Cinram Acquires 1K Studios31 Jan, 2011 By: Chris Tribbey
When he joined replicator Cinram as its CEO in mid-2009, Steve Brown listed digital as a No. 1 priority for the company. If the Toronto, Ontario-based manufacturer was to compete with the likes of Technicolor and Sony DADC, it needed to find a way to compete in the digital arena.
“We’ve been looking for some time for a company that would fill that gap, that real strong digital background,” he said.
The Jan. 31 acquisition of Los Angeles-based digital media company 1K Studios gives Cinram the ammunition it needs for media delivery on digital platforms, Brown said.
“In the ever-evolving digital landscape, we must adapt our business model to meet our partners’ needs,” Brown said. “No matter how the delivery methods change, consumers continue to demand exciting experiences. 1K Studios is proven in delivering innovative, creative and valuable digital content. I’m convinced that with our combined resources and know-how we’ll offer clients a superior service.”
1K quickly became the front-runner to fill Cinram’s digital needs, Brown said, due to its experience working with a variety of A-list partners. 1K has done technical and creative services for Apple, HBO, Warner Bros. Home Entertainment and Paramount Home Entertainment, covering digital downloads, mobile, tablet applications, Blu-ray Disc, 3D and social media. By the end of the first quarter of 2011, Brown expects three to four digital projects to already come to fruition due to the acquisition.
“Cinram has a long history of re-inventing itself as media has advanced over the decades,” said Matt Kennedy, co-founder of 1K Studios. “We’re excited by the challenge of helping to bring about another transformation. We’re very enthusiastic about the prospects of our ideas, and emerging businesses being fostered inside Cinram’s global business infrastructure.”