AMPD Ventures Inc (CSE:AMPD, OTCQB:AMPDF), a next-generation digital media tools and infrastructure provider, shared an update on its subsidiary, Departure Lounge Inc, which has kicked off commercial operations with a bang and is positioned for growth in 2023.
According to the Vancouver-based company, its subsidiary Departure Lounge opened its doors for business in August with an offering combining the highest resolution commercial volumetric capture stage, advanced motion capture technologies, virtual production, and creative services.
In the following month, Departure Lounge scored its first commercial customer. As of December 2022, Departure Lounge is actively engaged in five customer projects and has generated almost $175,000 in bookings during the fourth quarter of 2022, its first full quarter of operations, said the company.
From creating volumetric holograms for a Fortune 500 company's marketing campaigns to building a metaverse for one of the world's largest cryptocurrencies to co-producing music videos using volumetric capture and the latest real-time/virtual production technologies, to being selected as a metaverse partner to one of Canada's most important First Nation's cultural centres, Departure Lounge's impressive roster of clients speaks to the market potential for the firm’s services and solutions.
Departure Lounge was recently engaged by an indie record label to co-produce a four-minute music video and accompanying 3D VR experience. Within two weeks of the artists arriving at the volumetric capture stage for a single day of capture, Departure Lounge delivered a two-minute teaser that was included in the Vancouver International Film Festival's 'Signals', a curated selection of experiences that are exploring technology's potential in storytelling.
As production work continues on the full video, Departure Lounge is receiving early interest from the international film festival circuit to include the video in their official selections for 2023, noted the company.
Opportunity to license and operate studios
In addition to Departure Lounge's originally projected revenue streams, the company is recognizing the opportunity to license/operate similar studios around the world. Alongside sister company AMPD Technologies, Departure Lounge is under contract with one of Thailand's largest media companies to design a studio in Bangkok and is in discussions for similar work with well-funded groups in Europe and the Middle East.
Departure Lounge currently has 20 employees running studio operations, production, creative development, sales, and admin, and has expanded to include neighboring office space at the Center for Digital Media (CDM) on Great Northern Way in Vancouver.
“Departure Lounge expects to add at least 5-to-8 new full-time employees in the 1H of 2023, and several contractors to meet the expected increase in demand for creative and development services,” said the company.
In addition to its commercial operations, Departure Lounge supports the local community and digital media sector. The company said it was “extremely privileged” to, for the first time, volumetrically capture an Indigenous Welcoming Ceremony. As in-kind sponsors of Indigenous Fashion Week, the team volumetrically captured several incredible pieces by First Nations designers. The resulting holograms are slated to be used in future engagements, said the firm.
Departure Lounge hosted DigiBC's 25th-anniversary event in its studio and is supporting two student projects in conjunction with the CDM's Master of Digital Media program in 2023.
The company has a joint venture with 4D holographic capture pioneers Metastage Inc to bring their holographic capture platform to Canada. Departure Lounge was acquired by AMPD Ventures in December 2021 and operates as an independent business unit, while taking advantage of the cloud and compute solutions being offered by AMPD Technologies.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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