Avatar director takes 3D to China
Famed Avatar director James Cameron and Vince Pace have teamed up to market potentially lucrative 3D technology in China.
The corporation - which has been dubbed "Cameron Pace Group" - also includes two local partners who have agreed to supply 3D film tech-production service.
In addition, the partners are already negotiating with China Central Television to develop 3D television programming and channels for millions of viewers.
"This is an enormous untapped market that is right on the verge of the transition from 2D to 3D," Cameron told the Associated Press. "This is the best place for us to create a kind of second home."
China is a significant market for the television and film industry, with ticket sales increasing by one third last year to a whopping $2 billion. Although ticket sales in the US clock in at a much higher $10.2 billion, revenue has declined over the past two years.
It should be noted that the Cameron Pace Group has already provided 3D technology for films in the US.
"We expect it to expand very rapidly, from initially maybe a handful of productions a year to, two or three years from now, we could be talking about thousands of hours of TV production. That's our goal, in any case," Cameron added.