Global 3D and visual technology licensor RealD Inc. (NYSE: RLD) and leading Russian theatrical exhibitor Karo Cinemas announced today an agreement to install 10 “LUXE: A RealD Experience” auditoriums in Karo cinemas in key Russian markets.
Recently introduced by RealD as a new Premium Large Format (PLF) initiative, initial “LUXE: A RealD Experience” auditoriums will be installed at Karo locations in Moscow and St Petersburg, and are expected to open this winter. An additional eight “LUXE: A RealD Experience” auditoriums are expected to be installed at new Karo locations across Russia and are expected to begin to open at the end of 2Q 2014. All 10 “LUXE: A RealD Experience” auditoriums opened at Karo locations will feature RealD 3D projection and a RealD Precision White Screen.
“’LUXE: A RealD Experience’ auditoriums hold the promise of a new, unified Premium Large Format brand moviegoers will find synonymous with the best available cinema experience,” said Michael V. Lewis, CEO of RealD. “We look forward to working with Karo to bring the ‘LUXE: A RealD Experience’ brand to life so moviegoers can experience the assured quality 2D and 3D visuals, audio and seating that will combine to create the ultimate out of home entertainment experience.”
“As a leading circuit in the rapidly growing Russian market, we strive to offer the very best possible movie-going setting for our filmgoers,” said Paul Heth, CEO of Karo Cinemas “’LUXE: A RealD Experience’ is the perfect initiative to define our 2D and 3D premium offering. Alongside RealD, we will continue to strive to provide our audiences a unique, fully immersive, highly technically advanced visual and sound experience.”
“LUXE: A RealD Experience” is the Premium Large Format (PLF) initiative introduced by RealD at CineEurope 2013 with the aim of unifying the exhibition community under a single brand with a goal of becoming synonymous with the ultimate out of home entertainment experience. Minimum standards will assure all “LUXE: A RealD Experience” auditoriums feature massive screens, ultra bright 2D and 3D, enveloping audio and luxury seating for a premium movie-going experience. “LUXE: A RealD Experience” auditoriums will provide full flexibility with content, allowing exhibitors to show any movie at any time for optimized profitability.
All “LUXE: A RealD Experience” auditoriums will meet minimum technology specifications to assure a premium cinema experience, such as: usage of RealD 3D, the industry’s brightest 3D projection technology; wall-to-wall / floor-to-ceiling screens of at least 16 meters in width; 3D sound; auditorium rakes to optimize patron’s views and more. Additional exclusive new technologies to be announced are expected to be incorporated into “LUXE: A RealD Experience” auditoriums.
The world’s most widely used 3D cinema technology, RealD 3D is installed in approximately 23,500 auditoriums by approximately 1,000 exhibitors in 74 countries around the world (as of June 30, 2013).