BEIJING & LOS ANGELES--(BUSINESS WIRE)--RealD Inc. (NYSE: RLD), a leading global licensor of 3D technologies, and Womei Theater Chain today announced an agreement to equip 100 screens across the Womei Theater Chain in China with RealD 3D technology. The most light efficient and widely used 3D cinema projection technology in the world, RealD 3D installations across the Womei Theater Chain have already begun and are expected to continue over two years.
“The Womei Theater Chain aims to build five-star level interactive cinemas with high-end screening facilities, extraordinary viewing environments and quality services, providing movie-lovers a unique viewing experience,” said the management team of Womei Theater Chain. “Our cooperation with RealD represents a perfect combination between the leading global 3D technology and a five-star level cinema. Together, we will introduce a new sensation of cinema-going for the Chinese moviegoers.”
“The Chinese cinema box office continues to grow at a record rate while the appetite for 3D by Chinese moviegoers remains among the highest in the world,” said Edman Chan, General Manager of Asia for Cinema at RealD. “China is the most populous nation in the world and these installations of RealD 3D across the Womei Theater Chain will further broaden the availability of RealD’s unique, realistic and immersive theatre experience.”
Womei Theater Chain currently operates 4 cinema locations with 33 auditoriums across China, including a cinema of 8 screens expected to be opened in Chongqing by the end of October. In the next five years, the company plans to open a total of 200 cinemas totaling 1000 screens, with an aim of reaching the top-five in box office among all movie theater chains in China.
RealD 3D is currently available on approximately 850 cinema screens in China with future commitments for more than 1,200 additional installations for a total of more than 2,000 screens committed.
RealD is the world’s most widely used 3D cinema technology with more than 20,700 screens equipped with RealD 3D by approximately 900 exhibitors in 68 countries around the world (as of the quarter ended June 22, 2012). Capable of delivering twice the light of competing 3D technologies, RealD 3D is High Frame Rate compatible and can be shown on screens up to 82 feet (25 meters) wide with a single digital cinema projector.
About RealD Inc.
RealD is a leading global licensor of 3D technologies. RealD's extensive intellectual property portfolio is used in applications that enable a premium 3D viewing experience in the theater, the home and elsewhere. RealD licenses its RealD Cinema Systems to motion picture exhibitors that show 3D motion pictures and alternative 3D content. RealD also provides its RealD Display, active and passive eyewear, and RealD Format technologies to consumer electronics manufacturers and content producers and distributors to enable the delivery and viewing of 3D content. RealD's cutting-edge 3D technologies have been used for applications such as piloting the Mars Rover.
RealD was founded in 2003 and has offices in Beverly Hills, California; Boulder, Colorado; London, United Kingdom; Shanghai, China; Moscow, Russia; Hong Kong; and Tokyo, Japan. For more information, please visit our website at www.reald.com.
About Womei Theater Chain
Womei Theater Chain was established in China in December, 2010, with Korean theater chain Megabox as the company’s consultant. The company engages in the development and management of its subsidiary cinemas, the development of allied cinemas, the operation of theater chains and new media advertisement, as well as the value-added service of movie derivative products. With “Quality Life with Womei” as the company slogan, Womei Theater Chain is dedicated in the communication of film culture, bringing in a unique movie-going experience for movie-lovers.
Cautionary note on forward-looking statements
This press release includes forward-looking information and statements, including but not limited to: statements concerning the anticipated rollout of RealD 3D technology across the Womei Theater Chain and the growth of the 3D cinema industry in China. These statements are based on RealD’s current expectations and beliefs, as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside RealD’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements. RealD’s annual and quarterly reports include a more detailed discussion of the risks and uncertainties that may cause that could cause actual results to differ materially from the results discussed in the forward-looking statements.
RealD undertakes no obligation to update publicly the information contained in this press release, or any forward-looking statements, to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.