MOSCOW, Russia--(EON: Enhanced Online News)--Global 3D and visual technology licensor RealD Inc. (NYSE: RLD) and leading Russian theatrical exhibitor Karo Cinemas announced today an agreement to install 10 “LUXE: A RealD Experience” auditoriums in Karo cinemas in key Russian markets. Recently introduced by RealD as a new Premium Large Format (PLF) initiative, initial “LUXE: A RealD Experience” auditoriums will be installed at Karo locations in Moscow and St Petersburg, and are expected to open this winter. An additional eight “LUXE: A RealD Experience” auditoriums are expected to be installed at new Karo locations across Russia and are expected to begin to open at the end of 2Q 2014. All 10 “LUXE: A RealD Experience” auditoriums opened at Karo locations will feature RealD 3D projection and a RealD Precision White Screen.
“We look forward to working with Karo to bring the ‘LUXE: A RealD Experience’ brand to life so moviegoers can experience the assured quality 2D and 3D visuals, audio and seating that will combine to create the ultimate out of home entertainment experience.”
“‘LUXE: A RealD Experience’ auditoriums hold the promise of a new, unified Premium Large Format brand moviegoers will find synonymous with the best available cinema experience,” said Michael V. Lewis, CEO of RealD. “We look forward to working with Karo to bring the ‘LUXE: A RealD Experience’ brand to life so moviegoers can experience the assured quality 2D and 3D visuals, audio and seating that will combine to create the ultimate out of home entertainment experience.”
“As a leading circuit in the rapidly growing Russian market, we strive to offer the very best possible movie-going setting for our filmgoers,” said Paul Heth, CEO of Karo Cinemas. “‘LUXE: A RealD Experience’ is the perfect initiative to define our 2D and 3D premium offering. Alongside RealD, we will continue to strive to provide our audiences a unique, fully immersive, highly technically advanced visual and sound experience.”
“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.
All “LUXE: A RealD Experience” auditoriums will meet minimum technology specifications to assure a premium cinema experience, such as: usage of RealD 3D, the industry’s brightest 3D projection technology; wall-to-wall / floor-to-ceiling screens of at least 16 meters in width; 3D sound; auditorium rakes to optimize patron’s views and more. Additional exclusive new technologies to be announced are expected to be incorporated into “LUXE: A RealD Experience” auditoriums.
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 Karo Film
The Karo Film Group was founded in 1997. It established new standards in Russia for movie theatres. Today, Karo Film is a leading motion picture exhibition company owning and operating 30 modern movie theatres comprising of 196 screens in Moscow, the Moscow region, St. Petersburg, Nizhniy Novgorod, Samara, Kazan, Kaliningrad, Yekaterinburg and Surgut and serves nearly 12 million visitors per year.
Karo has over 100 screens in active development and construction slated to open in 2014 to include the two largest film complexes in Russian cinema history. Karo is led by Moscow based film and media executive Paul Heth. Karo is owned by Mr. Heth and Moscow based private equity funds Barings, United Financial Group, Incanto and the Russian Direct Investment Fund.
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 “LUXE: A RealD Experience” auditoriums across the Karo 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.