Barco, the global digital cinema technology leader, has signed a new supply agreement with Cinedigm to secure additional funding for exhibitors wishing to finance their digital cinema conversion. This turnkey solution from Barco and Cinedigm is available immediately and will continue through late 2012.
Together, Barco and Cinedigm have supported the fully financed deployment of digital cinema solutions for more than 2,000 screens, totaling nearly $75 million in financing during the past two years. With this additional funding, this program is immediately available to assist exhibitors – especially many smaller theaters – with their digital cinema conversion.
“Time and a track record of happy customers have proven that we offer the best, most exhibitor-friendly VPF program in the industry,” commented Gary Loffredo, President of Digital Cinema and General Counsel of Cinedigm. “Barco has always been an outstanding partner, quickly and efficiently installing their high-quality digital cinema systems in thousands of screens over the past few years and we look forward to converting many more exhibitors together in the future.”
While all of the major theater chains and many independently-owned cinemas have converted their auditoriums to digital cinema, others have remained film-based primarily because of the high expense associated with conversion. But as fewer and fewer studios make film prints of their movies in the future, these exhibitors may find themselves in a precarious position if they want to continue in business and take advantage of the opportunity that digital cinema offers.
“We understand the challenges that theater owners face when contemplating the move to digital cinema, with cost being the number one limiting factor,” commented Patrick Lee, VP Barco Digital Cinema. “We want to remove these obstacles and offer exhibitors a solution that provides a secure investment and helps them grow their business. With this expanded financing and Cinedigm's VPF program, our customers receive a turnkey solution with the best and brightest projectors, with the proven lowest cost of ownership in the industry.”
