RealD Inc. (NYSE: RLD), a leading global licensor of 3D technologies for cinema, consumer electronics and professional applications, and Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States, announced today that they have agreed to expand their 3D cinema relationship by adding up to 1,500 additional RealD 3D-enabled screens across the Regal Entertainment Group theatre circuit.
This agreement amends the May 2008 contract, which provided for the installation of 1,500 RealD 3D-enabled screens, doubling the arrangement to up to a total of 3,000 RealD 3D-enabled screens.
“We continue to see high demand from moviegoers for RealD’s premium 3D viewing experience and to meet that demand Regal expects to 3D-enable approximately 40% of its screens as part of its ongoing nationwide digital rollout,” said Amy Miles, CEO of Regal Entertainment Group. “Doubling our agreement for RealD 3D-enabled screens will allow us to play multiple 3D films at the same time and assure moviegoers the option of seeing films in a premium 3D format.”
“Regal is the largest theatre circuit in the United States and their expanding up to 3,000 RealD 3D-enabled screens shows an unwavering commitment to 3D and an acknowledgement of the premium entertainment experience RealD delivers,” said Michael V. Lewis, Chairman and CEO of RealD Inc. “Demand for 3D continues to rise with Hollywood releasing 22 3D films in 2010 and approximately 32 3D films currently slated for release in 2011.”
RealD is one of the world’s leading 3D technology licensors for movie theaters with the 15 largest motion picture exhibitors in the world using RealD 3D-enabled screens. As of the fiscal quarter ending September 24, 2010, RealD had deployed its 3D technology on approximately 9,300 theatre screens worldwide.