dimensional (2D) imagery to three-dimensional (3D) imagery and holds key patents in this area. The company is also applying its CG expertise to produce original, family-friendly animated feature films at its subsidiary Tradition Studios. The first movie, The Legend of Tembo, is in pre-production and two more features are in development. The company’s education subsidiary, the Digital Domain Institute, sets a new standard in digital media education through a pioneering public-private partnership with The Florida State University College of Motion Picture Arts. DDMG is expanding its worldwide footprint of the highest quality visual effects and animation at the lowest possible cost through global partnerships in India and China. The company has studios in Los Angeles, San Francisco, Florida, Vancouver, Mumbai and London, and is currently establishing studios in Beijing and Abu Dhabi. http://www.ddmg.co Safe Harbor Statement Certain statements in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include comments about the Company's plans, prospects, strategies and future performance. They are made on the basis of our management’s current expectations and beliefs, as well as a number of assumptions regarding future events and business performance as of the time the statements are made. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control. These could cause actual results to differ materially from the results expressed or implied in the forward-looking statements.
Such differences may result from actions taken by the Company, as well as from developments beyond the Company’s control, including, but not limited to:
- price volatility of the Company’s common stock;
- changes in domestic and global economic conditions, competitive conditions and consumer preferences;
- our dependence on a limited number of large projects each year, and the timing of revenue flows from those projects;
- developments in the status of strategic initiatives taken by the Company;
- audience acceptance of feature films we may co-produce; and
- rapid technological developments, including new forms of entertainment.