BEIJING & LOS ANGELES--(BUSINESS WIRE)--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.
About RealD Inc.
RealD is a leading global licensor of 3D and other visual technologies. RealD’s extensive intellectual property portfolio is used in applications that enable a premium 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, content producers and distributors to enable the delivery and viewing of 3D and other premium content on a variety of visual displays and devices.
RealD was founded in 2003 and has offices in Beverly Hills, California; Boulder, Colorado; London, United Kingdom; Moscow, Russia; Shanghai, China; Hong Kong; Tokyo, Japan; and Rio de Janeiro, Brazil. For more information, please visit our website at www.reald.com.
About Wanda Cinema Line
Wanda Cinema Line Corporation is the biggest cinema circuit in Asia. As of December 31, Wanda owns 142 theaters and 1247 screens in 74 cities across China with 27 premium large format screens known as X-Land. In 2013, the annual box office revenue of Wanda Cinema Line broke into $500 million, accounting for 15% of the total annual box office revenue in China. In terms of admissions, Wanda attracted 80 million admissions in 2013, which also stands as the highest in the region. For the fifth consecutive year Wanda Cinema Line stands as the biggest cinema circuits in China in terms of box office revenue, market share and admissions. Among the top 100 movie theaters in China, Wanda owns 37 theaters.
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 Wanda Cinema Line auditoriums and the growth of the 3D cinema industry. 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 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.