RealD and UME International Cineplex Sign Exclusive 3D Cinema Agreement Expanding to 100 Screens Across China
UME International Cineplex to Install RealD 3D Technology on Additional 50 Screens Across Northern China Locations
BEIJING & LOS ANGELES--(BUSINESS WIRE)-- Global 3D and visual technology licensor RealD Inc. (NYS: RLD) and UME International Cineplex announced today an agreement to install RealD 3D technology on an additional 50 cinema screens across UME International Cineplex's Northern China locations. Combined with the 50 current RealD 3D installations at UME International Cineplex's Southern China locations, UME International Cineplex will have a total of 100 RealD 3D equipped screens across its circuit. Under the terms of the expanded agreement, RealD becomes the exclusive circuit wide 3D technology provider for UME International Cineplex. Installations of RealD 3D technology at UME International Cineplex's Northern China locations have already begun.
"Currently, the world's brightest 3D projection technology is provided by RealD. UME International Cineplex Group will exclusively use the latest 3D technology of RealD. Among Chinese moviegoers, there is a tremendous demand for 3D movies, and there are more and more 3D movies being made and released. I believe RealD will have great prospects in China," said See-Yuen Ng, founder and chairman of UME International Cineplex.
"It is exciting to see UME's continued development in the China cinema market and RealD is honored to be a part of it," said Edman Chan, RealD's Vice President and General Manager, Cinema, Asia Pacific. "Together, we will deliver the bright, lifelike and immersive visual experience for the viewing audience that has become synonymous with RealD 3D."
Since opening their first cinema in 2002, UME International Cineplex has been dedicated to delivering the ultimate movie experience to Chinese audiences. By the end of 2013, UME International Cineplex expects to be operating 22 cinemas, 253 screens and 31,700 seats, with box office revenues estimated to exceed 600 million RMB.
RealD 3D is currently available on approximately 1,300 cinema screens in China with future commitments for approximately 1,000 additional installations for a total of approximately 2,300 screens.
The world's most widely used 3D cinema technology, RealD 3D is installed in approximately 23,500 auditoriums by approximately 1,000 exhibitors in 74 countries around the world (as of June 30, 2013).
About RealD Inc.
RealD is a leading global licensor of 3D and other visual technologies. RealD's extensive intellectual property portfolio is used in applications that enable a premium 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 and other premium 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.
About UME International Cineplex
UME International Cineplex, founded by well-known Hong Kong film producer See-Yuen Ng, is a well-known cinema chain in China. UME is the initials of Ultimate Movie Experience.
Since the launch of the first UME International Cineplex in Beijing's technology district Zhongguancun in 2002, UME International Cineplex has extended to major Chinese cities including Shanghai, Chongqing, Hangzhou, Guangzhou, Nanjing and Chengdu with more than 20 cinemas. By the end of 2013, UME will be operating 22 cinemas, 253 screens and 31,700 seats, with box office revenue estimated to exceed 600 million RMB.
UME International Cineplex is one of the first ISO9001 certified cinema brands of China. UME was also the first cinema to set up themed auditoriums cooperating with major brands such as Hello Kitty and Coca Cola. UME has been the first-choice venue for international or local gala premieres. It has also hosted culture themed film festivals featuring French, Italian, Japanese and Korean film showcase.
With quality projection, quality service and quality environment, UME International Cineplex has become a crucial part of the fast-growing Chinese film market. UME will continue to deliver the Ultimate Movie Experience to the Chinese audience and will endeavor to achieve greater success in the Chinese film market.
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 UME International Cineplex 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.
Rick Heineman (RealD)
Loye Gu (UME International Cineplex)
+86 21-6384 -1188
Andrew Greenbaum / Laura Bainbridge (RealD)
KEYWORDS: United States Asia Pacific North America China California
The article RealD and UME International Cineplex Sign Exclusive 3D Cinema Agreement Expanding to 100 Screens Across China originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.