Global 3D and visual technology licensor RealD Inc. (NYSE: RLD) and China’s largest movie theatre circuit, Wanda Cinema Line Corporation, announced today an extended agreement to install an additional 780 RealD 3D Cinema Systems at Wanda locations.
The new installations will occur over the next three years. When combined with the approximately 800 RealD 3D equipped Wanda auditoriums today, the agreement will essentially double the RealD 3D install base to more than 1,500 auditoriums. Under the terms of the extended agreement, RealD has also been named the exclusive circuit wide 3D technology provider for Wanda Cinema Line.
“As the biggest cinema circuit in Asia, we are very pleased to continue our cooperation with RealD. This extended agreement between Wanda and RealD represents a win-win cooperation in the truest sense. With RealD’s advanced technology and Wanda’s commitment to service, we believe that we can bring to the Chinese audience the best possible movie-going experience,” said Zeng Maojun, Executive Deputy General Manager of Wanda Cinema Line.
“Wanda continues to be the market leader in the Chinese exhibitor business. In fact, the development of Wanda is in tune with the rapid growth of the Chinese cinema business as a whole. It’s been our privilege to partner and grow together with Wanda and we are thrilled to approximately double the RealD 3D install base at Wanda locations and continue our partnership as Wanda’s exclusive circuit wide 3D technology provider,” said Edman Chan, Vice President and General Manager, Cinema, Asia Pacific of RealD.
RealD 3D is currently available on approximately 1,500 cinema screens in China with future commitments for approximately 950 additional installations for a total of approximately 2,450 screens.
The world’s most widely used 3D cinema technology, RealD 3D is installed in more than 25,000 auditoriums by approximately 1,000 exhibitors in 74 countries around the world.