ShoWest, Las Vegas—Mar 31, 2009
GDC Technology Inks VPF Financing Deal with Walt Disney Studios Motion Pictures International for Exhibitors in Asia
In a move that will accelerate the conversion of cinemas in Asia to digital technology, GDC has reached a non-exclusive agreement with another Hollywood Studio for digital cinema deployment across Asia.
Under this agreement, Walt Disney Studios Motion Pictures International (“WDSMPI”) will join other major Hollywood studios in committing to supply Asian exhibitors with feature film content digitally, as well as to make financial contributions for a limited period of time towards the hardware cost of DCI-compliant digital cinema equipment deployed by GDC. Phase 1 of the program covers up to 6,000 screens in various countries throughout Asia. Along with its current roll-out in China, this milestone signals GDC’s on-going commitment to Asian exhibitors as a trusted partner in digital conversion. GDC is currently setting its sights on a Phase 2 program, which will cover even more Asian countries.
The conversion of cinemas in Asia to digital technology will enable exhibitors to reap substantial benefits of digital cinema: high quality non-degradable prints and new programming opportunities, such as premium digital 3D films, alternative content and live satellite events.
Anthony Marcoly, president, Sales and Distribution, Walt Disney Studios Motion Pictures International, stated, “GDC’s work on digital cinema throughout Asia is very well known to us and as such makes them an excellent deployment partner. Not only are we happy to support this large-scale pan-Asian rollout for digital cinema, we are also exceptionally excited about the added digital 3D capabilities this deployment will enable. With Disney’s 17 digital 3D motion pictures in the pipeline, we know that audiences are going to love being completely immersed in these great fantasies and adventures.”
“GDC is honored to be able to expand our digital offerings in Asia with the addition of the agreement with Disney,” said Dr. Man-Nang CHONG, founder and CEO of GDC Technology. “The Disney agreement added to the previously announced agreements will ensure a good flow of quality content to the Asian digital cinema screens deployed by GDC. The support of Disney offers continued endorsement of GDC and its competency in delivering a pan Asian deployment.”