Texas Instruments (TI) (NYSE: TXN) DLP Cinema® announced today at ShoWest that IMAX® Corporation (Nasdaq: IMAX) has decided to incorporate the DLP Cinema projector solution in its IMAX digital projection systems to be deployed by commercial exhibitors around the world.
“We are excited to cement this alliance with DLP Cinema, and believe their technology will help ensure that our digital projection system delivers the best cinema experience available to audiences,” said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. “We’ve evaluated competing cinema projection technology and found DLP Cinema to be the ideal match for IMAX.”
IMAX’s highly anticipated digital projection system integrates a suite of proprietary IMAX intellectual properties with the DLP Cinema projector solution in a way that creates The IMAX Experience in a digital format.
IMAX expects its transition to digital to help to drive profitability for studios, exhibitors and IMAX theatres by virtually eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens. With the implementation of DLP Cinema technology, IMAX moviegoers will experience precise, lifelike images in vibrant colors, delivered through the millions of microscopic mirrors on the DLP Cinema chip.
“We are proud to work with IMAX and look forward to the development and rollout of the best digital cinema experience in the market,” said Nancy Fares, Business Manager for DLP Cinema Products Group. “DLP Cinema projectors are the heart of every digital 2D and 3D movie experience for traditional and now large format venues. We look forward to participating in their move to digital in the months ahead.”
Digital cinema installations continue to be catalyzed by the increasing release of 3D film. The 3D movie format is serving as a revenue driver for the film industry overall, and has gained a resurgence of interest by moviegoers. IMAX has been a leader in 3D content, especially since the overwhelming box office success of The Polar Express: An IMAX 3D Experience, which has grossed more than $65 million in IMAX theatres around the world since it opened in 2005. More recently, Beowulf: An IMAX 3D Experience grossed $25 million, representing a per screen average of more than $185,000.
Celebrating its 10th year in the film industry, DLP Cinema projection technology is installed in over 6,000 theatres on every continent except Antarctica and is the only digital 3D single projector solution. Today there are more than 1,200 theatres in the country that offer the digital 3D experience powered by DLP Cinema technology, and this number will continue to increase as IMAX begins its rollout of digital projection systems powered by DLP Cinema.
10 Years of Digital Cinema
2008 marks the 10th Anniversary of DLP’s entrance into the cinema industry, with the first fully functional and Hollywood endorsed digital DLP Cinema movie projector. After years of prototypes, DLP had delivered Hollywood’s biggest image critics and cinematographers with a digital projector that met the world’s highest standards on color, brightness and reliability and therefore pioneered the digital cinema concept. A year later in 1999 the studios released the first movie in digital format on DLP Cinema which was Star Wars: Episode I- The Phantom Menace. DLP Cinema honors the heritage of the ultimate viewing experience while incorporating the latest technology innovations, such as the 3D single projector solution, and cutting costs for cinema exhibitors, distributors and ultimately the consumer.