Nikon acquires Red Digital Cinema, enters professional video market
Nikon Acquires Red Digital Cinema to Enter Professional Digital Cinema Camera Market
In a strategic move to expand into the professional digital cinema camera market, Nikon has announced the acquisition of high-end video camera company Red Digital Cinema. Founded in 2005 by Jim Jannard, the creator of Oakley sunglasses, Red has been a prominent player in digital film production, with over 25 percent of the top-grossing domestic films in 2016 shot on Red cameras.
Despite being a pioneer in 4K digital filmmaking, Red has faced increased competition in recent years. The company recently settled lawsuits with Nikon over a patent related to compressed RAW video. Red’s president, Jarred Land, believes that this acquisition will redefine the professional digital cinema camera market.
Although the exact acquisition amount has not been disclosed, it has been confirmed that Red will become a wholly owned subsidiary of Nikon. This move allows Nikon to enhance its presence in the high-end video camera market and leverage Red’s expertise in digital filmmaking.
With this new partnership, industry experts are anticipating innovative products that will cater to the growing demands of filmmakers and production companies. The acquisition of Red Digital Cinema marks a significant step for Nikon as it ventures into the competitive world of professional digital cinema cameras.
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