In a surprise announcement this morning, Nikon announced that they are set to acquire US cinema camera manufacturer RED. With RED due to become a wholly owned subsidiary of the Japanese camera giant, this will surely make Nikon a force to be reckoned with, not only in the photography world but also in the filmmaking world.
It is no secret that Nikon has been behind their rivals in recent years regarding video. Sony, Canon, and other manufacturers have long had a strong video game in the hybrid space, but Nikon just could not seem to find that balance until recent years. The launch of the Z8 and Z9 has seen a massive improvement for Nikon, and combining that with this acquisition, Nikon could be onto a winner.
The move is still due to be finalized as it is subject to a Membership Interest Purchase Agreement with James Jannard, its founder, and Jarred Land, its current President.
RED was founded in 2005 by James Jannard and is based in Foothill Ranch, California, with approximately 220 employees. RED's cameras have been used for a vast range of high productions within the film, TV, and documentary universe. A few examples of such productions are:
- The Hobbit: An Unexpected Journey (Film)
- Jurassic World (Film)
- The Amazing Spider-Man (Film)
- The Falcon and the Winter Soldier (TV)
- The Boys (TV)
- Frozen Earth II (Documentary)
- Limitless with Chris Hemsworth (Documentary)
With just a few examples named above, it is clear that RED is no slouch in the cinema camera world, and there are many more amazing productions that even I was unaware of.
This could be a very exciting time for Nikon shooters going forward, especially if you love to shoot video!
In the press release from Nikon, they say:
"Since its establishment in 2005, RED has been at the forefront of digital cinema cameras, introducing industry-defining products such as the original RED ONE 4K to the cutting-edge V-RAPTOR [X] with its proprietary RAW compression technology. RED's contributions to the film industry have not only earned it an Academy Award but have also made it the camera of choice for numerous Hollywood productions, celebrated by directors and cinematographers worldwide for its commitment to innovation and image quality optimized for the highest levels of filmmaking and video production.
This agreement was reached as a result of the mutual desires of Nikon and RED to meet the customers’ needs and offer exceptional user experiences that exceed expectations, merging the strengths of both companies. Nikon's expertise in product development, exceptional reliability, and know-how in image processing, as well as optical technology and user interface along with RED’s knowledge in cinema cameras, including unique image compression technology and color science, will enable the development of distinctive products in the professional digital cinema camera market.
Nikon will leverage this acquisition to expand the fast-growing professional digital cinema camera market, building on both companies' business foundations and networks, promising an exciting future of product development that will continue to push the boundaries of what is possible in film and video production."
Woooooah this is wild. The future is very interesting indeed.
It could be very interesting!