The next big hotspot for entertainment isn’t Hollywood – it’s actually Vancouver.
Vancouver, a bustling coastal seaport city located in British Columbia, Canada, has become an entertainment mecca that is penetrated with actors, directors, producers and content creators.
This year Forbes has also said that “when it comes to global tech hotspots, few can match the supersonic growth of Vancouver.” There’s a reason why Amazon intends to bring a staggering 3,000 jobs to the province in the next few years. Vancouver is coming up quickly.
Dubbed “Hollywood North”, as Vancouver is located north of California’s namesake Hollywood, the province has become a top feature production location and is home to several blockbuster movies (think Deadpool and The Twilight Saga) as well as hundreds of television shows.
One company recognizing the significant value of this province is Liquid Media Group (NASDAQ: YVR), a vertically integrated global studio that through its network of shared services, is producing content for all platforms including film, television, gaming, and virtual reality (VR).
The company only recently started to trade on the NASDAQ through a merger and it looks like its stock is currently flying under Wall Street’s radar.
Joshua Jackson, a Canadian/American actor who is best known for his roles on Dawson’s Creek and Showtime’s The Affair is sitting on the company’s board as Chairman. With over twenty years in the entertainment industry and now the chairman of Liquid Media Group (NASDAQ: YVR), he may quickly catapult the company to the forefront of a major arena, all while creating tremendous shareholder value.
The monstrous demand for media entertainment content has created an enormous opportunity for Liquid Media Group (NASDAQ: YVR) to capitalize on and seize market attention.
With an extensive network of industry executives and financial partners, Liquid Media Group (NASDAQ: YVR) is poised to innovate and deliver creative content from inspiration all the way through to distribution.
Through its portfolio, the company is already helping content producers across industries and genres bring next-generation stories to life for screens of all sizes and types.
The company is harnessing the thriving entertainment industry in Vancouver and has deep roots inside the city, deep local knowledge, and direct access to content creators for the global market.
Many may think that Los Angeles is the number one city for movie production, but in fact, it’s third. According to magazine MovieMaker, Vancouver and New York tied for first place last year for the best big cities in North America to work as a moviemaker.
British Columbia offers competitive tax credits, specifically a base refundable 28% credit as well as the potential for an additional 6% credit depending on the region and 16% credit for digital animation or visual effects. It’s no wonder Vancouver is home to over forty thousand Film, TV, VFX, Animation, and Video Game professionals and is one of the world’s VR/AR hotspots.
Forbes even referred to the province as a supercluster. Huge names such as Sony Pictures Imageworks, Industrial Light & Magic (ILM), MPC, Double Negative, DHX Media, Animal Logic and Bardel Entertainment all have offices there.
Vancouver also has one of the top Video Game clusters in the world with major publishers that include Electronic Arts (EA), Microsoft, Capcom and Nintendo.
This September the province hosted the VR/AR Global Summit, the premier marketplace and conference for industry leaders in immersive technology content, knowledge, and creation.
Despite Vancouver’s large entertainment market, the city’s production process – from inception to distribution – is highly fragmented. There is more than US$2.9 billion being spent each year on film and television production services in Vancouver’s fragmented film and entertainment market.
Liquid Media Group (NASDAQ: YVR) intends to leverage the talent in the province as well as develop its own material and content.
Liquid Media Group (NASDAQ: YVR) is aiming to become a leader in the burgeoning video game space and has a majority (51%) interest in Majesco Entertainment Company, an innovative video game developer, marketer, and publisher with more than 25 years of history in the interactive entertainment industry.
The media entertainment industry has exploded domestically and globally. By 2022, Statista estimates that virtual and augmented reality combined will generate US$209.2-billion in sales revenues. On the gaming front, Statista forecasts that the global video game market will surpass US$138-billion by 2021.
Majesco has published hundreds of video games, including more than 17 titles since 2010 via digital networks such as Xbox Live Arcade, PlayStation Network, and Steam, and for mobile devices and online platforms.
The company also holds a 49% interest in Waterproof Studios Inc., a digital production company that provides industry-leading computer-generated imagery, visual effects and animation content for video games, traditional film and TV studios, distributors and streaming service providers. Waterproof clients include Sony, SEGA, Warner Brothers and more.
Virtual reality (VR), animation and video games, are now available to the masses everywhere they go due to the advancement of technology and Liquid Media Group (NASDAQ: YVR) has multiple video game properties in production at various levels in the pipeline.
Liquid Media Group (NASDAQ: YVR)’s feature film business has a series of agreements that cover various stages of financing, development and/or co-production.
Company projects in development or in pre-preproduction include My Haunted House and Ophelia.
While Liquid Media Group (NASDAQ: YVR) is creating its own content, there is huge potential to produce the content of others in Vancouver.
Deadpool, starring Ryan Reynolds, gave Vancouver a significant financial boost with CA$40M spent in the city by producers. Deadpool 2’s budget is now reportedly increased by around CA$50M. The first film grossed $600M!
Liquid Media Group (NASDAQ: YVR) is also offering creative professionals the ability to access content-creation tools and storage from any “Liquid Everywhere” location or virtually.
Professionals working outside of a Liquid site – from soundstages to coffee shops – can leverage the company’s technology to create and orchestrate content using rented applications, computers and storage running in the cloud. All they need is a laptop and a modest broadband connection.
The company’s “Liquid Everywhere” facilities will create efficient, secure workflows and meet growing global demand for content, including virtual augmented and mixed reality (VAMR), by producing projects in Vancouver for a worldwide audience.
The company is offering these “studio as a service” capabilities from anywhere through high-speed, secure access so that individual digital artists, teams, special effects companies, and studios can complete their design and render work using the latest applications and most powerful servers. They can rent the software they need for as long as they need it – even if it’s just for one day.
Liquid Media Group (NASDAQ: YVR) envisions that this technology via specially equipped facilities, which are already being used by Netflix, Sony as well as Amazon Productions and their network of related production companies, will be a strong area of growth for the company.
Content has become more immersive and is a major revenue stream today. Giants like Amazon and Netflix are spending billions upon billions on content.
Netflix this past summer broke records with 8.3 million quarterly subscriber additions, which the company attributed “to stronger-than-expected acquisition fueled by our original content slate and the ongoing global adoption of internet entertainment.”
It’s a content race today as Amazon and Netflix pour their budgets on original content with the goal of getting as many subscribers globally as possible.
The gaming industry, as well as movies, are two massive industries. They play a big part in our culture and with gaming becoming virtual, it’s opening a wondrous world to consumers. According to Variant Market Research, the global Virtual Reality in the Gaming Market is estimated to reach $43.4 Billion by 2024; growing at a CAGR of 29.5% from 2016 to 2024.
With a well-diversified portfolio of integrated digital production companies, Liquid Media Group (NASDAQ: YVR) may soon be an absolute powerhouse… tapping into Vancouver’s creation of world-class content and entertainment options!