RealD and Cinépolis Sign Extension Making RealD Exclusive Global 3D Technology Provider
Cinépolis Plans to Equip At Least 400 Additional Auditoriums for a Minimum of 1,200 RealD Equipped Screens Across Latin America, USA and India
LOS ANGELES & MEXICO CITY--(BUSINESS WIRE)-- Global 3D technology licensor RealD Inc. (NYS: RLD) and Cinépolis, the largest cinema exhibitor in Latin America and fourth largest exhibition circuit in the world, today announced the signing of an extension to their July 2008 agreement which names RealD the exclusive global 3D technology provider for the Cinépolis circuit. The agreement also calls for at least 400 auditoriums across the Cinépolis circuit in Latin America, USA and India to be equipped with RealD 3D technology within the next twelve months. When combined with the approximately 800 auditoriums currently equipped with RealD 3D, the newly signed multiyear, exclusive agreement will see at least 1,200 total Cinépolis auditoriums enabled with RealD 3D.
"RealD delivers an immediately noticeable brightness advantage over other 3D technologies and a business model that allows us to cost effectively equip a wider footprint of our auditoriums with their premium 3D presentation," said Miguel Mier Esparza, COO, Cinépolis. "Through this exclusive global relationship we expect to equip at least 40 percent of our auditoriums with RealD 3D so we can better accommodate the many 3D titles being released during the summer and holiday seasons while assuring the best available 3D experience for our customers."
"Cinépolis is a fast growing, global circuit that recognizes the performance advantage of RealD 3D based on our double the brightness of other 3D technologies," said Marlene Songin, Vice President, Cinema at RealD. "With this commitment to equip a large footprint of their auditoriums exclusively with RealD 3D, Cinépolis will have the flexibility and bandwidth to accommodate the high moviegoer demand for RealD 3D across their theatre locations."
RealD is the world's most widely used 3D cinema technology with approximately 22,700 screens equipped with RealD 3D by approximately 1,000 exhibitors in 68 countries around the world (as of March 31, 2013).
Cinépolis is currently located in 126 cities in eleven countries and operates approximately 3,100 screens in 344 theatres.
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, content producers and distributors to enable the delivery and viewing of 3D content on a variety of visual displays and devices.
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.
Cinépolis is the world's 4th largest movie theater circuit, operating more than 3,000 screens in 11 countries and serving more than 116 million patrons annually. The company operates its screens under four different brands that span across the ultra-premium to the extreme value segments. Cinépolis was the first cinema exhibitor in the world to pioneer the concept of premium and luxury movie theaters via its Cinépolis VIP brand. The company aspires to provide its patrons the best overall experience in filmed entertainment and employs a global workforce of 18,448 people to support its mission. Founded in 1971, privately held Cinépolis is headquartered in Morelia, Mexico.
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 Cinépolis circuit and the growth of the 3D cinema industry. 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 Mexico Asia Pacific North America Central America California India
The article RealD and Cinépolis Sign Extension Making RealD Exclusive Global 3D Technology Provider originally appeared on Fool.com.