Pixelogic, a subsidiary of Tokyo's Imagica Group, recently made a major investment in Los Angeles-based, cloud-centered entertainment technology company MetaMedia to support the latter company's global expansion.
MetaMedia, which serves cinemas, drive-ins and other out-of-home venues, recently surpassed its 1,000th installed screen across the U.S. and Canada, the company said in a news release. The company expects the investment from Pixelogic will help expand MetaMedia's global reach, especially throughout Asia, where Imagica Group has a strong presence as a provider of media and entertainment post-production and distribution services.
"Pixelogic's investment in MetaMedia reaffirms the massive potential of our technology and business," MetaMedia CEO Jason Brenek said in the release. "We’re thrilled to strengthen our existing partnership with Pixelogic and work with the Imagica Group to expand our network around the world. Thanks to partners like Pixelogic and Velocity, we’ve been able to rapidly expand our network of installed sites and deliver numerous Hollywood movies; live programming like UFC fights, AEW wrestling matches, A-list concerts and documentaries; and cinema advertising, among other new revenue opportunities for cinemas and drive-ins.”
MetaMedia and Pixelogic are a good fit, Pixelogic Worldwide Digital Cinema Services Senior VP and General Manager Andy Scade said in the news release.
"MetaMedia's innovative technology and solutions-driven approach is well-aligned with Pixelogic's vision and strategy," Scade said. "With the evolving landscape of theatrical distribution models, we are committed to making further investments that enable faster delivery to exhibitors, increase content security and offer a broader array of content in theaters."
MetaMedia has more than 5,000 cinema screens in its backlog and, with Pixelogic's investment, MetaMedia anticipates tripling its footprint this summer, the company said in the release.
Pixelogic is a global provider of content localization and distribution services for the media and entertainment industry, with operations in Burbank, Calif., Culver City, Calif., London and Cairo.
The Pixelogic investment builds on a partnership begun in June 2020 referred to as "the MVP Alliance." The three companies involved are MetaMedia, Pixelogic and Velocity, an IT managed service provider that offers a multinational proprietary data network as well as digital signage, media advertising networks and cinema marketing services, MetaMedia said in the release.