Oceanus unit sets up S$5m futurealistic studio, to boost headcount over next 2 years

OCEANUS Media Global, a subsidiary of Singapore-listed Oceanus Group, has set up a S$5 million futurealistic studio that will help businesses create customised immersive media productions, the company announced on Thursday (May 5). 

The company is also looking to boost its current staff size of 50 by at least 50 per cent over the next 2 years, Oceanus Media Global said in a press statement. 

The first of its kind in South-east Asia, the "one-stop shop" studio uses high-end virtual production technology to develop “next-generation storytelling experiences” in a range of markets that include concerts, corporate events, as well as film and TV production. 

Oceanus Media Global was set up in October last year by Oceanus Group to consolidate its multimedia teams under one roof.  Oceanus Group's main business is producing seafood such as abalone.

Peter Koh, chief executive of Oceanus Group, told The Business Times that when the company successfully restructured in 2017, it understood that a "strong marketing team" was needed.

One way to do this was to set up an internal marketing department. But Koh said this would have resulted in a "cost centre" that would drain the group's finances.

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"Acquiring a media and marketing agency allowed us to generate profit from that business arm, while still providing us access to professional marketing services," he said.

"This helped us to kill two birds with one stone, giving us access to professional marketing services while generating profits in the long run."

The Covid-19 pandemic also means that Oceanus Media Global is now looking to be a "promising venture" for the group, said Koh, noting that the pandemic has increased the demand for new digital experiences.

Oceanus Media Global said that this studio is able to blend the likes of extended reality (XR), augmented reality (AR), mixed reality (MR) and virtual reality (VR) technologies into a singular customised virtual experience to meet a brand’s bespoke vision.

This was achieved through “extensive investments” into cutting-edge equipment, and developing the specialised knowledge and technical expertise needed to operate the studio, the company said. 

For instance, live streams and broadcasts can be augmented with motion capture equipment in this studio to create immersive and interactive digital concerts in the metaverse.

Nick Tan, chief executive of Oceanus Media Global, said: “The launch of our futurealistic studio will raise the bar for immersive media productions in Singapore and we are excited to be at the forefront of our industry. We look forward to creating many more memorable experiences that will leave a lasting impression for audiences everywhere.”