Sadly I'm going to have to call 'fake'.

First, "project blue beam" is a conspiracy theory idea that claims things like the planes that flew into the twin towers were really holograms, or that there's an alien invasion program creating odd holographic images to confuse humans, or aliens are using holograms to present us with a false messiah/Jesus/Gawd/4 horsemen of the apocalypse. Uh...yeah.
Second, I notice that only a single person in the background audience has a reaction that might be attributed to seeing a whale jump at you, the rest just clap casually.
Third, there are many clear artifacts at the whale's edge where they photoshopped it in.

I wish holograms were at this level today, and they should be, but they aren't. Projecting white into a bright 3D space doesn't work without smoke or mist to project on, and even then it's only really visible when the surroundings are darker.

Ok, tell me what you think of this. https://www.youtube.com/watch?v=5CqUYBopWLs I believe you are right, however, it's a pretty cool video..the one I listed here for you to check out has had some controversy over whether it is real or not.

I think like the first comment there said, they're more like projections and overlays, not holograms.
My guess is that most of what we see is either added on top of the live video of the people, not actually projected amongst them, and the other one (in the dark) is like a planetarium movie, 360 surround, maybe even 3D, not hologram.

Now THIS was holographic, and awesome (I saw it in person), and it's a terrible shame that now, 30 years later, we still don't seem to have this technology outside of concerts.....(sorry for the quality of the video)
*related=http://videosift.com/video/Vancouver-Expo-86-Part-III-GM-Holographic-Exhibit

Vancouver - Expo 86 - Part III- GM Holographic Exhibit has been added as a related post - related requested by newtboy.

Yeah, no, a CG whale comped into a shot of a non-responding audience isn't a hologram. The video linked in Gratefulmom's comment is just AR, not a hologram - they're looking at themselves in a video monitor that's got CG animals overlaid on the feed. And the Vancouver Expo video is probably an example of the Pepper's ghost illusion, like the recent "hologram" of 2Pac, rather than actually holographic.

And good call on the "Project Blue Beam" bullshit.

All the kids were watching to the left of where the action was happening, enough so to throw me off completely from the illusion, though some do follow it to the center as it goes on. If this isn't added in post, I'd guess this is using something akin to the Dubai video above, and like the video projections on buildings. They map the space, then when the audience is there, project the image live to a monitor, which is what the kids were watching to the left.

Basically it is an improved version of the goal line and projection seen on American Football games. That technology has come a long way with far more information being displayed on the field of play.

This would be a natural progression the technology and I'm surprised we don't see ads and the like on the field while watching a game. While American Football is filled to the brim with ad space, one of the problems American TV has with the "beautiful game", soccer here and a few places, football to most of the world, is the lack of ad time. I wouldn't be surprised to see mini ads playing around the action. Joe the Cameraman just keeps the action to the left half of the screen, and the right half has an ad on the field... perhaps starting off subtle, could be tied to the video monitors on the sideline of the fields that are already showing ads. Just amp that up... not a future one really wants to see, but I'd guess it is coming as more people ad skip.

*timeshift

Adding video to channels (Timeshift) - requested by ant.

I can tell you unequivocally that this is in now way a "hologram". Without a medium for the light to interact with, (a screen, water, smoke, etc), there currently exists no technology to create a visual in open space anywhere near this defined.
If this is actually claiming to be some sort of live hologram displayed in real-time in this environment, I can go into extremely technical detail about why it's not, or rather "fake", but I didn't get the impression that was being claimed anywhere. It's just the video of the title here and on youtube. I didn't look that far into it, but then.. wait... what the fuck?
http://rationalwiki.org/wiki/Project_Blue_Beam

https://www.youtube.com/watch?v=KfVS-npfVuY

This is state of the art of "true" holograms.

@newtboy, I went to Expo86 and saw that, very cool. Unfortunately, I wouldn't call it holography. You were basically standing in a huge SLR camera. There was a piece of angled glass between you and the set, reflecting a scene technically over your head.

*lies

Invocations (lies) cannot be called by artician because artician is not privileged - sorry.

This is just a promotional video from Magic Leap, it's right on their main page: http://www.magicleap.com/#/home

They make AR technology, and nobody in the scene is wearing a headset, so it's just a concept thing they put together.