Issue 2 2020

Acquisition International - Issue 2 2020 13 Dec19213 Breaking new ground in a new market is an immense challenge, but when it pays off, it pays massively. For Magnify World, the world of Virtual and Augmented Reality is only just taking off, and it is at the forefront of this digital revolution. In the light of its award triumph, being named Best Specialist VR/AR Marketing Company 2020 – USA, we profile the company to find out more. Escape From Reality he world of VR/AR is a relative newcomer in the field of digital media. It opens tremendous opportunities for storytelling, marketing and exploration on a broader scale. Magnify World is a business specifically designed to drive this progress forward, with its expo and business summit attracting over 6,000 industry professionals and major brands over the last four years. Launched nearly five years ago and hosted in locations around the world from Toronto to Shanghai, Auckland to Melbourne, Magnify World’s expo and business summit has showcased consumer and business experiences, while highlighting the possibilities of combining technologies like artificial intelligence. Scouring the globe for those innovators, dreamers and rule-breakers who want to make an impact in this exciting new world, the boutique style of Magnify World’s marketing and events has provided the opportunity for Fortune 500 brands to mix with selected high-quality start-ups from around the world. As an early adopter of VR/AR, Magnify World has had a major advantage in being one of the first businesses to market, and therefore able to play a part in defining the direction of this exciting new technology. It also meant that the company received a great deal of press, inspiring the attendance of 1,200 delegates at its initial event. Maintaining a clear focus was critical in achieving success, with the key industries selected being film and television, live events/ entertainment, tourism, education and gaming. With most clients being consumer orientated, the challenge is not only to engage the younger demographic but also to hold their attention. The explosion of social media and streaming in recent years, and now 5G aligning all these technologies together has created the potential for VR/AR to thrive, demonstrating that families and younger generations will try new experiences. It’s no wonder, therefore, that the high-profile companies attending Magnify World’s expos include SNAP, Google, Samsung, Facebook, VIACOM, and NBC amongst others. While the benefits of VR/AR to gaming is already clear, with PlayStation VR and Oculus Rift taking the market by storm, using this technology in new ways is a clear priority. Innovations in the sports and streaming market are presenting new opportunities that will grow the market. Taking advantage of fan engagement, the use of new technologies enable unique experiences for fans, offering real time data or gaming using AR/VR is unique, while a recent project for the company revolved around the LA Lakers bringing world class partners to power fan predictions of what will happen next. This will allow fans to embrace new strategies, winning prizes and answering trivia and drive new forms of sponsorship and advertising for the team. T Another example which we believe is a world’s first was developed for Telemundo around their live coverage of the Billboard music awards using AR TV. It was an early example of how the hosts interacted with the broadcast/OTT audience and offered them a broadcast image trigger for fans to gather backstage exclusive footage and 3D images they could post on social media. The future of VR/AR really lies in the adoption of it on a large scale. AR seems set to take the lead, with most mobile devices able to activate digital images and apps such as Snapchat leading the market with the ability to apply facial app experiences. For Magnify World, the potential of the market is boundless, with most companies only just scratching the surface. While a lot of work is in various forms of media, one client is working on a smart city project, trying to best apply new immersive technologies to improve life experiences not only from a consumer standpoint, but also for business. In many ways, the work of Magnify World is not just in the development of this technology but finding ways to link it into pre-existing systems. To increase economic development in these regions we have created a number of government partnerships in locations around the world in setting up localised VR/AR business events and are expanding into more cities and sectors of the market. The growth of marketing companies like Magnify World reflect the increasing influence of immersive technologies and the importance of applying specific strategies. The company is able to work with some of the best development teams and experts in the world, this is a company that has had the advantage of impressive in-depth knowledge of the field. It’s clear this has helped to make Magnify World more than a virtual success. Company: Magnify World Contact: Matt Coleman Web Address: www.magnifyworld.com