Nikon, the renowned still-image camera company, has made a significant move to expand its presence in the professional digital cinema camera market by acquiring Red Digital Cinema. The deal, which sees Red becoming a wholly owned subsidiary of Nikon, was announced through a press release. While the financial details of the acquisition remain undisclosed, the move is expected to bolster Nikon’s position in the fast-growing digital cinema camera market.
Red Digital Cinema, founded in 2005 by Jim Jannard, the founder of Oakley sunglasses company, has established itself as a major player in digital film production. In 2016, at the peak of its market share, over 25 percent of the top 100 grossing domestic films were shot using Red cameras. The company’s cameras are also popular among prominent YouTubers, indicating further potential for growth. Red initially gained recognition as a pioneer in 4K digital filmmaking, with Peter Jackson’s groundbreaking film “The Hobbit” serving as a famous example of their innovative technology. However, since then, competitors have caught up and Red faced setbacks with a poorly received smartphone venture.
The acquisition is seen as a significant milestone for Nikon, as it combines their rich heritage in professional and consumer imaging with Red’s innovative prowess. Jarred Land, President of Red, expressed his excitement about the partnership on Facebook, stating that Nikon and Red are poised to redefine the professional digital cinema camera market. He also emphasized their commitment to pushing the boundaries of film and video production through exciting future product development.
Interestingly, Red and Nikon have had a history of legal disputes. A few years ago, both companies were involved in lawsuits against each other. Red holds a wide-ranging patent for compressed RAW video and has been suing various companies, including Nikon, Sony, Apple, and Kinefinity. These lawsuits resulted in agreements being reached, with companies either refraining from shipping compressed RAW or entering into licensing agreements with Red. With Nikon now taking ownership of Red, it remains to be seen how they will navigate the landscape of digital video patents and their future approach to enforcing them.
The acquisition of Red Digital Cinema by Nikon marks a strategic move by the camera company to expand its presence in the professional digital cinema camera market. With Red’s expertise and Nikon’s heritage, the partnership holds great promise for pushing the boundaries of film and video production. As the two companies join forces, the future of digital cinema cameras looks exciting and full of potential.
