RealD and Zhejiang Xingguang Cinema Circuit Sign Agreement to Install RealD 3D in 50 Cinema Auditoriums
Approximately 1,100 Screens Now Equipped with RealD 3D in China
BEIJING & LOS ANGELES--(BUSINESS WIRE)-- RealD Inc. (NYS: RLD) , a leading global licensor of 3D technologies, and Zhejiang Xingguang Cinema Circuit today announced an agreement to equip 50 auditoriums across the Zhejiang Xingguang Cinema Circuit in China with RealD 3D technology. Installations across the Zhejiang Xingguang Cinema Circuit have already begun.
"The Zhejiang Xingguang Cinema Circuit is a high-standard cinema circuit and a leading brand in east China," said Fu Haifang, General Manager of Zhejiang Xingguang Cinema Circuit. "We are dedicated to providing the highest standard services to moviegoers including being the first in each city to install the most advanced screening technologies. Our cooperation with RealD further proves our pursuit of the highest quality presentation."
"China continues to be a key growth opportunity for RealD and these installations of RealD 3D across the Zhejiang Xingguang Cinema Circuit will further broaden the availability of RealD's premium and immersive theatre experience," said Edman Chan, General Manager of Asia for Cinema at RealD.
Zhejiang Xingguang Cinema circuit currently owns 32 cinemas comprising 203 screens, which are located across 6 provinces in east China, including high-grossing regions such as Zhejiang, Jiangsu and Guangdong. By 2015, the company aims to expand into China's first tier cities and plans to increase its branch cinemas to a total of 50 cinemas and 500 screens.
RealD 3D is currently available on approximately 1,100 cinema screens in China with future commitments for approximately 1,100 additional installations for a total of approximately 2,200 screens.
RealD is the world's most widely used 3D cinema technology with approximately 22,200 auditoriums equipped with RealD 3D by approximately 1,000 exhibitors in 68 countries around the world (as of December 31, 2012).
About RealD Inc.
RealD is a leading global licensor of 3D technologies. RealD's extensive intellectual property portfolio is used in applications that enable a premium 3D viewing experience in the theater, the home and elsewhere. RealD licenses its RealD Cinema Systems to motion picture exhibitors that show 3D motion pictures and alternative 3D content. RealD also provides its RealD Display, active and passive eyewear, and RealD Format technologies to consumer electronics manufacturers and content producers and distributors to enable the delivery and viewing of 3D content. RealD's cutting-edge 3D technologies have been used for applications such as piloting the Mars Rover.
RealD was founded in 2003 and has offices in Beverly Hills, California; Boulder, Colorado; London, United Kingdom; Moscow, Russia; Shanghai, China; Hong Kong; Tokyo, Japan; and Rio de Janeiro, Brazil. For more information, please visit our website at www.reald.com.
About Zhejiang Xingguang Cinema Circuit
The Zhejiang Xingguang Cinema Circuit was established in May 2002 as a nation-wide cinema management brand which is set up under the permission of State Administration of Radio, Film and Television (SARFT). The company is a subsidiary company of state-owned Hangzhou Culture and Broadcasting Group, currently managing 32 cinemas. The company engages in film distribution and exhibition, cinema investment, development and management, film investment, equipment rental, film advertisement and the development of movie derivative products.
Based in east China, the Yangtze River Delta economic circle, the Zhejiang Xingguang Cinema Circuit has developed into southern and central China.
Cautionary note on forward-looking statements
This press release includes forward-looking information and statements, including but not limited to: statements concerning the anticipated rollout of RealD 3D technology across the Zhejiang Xingguang Cinema Circuit and the growth of the cinema industry in China. These statements are based on RealD's current expectations and beliefs, as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside RealD's control that could cause actual results to differ materially from the results discussed in the forward-looking statements. RealD's annual and quarterly reports include a more detailed discussion of the risks and uncertainties that may cause that could cause actual results to differ materially from the results discussed in the forward-looking statements.
RealD undertakes no obligation to update publicly the information contained in this press release, or any forward-looking statements, to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.
KEYWORDS: United States Asia Pacific North America China California
The article RealD and Zhejiang Xingguang Cinema Circuit Sign Agreement to Install RealD 3D in 50 Cinema Auditoriums originally appeared on Fool.com.
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