With NAB 2024, one of the biggest stories in the film and video production industry this year might be just about to launch. Since Nikon announced its agreement to acquire RED Digital Cinema just over a month ago, we’ve been left with a host of questions and very few answers. (We got a short statement from RED Digital promising to not change its current products, but that’s about it.)
Now, with NAB starting to bring tons of new headlines and tech innovations in the field, it seems likely that this story will almost be forgotten over the next few weeks. But make no mistake, its potential to radically change the film and video industry is still there.
Nikon has also just now released a statement announcing that its acquisition of RED Digital Cinema is now complete. Here’s what we know so far.
Nikon Has Acquired RED Digital Cinema
As of April 8th, 2024, Nikon Corporate has announced that it has “successfully acquired 100% of the outstanding membership interests of RED.com, LLC (RED),” which in effect gives them 100% control of their ”revolutionary digital cinema cameras and award-winning technologies.”
“Welcoming RED, a company that has been at the forefront of innovative technology, to the Nikon family is sure to expand the possibilities of imaging expression, and further delight the market with its innovation. Combining the best of both companies and working together to develop new, distinctive products, is our goal and for the brand to remain the choice for fans of Nikon and RED, and possibly reach out to an even wider audience.” — Hiroyuki Ikegami, Executive Vice President and General Manager of Nikon’s Imaging Business Unit
And a quote from RED shares much of the same sentiment:
“I believe it is my mission as the representative of RED to develop the market in a way that will pay respect to the corporate cultures of RED and Nikon. You can look forward to RED’s future product development which will aim to meet and exceed the expectations of cinematographers around the world.” — RED CEO Keiji Oishi.
You can read the full statement from Nikon here.
What’s Next?
While we’re not anticipating any major announcements from this acquisition being made at NAB 2024, you never really know — so we’ll keep you updated if we hear anything from the conference floor this year.
Until then though, Nikon has shared that they still plan for there to be “no changes to RED’s current product lineup, partners, and relationship with the dealers,” and that “RED will continue to support its policies with warranties, repair services, customer services, and overall product support.”
And until we get more info to share, the rest is left to speculation about what might come out of this historic acquisition.
No Film School's coverage of NAB 2024 is brought to you by Blackmagic Design.
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