XDC, the leading digital cinema service company in Europe, announces to have signed an exclusive agreement with Cineplexx Kinobetriebe GmbH, the largest cinema chain in Austria, for the deployment of digital cinema systems in 100% of the circuit’s 193 screens. This agreement represents a contract of a total value of about 21 millions Euros.
The agreement signed between Cineplexx and XDC includes the roll out of DCI-compliant projection systems co-financed by the Virtual Print Fee (VPF) model. The rollout is scheduled to begin in the last quarter of 2008, with a target of 50% of each complex screens converted during the first contractual year.
Serge Plasch, XDC’s Chief Executive Officer said: “We are very proud to announce this first VPF deal with one important European exhibitor, just one month after having signed our digital cinema deployment agreements with the studios. This demonstrates that the XDC’s VPF-based business proposal meets the requirements of European exhibitors. We expect to announce additional deployment deals in other countries soon.”
Christian G. Langhammer, Cineplexx’s Chief Executive Officer said: “We are delighted to be the first exhibitor to go fully digital with the XDC’s VPF-based business model. We have been working with XDC for several years. They have financed, installed and serviced our first 16 digital screens. XDC has the best team to support exhibitors into their transition to digital, and I’m really excited to extend our cooperation with this major milestone, which will give to Cineplexx huge opportunities to benefit from all the advantages of digital cinema.” Christof Papousek, Cineplexx’s Chief Financial Officer added: “Besides offering pristine image quality to our audience, we will extend our programming to alternative content, 3D shows and live satellite events (opera, concerts, sports …). Last but not least, digital will allow us to reduce our operational costs.”
Under the terms of the agreement, XDC will exclusively install DCI-compliant digital projection systems: Christie 2K DLP Cinema® projectors and XDC’s CineStore® Solo G3 D-Cinema servers. XDC will also implement a fully integrated and networked solution in each complex, thanks to its advanced Theatre Management System and Central Library, the XDC’s CineStore® Plaza.
Film Ton Technik (FTT), via its Austrian subsidiary FTT Digital Cinema GmbH, will carry out the installations and the maintenance, as well as the frontline helpdesk.