Dreamscape Immersive has raised $11 million to push forward its goal of opening a VR storefront at a Los Angeles shopping center. Investors include director Steven Spielberg, three Hollywood studios (Warner Bros., 21st Century Fox and Metro-Goldwyn-Mayer), IMAX, venture capital firm Bold Capital Partners and mall chain Westfield Corp. Dreamscape co-chairman and former DreamWorks motion picture chief exec Walter Parkes says the VR content will include original experiences and others tied to movies. Continue reading Dreamscape Raises $11 Million to Fund Retail VR Experiences

Alibaba Pictures Group and Dalian Wanda Group have been spending big to acquire Hollywood companies, in their quest to make homegrown movies and capture a bigger portion of that nation’s huge box office. Now, Tencent Pictures, the film unit of China’s biggest Internet company, has joined that fraternity, with chief executive officer Edward Cheng saying acquisition targets could be in Hollywood and include creative and/or production companies. China’s box office is projected to reach $10.4 billion in 2017. Continue reading China’s Tencent Pictures Seeking New Hollywood Acquisitions

Apple is reportedly in conversations with numerous Hollywood studios for earlier access to movies. The goal would be to offer a higher priced home video rental of movies shortly after they are released in cinemas, a move that has been vigorously resisted by motion picture theater owners, who have occasionally and en masse boycotted movies given an early home release. 21st Century Fox, Warner Bros. and Universal Pictures have all confirmed they are looking into this kind of early release. Continue reading Studios Consider Options for Early Movie Release to the Home

China’s Ant Financial Services Group, an affiliate of Alibaba Group Holdings, is building a global network of merchants that accept its payment services via the Alipay mobile payments app. Ant Financial just announced a partnership with the online-payments arm of Thai conglomerate Charoen Pokphand Group, meaning that Chinese tourists can use their familiar payment app there. Alibaba has also launched its new Digital Media and Entertainment Group as the company continues its push into movies, online video, music, gaming and more. Continue reading Alibaba Expands Alipay, Creates Media Entertainment Group

Steven Spielberg’s Amblin Entertainment just inked a deal with Chinese e-commerce company Alibaba Group to produce, finance and distribute movies. The relationship gives Alibaba an entrée into the Hollywood moviemaking industry, and Amblin a pipeline to distribution in China. Although the financial details of the deal were not disclosed, Alibaba will now have a minority equity stake in Amblin and a seat on its board, and Amblin will have access to the Chinese company’s massive database on consumers there. Continue reading Amblin and Alibaba Ink Mutually Beneficial Moviemaking Deal

The first quarter of 2016 has brought some upbeat news to the movie industry, including the hits “Deadpool” and “Zootopia” which created a 12 percent uptick in box office compared to the same quarter last year. More long-term problems — stagnant attendance and the lure of Internet content — still threaten the bottom line. But what many exhibitors are really worried about is Screening Room, the brainchild of Napster co-founder Sean Parker, which offers first-run movies at home, at the same time they debut in theaters. Continue reading Many Exhibitors and Studios Remain Wary of Screening Room

Tony Christopher, president and CEO of Landmark Entertainment Group, is currently developing a Virtual Worlds Fair. The project started with a discussion with Steven Spielberg 20 years ago, and is currently moving forward with funding from Chinese backers. The fair will feature four key areas: Dataland, an entertainment and education VR experience for children; Intencity, for branded VR experiences; Passportal, to virtually experience the wonders of different countries; and the Tower of Humanity, to celebrate the planet through virtual experiences. Continue reading GDC 2016: Creating Virtual Worlds for Companies and Brands

Last year, the motion picture box office surpassed $11 billion for the first time in history. But that hasn’t kept distributors and exhibitors from guarding the traditional 90-day window between theatrical release and home entertainment. When major studios attempted to shrink that window five years ago, theater owners fought back. Now, Screening Room, a startup backed by entrepreneur and former Facebook/Napster executive Sean Parker, as well as some Hollywood heavyweights, is trying again — and may succeed by offering anti-piracy tech and revenue sharing. Continue reading Screening Room Proposes Bold Day-and-Date Release Model

In Part 2 of our E3 overview, we look at the featured products and emergence of virtual reality. E3 operates with a familiar orchestration: Press events, lavish floor displays and private parties with big name bands. The Who, for instance, entertained guests of Electronic Arts. The layout of the exhibit floor gathers the platform players — Microsoft, Sony and Nintendo — in the Convention Center’s West Hall and fills the South Hall with the major game developers. In a sign of where VR leader Oculus fits into the spectrum, its booth anchored a prominent corner of the platform-centric West Hall. Continue reading Perspective: In Reality, VR Not the Only Game at E3 (Part 2)

With several consumer virtual reality headsets expected to hit the market this year, studios are scrambling to develop compelling VR content designed for the new devices. Virtual Reality Co. is a firm started by Hollywood players that has been working with notable filmmakers such as Steven Spielberg and Ridley Scott to bring their cinematic skills to the VR space. These directors are eager to explore the new format, but are weary of the pitfalls that plagued 3D technology. Continue reading Hollywood Veterans Team Up for New Virtual Reality Projects