The Elvis hologram will have to wait.
The company responsible for the groundbreaking CGI-projected image of deceased rapper Tupac Shakur, as well as the upcoming Elvis Presley hologram, has filed for bankruptcy protection.
Digital Domain Media Group, which made headlines in April after unveiling an uncanny light-projected performance of Tupac during a headlining set by rappers Snoop Dogg and Dr. Dre at Coachella music festival, filed for Chapter 11 Bankruptcy protection on Tuesday.
According to CNN, DDMG, which is co-owned by Oscar-winning film director James Cameron, had been struggling financially for some time now, despite its lauded special effects work for a string of blockbuster movies that include Titanic, Pirates of the Caribbean, Transformers, and The Curious Case of Benjamin Button.
Indeed, there were high hopes that the music business would provide a more consistent revenue stream for Digital Domain, which was developing a similar hologram treatment for Presley and in talks with the estates of other rockers, according to Billboard. (It’s worth noting that other companies are developing similar technology, such as London-based company Musion Systems, which has been working with the Experience Hendrix Estate to create a virtual Jimi Hendrix.)
Searchlight Capital Partners are now set to buy Digital Domain for $15 million (pending a court approval of the transaction), so there’s still hope that The King, in hologram form, will be coming soon to a stage near you.
– Jillian Mapes & Keith Murphy, CBS Local