Vividthree gets rights to produce VR shows for Train to Busan sequel
It will also be able to commercialise the themed shows worldwide, except in S Korea
Singapore
VIVIDTHREE Holdings has secured exclusive rights to produce virtual reality (VR) shows based on the sequel to hit movie Train to Busan, the visual effects studio said on Monday.
The group will also be able to commercialise the themed shows worldwide, except in South Korea. The agreement also covers merchandising rights as part of the themed shows.
The sequel, Peninsula, follows the 2016 South Korean zombie thriller, Train to Busan, which grossed US$83 million domestically and about US$46 million internationally, according to a report by The Korea Herald.
The sequel is set to be released this summer, although no specific dates have been revealed.
Charles Yeo, Vividthree's managing director, said in a statement: "We're very eager to bring this blockbuster (the sequel) to the fans outside of Korea through the multi-sensory virtual thriller experience."
Vividthree, which was spun off in a Catalist listing in 2018 by media producer mm2 Asia, in February announced plans to raise about S$1.9 million through a share placement.
The bulk of the proceeds - some S$1.3 million - was to have gone towards developing new projects.
But the proposed placement is conditional upon, among other things, approval from the Singapore Exchange for the listing of and quotation for the placement shares on Catalist, as well as the entry into the pricing supplement by April 30. No further updates have been made so far.
For its most recent quarter, Vividthree swung back into the black with a S$208,187 net profit, compared to a S$456,659 net loss a year ago.
This came on the back of revenue more than doubling to S$1.8 million from S$670,800 for the same quarter in the preceding year, due to the completion of post-production works in the post-production segment, which includes visual effects and computer-generated imagery for film producers.
Shares of the group closed unchanged at S$0.067 on Friday.
In February, Singapore Exchange Regulation urged investors to exercise caution when dealing in Vividthree's shares, flagging cross trading among a small group of accounts between Sept 9, 2019, and Feb 19, 2020.
