Cinemark Holdings, Inc. (NYSE: CNK), and RealD 3D, the global leader in 3D, announced today that Cinemark will add up to 1,500 RealD 3D screens to its circuit, bringing RealD’s committed 3D platform to a game-changing 5,000 worldwide screens. Cinemark’s global deployment of its greatly expanded 3D platform, with RealD as exclusive digital 3D provider, comes as an unprecedented slate of top-tier 3D films is announced for 2009 and 2010. The parties expect to commence the roll-out upon completion of the Digital Cinema Implementation Partners (DCIP) initiative.
The consummation of the announced deal is subject to completion of definitive agreements and is contingent upon DCIP finalizing the necessary digital cinema conversion arrangements.
“Cinemark has always been committed to new, exciting, premium experiences for our cinema guests,” said Alan Stock, CEO of Cinemark Holdings, Inc. “Our partnership with RealD 3D brings amazing 3D visuals to our screens in time for a roster of great 3D films from the leading talents in cinema.”
“We are thrilled that Cinemark has chosen RealD to make this breakthrough commitment to 3D,” said Michael Lewis, chairman and CEO of RealD. “Cinemark and RealD together can now bring a premium 3D experience to moviegoers throughout the United States and Latin America, who will truly have ‘the best seat in town’. This expansion of our RealD 3D platform also means that RealD has passed the 5,000 screen milestone: a game-changing number for 3D and for the business of movies.”
"RealD is building a groundbreaking 3D platform which paves the way for the release of such films as our upcoming Journey to the Center of the Earth, which, in the 3D version, is the first live-action narrative 3D film ever released," said Dan Fellman, President Domestic Distribution, Warner Bros. Pictures. "The 5,000 screen milestone is a huge win for studios and exhibitors alike.
RealD’s next-generation 3D is immersive and realistic, bearing no resemblance to the anaglyph red-and-blue glasses of the 50’s or other analog technologies. The new digital 3D has been hailed as the greatest advance in filmmaking since the advent of color. 5,000 3D screens has often been cited as a number at which the box-office impact of 3D becomes nationwide and undeniable. Such a planned rollout provides a greatly expanded platform for Hollywood’s creative community to release 3D films, with the attendant increased attendance and revenue.