MOSCOW--(EON: Enhanced Online News)--Russia’s leading national cinema circuit, CINEMA PARK, and global 3D and visual technology licensor RealD Inc. (NYSE:RLD) announced today an agreement to equip up to 200 cinema screens across CINEMA PARK’s locations with RealD’s 3D technology. Installations have already begun and are expected to be completed within 5 years.
“Moreover, the new ‘LUXE: A RealD Experience’ auditorium, featuring a massive screen, higher brightness and immersive sound, will let us increase the quality of the premium out of home experience to a new level.”
The companies also plan to install a “LUXE: A RealD Experience” Premium Large Format (PLF) auditorium at CINEMA PARK’s Grand Canyon theatre location in St. Petersburg. Featuring a floor-to-ceiling RealD Precision White Screen, ultra bright 2D and RealD 3D, enveloping audio and luxury seating for a premium movie-going experience, the “LUXE: A RealD Experience” auditorium is expected to open during the winter of 2013.
“Eighteen major Russian cities where CINEMA PARK is present will get the unique opportunity to watch films on a RealD Precision White Screen paired with the high brightness and contrast of RealD 3D. Now, the world’s highest standard for 3D cinema will be available not only to moviegoers in Moscow and St. Petersburg but to those living in the remote cities of our country,” said Mr. Sergey Kitin, General Director of the national cinema circuit CINEMA PARK. “Moreover, the new ‘LUXE: A RealD Experience’ auditorium, featuring a massive screen, higher brightness and immersive sound, will let us increase the quality of the premium out of home experience to a new level.”
Robert Mayson, Managing Director of RealD Europe, commented: “Russian moviegoers continue to show a real passion for premium quality cinema, and this agreement highlights our commitment to this growing audience. CINEMA PARK is a prestigious exhibitor with ambitions that match our own and we are proud to have secured this deal to continue to expand our offering of RealD 3D and ‘LUXE: A RealD Experience’ in the region.”
“LUXE: A RealD Experience” is the Premium Large Format (PLF) initiative introduced by RealD at CineEurope 2013 with the aim of unifying the exhibition community under a single brand with a goal of becoming synonymous with the ultimate out of home entertainment experience. Minimum standards will assure all “LUXE: A RealD Experience” auditoriums feature massive screens, ultra bright 2D and 3D, enveloping audio and luxury seating for a premium movie-going experience. “LUXE: A RealD Experience” auditoriums will provide full flexibility with content, allowing exhibitors to show any movie at any time for optimized profitability.
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 Cinema Park
Russia’s largest cinema circuit CINEMA PARK is the leader of the Russian cinema-exhibition industry and is ahead of its competitors in terms of screen number, and the pace of digitalization. In the Russian territory CINEMA PARK holds an exclusive partnership with CJ 4DPLEX Co. Ltd., the developer and operator of 4DXтм technology for full-length movie-screening. Currently, the company holds a leading position for total box-office results among Russian cinema circuits, and operates 30 multiplexes (281 screens in total, out of which 226 screens are 3D enabled) in 18 of Russia’s largest cities.
CINEMA PARK was founded by a Russian group of companies, “ProfMedia,” which is part of INTERROS holdings. The network launched its first multiplex in 2004 in Moscow. Detailed information is available at the web-site www.cinemapark.ru.
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, including a “LUXE: A RealD Experience” auditorium, across the CINEMA PARK 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.