Pact Continues RealD's Expansion in China With 1,000 Screens Currently Under Contract in the Territory
LOS ANGELES & SHANGHAI--(BUSINESS WIRE)--RealD Inc. (NYSE:RLD), a leading global licensor of 3D technologies, and SHIMAO Cinema Investment Company Limited (SHIMAO Cinema), announced today an agreement to install RealD 3D technology on 100 cinema screens across the SHIMAO Cinema circuit in China. The 100 screens are part of an initial deployment phase with an option to increase the number of RealD 3D installations. SHIMAO Cinemas expects to grow their circuit over the next five years to 60 theatre locations totaling 500 screens, most of which are expected to incorporate RealD 3D technology. This agreement brings the total number of cinema screens in China committed to RealD 3D technology to 1,000 with approximately 400 installations to-date.
"This is an exciting time for 3D in the burgeoning Chinese cinema market where some recent films have delivered up to 80% of their total box office from 3D showings," said Edman Chan, RealD's General Manager of Greater China, Southeast Asia and Korea for Cinema. "This agreement will help to insure the premium RealD 3D experience is accessible to a broader number of moviegoers in China."
"RealD's cutting-edge 3D technology provides the highest brightness in the industry for a comfortable 3D viewing effect," said Liu Ming, General Manager of SHIMAO Cinema. "In addition, RealD's passive 3D glasses are lightweight and low cost, and allow for a wide selection of clip-on lenses and personalized models for the young and fashionable mainstream movie-going community to choose from."
As of June 24, 2011, RealD has deployed its 3D technology on an industry leading over 17,500 theatre screens in approximately 60 countries around the world.
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; Shanghai, China; Hong Kong; and Tokyo, Japan. For more information, please visit our website at www.reald.com.
About SHIMAO Cinema Investment Company Limited
Relying on the premium commercial real estate platform from SHIMAO Group as well as its operation and management team, SHIMAO Cinema Investment Company Limited (SHIMAO Cinema) has created a revolutionary cinema operations model it manages under the slogan 'lifestyle technology pioneer.' Driven by the market demand of the China Film Industry, it created two cinema brands of 'SHIMAO City Cineplex' and 'SHIMAO i-CINEMA' which feature 5-Star World-class Multiplexes and boutique style fashionable Multiplexes. It further developed into other innovative cinema concepts such as themed cinemas, i-CINEMA, DE CINEMA and Star Garden. The successful development of SHIMAO Cinema is built on the foundation of diversity and variety.
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 SHIMAO Cinema's theater 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.
© 2011. RealD Inc. All Rights Reserved.
Contacts
Media Contacts:
RealD
Rick Heineman, 310-385-4020
rheineman@reald.com
or
SHIMAO Cinema
Cristal Zhang, +86-15921138077
crystal_zhang@shimaoco.com
or
Investor Contact:
RealD
Erik Randerson, CFA, 424-702-4317
eranderson@reald.com