Latest financials have been released for Digital Domain Holdings which is the company that partly own’s Digital Domain:
DIGITAL DOMAIN (00547.HK) announced that in 2013, the revenue rose 153% yearly to $467 million; loss equaled $192 million, against a net profit of $5.95 million in the year-ago period. The loss per share equaled 1.955 cents. No final dividend was declared.
The numbers are in Hong Kong Dollars so the $HKD 192 million loss is about $USD 25 million. This January DDH (earlier known as Sun Innovation) warned that it was going to have some huge losses:
SUN INNOVATION (00547.HK) issued profit warning, projecting significant consolidated loss for the year ended 31 December 2013, due to operating losses incurred from its visual effects business, plus impairment of the participation rights in respect of the film Ender’s Game as at 31 December 2013.
Many in VFX believe co-productions are the answer but as I pointed out, it was very expensive for Digital Domain. Digital Domain minority stakeholder India’s Reliance Mediaworks also suffered massive losses and delisted their stock. There are also serious questions of the suspicious death of China’s Galloping Horse (Digital Domain was sold by GH to Sun Innovations last summer) owner Li Ming who died of a heart attack. It was revealed he was under interrogation.