Nikon Corporation Acquires RED Digital Cinema, Expanding its Camera Portfolio
In a groundbreaking move, Nikon Corporation has announced its acquisition of RED Digital Cinema, a renowned camera manufacturer. This acquisition will see RED become a wholly owned subsidiary of Nikon Corporation, marking a significant expansion of Nikon’s camera portfolio.
The story of RED Digital Cinema began in 2005 when Jim Jannard, the founder of Oakley Sunglasses, recognized a gap in the market for high-quality digital cinema cameras. At the time, digital production workflows were gaining popularity, but existing digital video cameras failed to meet the standards required for high-end television and low-end movie production. Jannard’s vision was to create an innovative and affordable 4K digital cinema camera, surpassing the prevalent 2K standard.
To achieve this goal, RED embarked on a mission to develop a sensor that could match the exceptional quality of DSLR cameras, particularly in low-light conditions, without compromising on frame rate. The company succeeded in creating a sensor with a physical size comparable to analog film, bridging the gap between digital and traditional film production. The world got its first glimpse of RED’s capabilities at the 2006 NAB Show when Jannard unveiled the RED One camera, capturing the industry’s attention and generating preorders. The potential of the camera was further demonstrated in 2007 when director Peter Jackson shot his short film “Crossing the Line” using prototype RED One cameras. This groundbreaking film convinced director Steven Soderbergh to utilize RED technology for his film “Che,” marking a significant milestone in digital cinema.
With the official launch of the RED One camera in August 2007, RED swiftly became the go-to camera brand for television and movie production. Enthusiasts in the photography industry were captivated by this revolutionary camera, which offered raw video formats for greater flexibility in the editing process. Additionally, RED implemented compression algorithms to manage the vast amounts of data generated by the camera, further enhancing its appeal.
Despite Jannard’s retirement in 2013, RED’s legacy of innovation continued under the leadership of Jarred Land. The company’s cameras became a staple in the film industry, with over 25% of the top 100 grossing films shot on digital video in the U.S. utilizing RED cameras by 2016.
Nikon’s acquisition of RED Digital Cinema is not only monumental but also strategically shrewd. Canon has long held a strong position in the industry with its C-series cameras, and Sony’s cinema-line cameras have established themselves as industry stalwarts. Additionally, Fujifilm has made significant inroads with its offerings. By adding RED’s cameras to its brand, Nikon is poised to make a significant impact in the market.
The acquisition presents an exciting prospect for both Nikon and RED. With Nikon’s substantial resources and budget, it will be fascinating to witness what RED can achieve under this new partnership. The collaboration between these two industry giants is sure to yield groundbreaking advancements in digital cinema technology.
As Nikon Corporation expands its camera portfolio with the acquisition of RED Digital Cinema, the future of digital cinema looks brighter than ever before. With Nikon’s expertise and RED’s legacy of innovation, filmmakers can expect a new era of possibilities and unparalleled quality in their craft.