But, at least for a week, virtual was back en vogue with two L.A.-area companies closing deals.
Santa Monica’s Dreamscape Immersive raised $20 million from movie theater giant AMC Entertainment Holdings Inc. in a Series B round. Half of the money will be used to build out six virtual reality centers at theaters in North America and the United Kingdom, including one at the newly renovated Westfield Century City Mall. AMC said it would invest an additional $10 million to develop content.
Dreamscape Chief Executive Bruce Vaughn said in a statement that his company is excited to work with the theater chain.
“We look forward to working with AMC to offer audiences the opportunity to actually step into and experience imaginative worlds previously only available through watching movies,” Vaughn said.
Dreamscape’s big haul was followed by a $4 million Series A funding announcement from Tripp Inc., another virtual reality company that claims to use the tech to alter moods. The round was led by Menlo Park-based Mayfield partner Tim Chang.
Tripp is led by founder and Chief Executive Nanea Reeves, who said in an open letter that the company would create an immersive experience.
“We are focused on using VR for stimulation rather than simulation,” Reeves said. “Taking a TRIPP will not be like anything that exists in the real world.”
BMG Production Music acquired Santa Monica independent production house Immediate Music, the companies announced last week.
The deal gives BMG a stronger foothold in the movie trailer soundtrack business. Composers and producers Yoav Goran and Jeffrey Fayman co-founded Immediate in 1993, producing original music for motion picture advertising, trailers, commercials and television programs. Recent Immediate trailer campaigns include “Wonder Woman,” “War for the Planet of the Apes” and “Star Wars: Rogue One.”
Fayman said that he and Goran’s dream has been to better direct and expose their cinematic music to a worldwide audience.
“BMG Production Music is highly focused with an expansive global reach,” he said.
BMGPM’s Berlin-based parent company, Bertelsmann Music Group, has a significant presence in Los Angeles, with offices on the Miracle Mile. BMG serves the film, broadcast, games and advertising industries.
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